Can Ferroglobe PLC (GSM)’s Tomorrow be Different? The Stock Just Broke Its 1 Year Low

June 17, 2018 - By Vivian Park

The stock of Ferroglobe PLC (NASDAQ:GSM) hit a new 52-week low and has $8.46 target or 6.00 % below today’s $9.00 share price. The 7 months bearish chart indicates high risk for the $1.55 billion company. The 1-year low was reported on Jun, 17 by Barchart.com. If the $8.46 price target is reached, the company will be worth $92.88M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock.

The stock decreased 3.64% or $0.34 during the last trading session, reaching $9. About 1.40M shares traded or 33.32% up from the average. Ferroglobe PLC (NASDAQ:GSM) has declined 2.18% since June 17, 2017 and is downtrending. It has underperformed by 14.75% the S&P500.

Analysts await Ferroglobe PLC (NASDAQ:GSM) to report earnings on September, 4. They expect $0.24 earnings per share, up 380.00 % or $0.19 from last year’s $0.05 per share. GSM’s profit will be $41.28 million for 9.38 P/E if the $0.24 EPS becomes a reality. After $0.21 actual earnings per share reported by Ferroglobe PLC for the previous quarter, Wall Street now forecasts 14.29 % EPS growth.

Ferroglobe PLC (NASDAQ:GSM) Ratings Coverage

Among 4 analysts covering Ferroglobe PLC (NASDAQ:GSM), 4 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. Ferroglobe PLC had 6 analyst reports since February 26, 2018 according to SRatingsIntel. The firm has “Buy” rating by FBR Capital given on Monday, February 26. The firm has “Buy” rating by Jefferies given on Monday, February 26. The company was upgraded on Monday, March 26 by J.P. Morgan. The firm earned “Buy” rating on Wednesday, May 23 by FBR Capital. On Friday, May 18 the stock rating was maintained by FBR Capital with “Buy”. JP Morgan maintained it with “Overweight” rating and $15 target in Wednesday, May 23 report.

More recent Ferroglobe PLC (NASDAQ:GSM) news were published by: Nasdaq.com which released: “Factors of Influence in 2018, Key Indicators and Opportunity within The Andersons, Ferroglobe, Paylocity Holding …” on May 21, 2018. Also Globenewswire.com published the news titled: “Ferroglobe Announces Insider Buying” on June 07, 2018. Globenewswire.com‘s news article titled: “Ferroglobe Reports Results for First Quarter of 2018” with publication date: May 21, 2018 was also an interesting one.

Ferroglobe PLC operates in the silicon and specialty metals industry in the United States, Europe, and internationally. The company has market cap of $1.55 billion. The firm offers silicon metals that are used in personal care items, construction-related products, health care products, and electronics, as well as used in the manufacture of silicone chemicals; silicomanganese, which is used as deoxidizing agent in the steel manufacturing process; and ferromanganese that is used as a deoxidizing, desulphurizing, and degassing agent in the removal of nitrogen and other harmful elements from steel. It has a 36.59 P/E ratio. It also provides ferrosilicon products that are used to produce stainless steel, carbon steel, and various other steel alloys, as well as to manufacture electrodes and aluminum; silico calcium, which is used in the deoxidation and desulfurization of liquid steel, and production of coatings for cast iron pipes, as well as in the welding process of powder metal; nodularizers and inoculants, which are used in the production of iron; and silica fume, a by-product of the electrometallurgical process of silicon metal and ferrosilicon.

Ferroglobe PLC (NASDAQ:GSM) Ratings Chart

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