Briley Maintains Ferroglobe PLC to Neutral with Price Target $8.50

Brokerage firm Briley Maintains its rating on Ferroglobe PLC(NASDAQ:GSM). In a research note issued to the investors, the brokerage major Lowers the price-target to $8.50 per share. The shares have been rated Neutral. The rating by Briley was issued on Aug 29, 2016.

In a different note, On Aug 25, 2016, B. Riley said it Downgrades its rating on Ferroglobe PLC. The shares have been rated ‘Neutral’ by the firm. On Jun 13, 2016, Jefferies said it Upgrades its rating on Ferroglobe PLC. The shares have been rated ‘Buy’ by the firm.

Ferroglobe PLC (GSM) made into the market gainers list on Thursdays trading session with the shares advancing 1.58% or 0.13 points. Due to strong positive momentum, the stock ended at $8.38, which is also near the day’s high of $8.38. The stock began the session at $8.27 and the volume stood at 5,76,877 shares. The 52-week high of the shares is $11.94 and the 52 week low is $6.9. The company has a current market capitalization of $1,440 M and it has 17,18,38,150 shares in outstanding.

Ferroglobe PLC has also declared a cash dividend of $0.0800 on Aug 3, 2016. The shares will quote ex-dividend on Sep 12, 2016 and the record date has been fixed on Sep 14, 2016. The dividend payable date has been fixed on Sep 28, 2016.

Ferroglobe PLC(GSM) last announced its earnings results on Aug 25, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $397.95M. Analysts had an estimated revenue of $1.75B. Earnings per share were $-0.01.

Ferroglobe PLC formerly VeloNewco Ltd is a United Kingdom-based company. The Company is engaged in the production of silicon metals and alloys.

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