Barrow, Hanley, Mewhinney & Strau recently announced the acquisition of new stake in Ferroglobe Plc (NASDAQ:GSM). The institutional investor has increased its shareholding in the Basic Materials company by 2.37% to 6.75 million shares with purchase of 0.16 million shares. This fresh investment now brings its stake to 3.60% valued currently at $43.94 million. In addition, Hosking Partners LLP raised its holdings by 0.84 million to 5.2 million shares. And Boston Partners Global Investors, has lifted its position by 5.80% or 0.23 million shares – to 4.25 million shares.
With over 0.49 million Ferroglobe Plc (GSM) shares trading Friday and a closing price of $6.10 on the day, the dollar volume was approximately $2.97 million. The shares have shown a positive half year performance of 25.26% and its price on 01/12/24 lost nearly -0.16%. Currently, there are 188.88M common shares owned by the public and among those 105.51M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 2 analysts who have offered their price forecasts for GSM have a consensus price objective of $11.50. The analysts have set the share’s price value over the next 12 months at a high of $12.00 and a low of $11.00. The average price target is 46.96% above its recent price level and an upside to the estimated low will see the stock gain 44.55% over that period. But an upside of 49.17% will see the stock hit the forecast high price target while median target price for the stock is $11.50.
Insiders at the company have transacted a total of 0 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 0 of these insider trades were purchases, accounting for 0 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.
The top 3 mutual fund holders in Ferroglobe Plc are American Beacon Small Cap Value F, Royce Small-Cap Opportunity Fund, and First Eagle Small Cap Opportunity. American Beacon Small Cap Value F owns 3.11 million shares of the company’s stock, all valued at over $20.26 million. Royce Small-Cap Opportunity Fund bought 10000.0 shares to see its total holdings expand to 1.34 million shares valued at over $8.7 million and representing 0.71% of the shares outstanding. First Eagle Small Cap Opportunity bought 0.22 million shares to bring its total holdings to over 1.26 million shares at a value of $8.17 million. First Eagle Small Cap Opportunity now owns shares totaling to 0.67% of the shares outstanding.
Shares of Ferroglobe Plc (NASDAQ: GSM) opened at $6.22, up $0.11 from a prior closing price of $6.11. However, the script later moved the day high at 6.26, down -0.16%. The company’s stock has a 5-day price change of -3.63% and 22.49% over the past three months. GSM shares are trading -6.30% year to date (YTD), with the 12-month market performance up to 32.61% higher. It has a 12-month low price of $3.95 and touched a high of $6.78 over the same period. GSM has an average intraday trading volume of 1.19 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -5.42%, 7.70%, and 20.20% respectively.
Institutional ownership of Ferroglobe Plc (NASDAQ: GSM) shares accounts for 45.84% of the company’s 188.88M shares outstanding. Mutual fund holders own 4.67%, while other institutional holders and individual stakeholders account for 8.51% and 39.07% respectively.
It has a market capitalization of $1.14B and a beta (3y monthly) value of 2.08. The stock’s trailing 12-month PE ratio is 9.73, while the earnings-per-share (ttm) stands at $0.63. The company has a PEG of 0.49 and a Quick Ratio of 1.45 with the debt-to-equity ratio at 0.35. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.83% over the week and 3.48% over the month.
Analysts forecast that Ferroglobe Plc (GSM) will achieve an EPS of $0.11 for the current quarter, $0.1 for the next quarter and $0.97 for 2024. The lowest estimate earnings-per-share for the quarter is $0.11 while analysts give the company a high EPS estimate of $0.11. Comparatively, EPS for the current quarter was $0.42 a year ago. Earnings per share for the fiscal year are expected to decrease by -80.29%, and 19.83% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 2 brokerage firm advisors rate Ferroglobe Plc (GSM) as a “Strong Buy” at a consensus score of 1.00. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 0 of the 2 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the GSM, a number of firms have released research notes about the stock. B. Riley Securities stated their Buy rating for the stock in a research note on September 14, 2022, with the firm’s price target at $12.
