Jefferies Upgrades Ferroglobe PLC to Buy

Brokerage firm Jefferies Upgrades its rating on Ferroglobe PLC(NASDAQ:GSM). The shares have been rated Buy. Previously, the analysts had a Hold rating on the shares. The rating by Jefferies was issued on Jun 13, 2016.

In a different note, On Mar 21, 2016, JP Morgan said it Maintains its rating on Ferroglobe PLC. In the research note, the firm Lowers the price-target to $19.00 per share. The shares have been rated ‘Overweight’ by the firm.

Ferroglobe PLC (GSM) made into the market gainers list on Fridays trading session with the shares advancing 2.42% or 0.21 points. Due to strong positive momentum, the stock ended at $8.89, which is also near the day’s high of $9.3. The stock began the session at $8.72 and the volume stood at 84,92,521 shares. The 52-week high of the shares is $18.77 and the 52 week low is $6.9. The company has a current market capitalization of $1,528 M and it has 17,18,38,150 shares in outstanding.

Ferroglobe PLC(GSM) last announced its earnings results on Nov 5, 2015 for Fiscal Year 2016 and Q1.Company reported revenue of $174.76M. Analysts had an estimated revenue of $195.76M. Earnings per share were $0.11. Analysts had estimated an EPS of $0.13.

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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