Published On: Sat, Sep 24th, 2016

Globe Specialty Metals Inc. (GSM) Rating Reiterated by B. Riley

Globe Specialty Metals Inc. (NASDAQ:GSM)‘s stock had its “buy” rating reiterated by stock analysts at B. Riley in a research note issued to investors on Saturday. They presently have a $10.25 price target on the stock. B. Riley’s price target points to a potential upside of 15.95% from the stock’s previous close.
GSM has been the subject of a number of other reports. Zacks Investment Research raised Globe Specialty Metals from a “sell” rating to a “hold” rating in a research note on Tuesday, September 13th. Jefferies Group upgraded Globe Specialty Metals from a “hold” rating to a “buy” rating and reduced their price objective for the stock from $19.00 to $11.00 in a report on Monday, June 13th. Stifel Nicolaus reduced their price objective on Globe Specialty Metals from $17.00 to $16.00 and set a “buy” rating on the stock in a report on Monday, August 29th. Robert W. Baird upgraded Globe Specialty Metals from a “neutral” rating to a “buy” rating in a report on Monday, September 19th. Finally, Oppenheimer Holdings Inc. restated an “outperform” rating and set a $12.00 price objective (down from $14.00) on shares of Globe Specialty Metals in a report on Monday, August 29th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $12.38.

Globe Specialty Metals (NASDAQ:GSM) opened at 8.84 on Friday. The company’s market capitalization is $1.52 billion. The stock’s 50 day moving average price is $8.90 and its 200-day moving average price is $9.04. Globe Specialty Metals has a one year low of $6.90 and a one year high of $14.48.

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Globe Specialty Metals (NASDAQ:GSM) last issued its quarterly earnings results on Friday, August 26th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.02 by $0.03. Equities analysts forecast that Globe Specialty Metals will post ($0.09) EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 28th. Stockholders of record on Wednesday, September 14th will be issued a $0.08 dividend. The ex-dividend date is Monday, September 12th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 3.62%.
A hedge fund recently bought a new stake in Globe Specialty Metals stock. Albert D. Mason purchased a new position in shares of Globe Specialty Metals Inc. (NASDAQ:GSM) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 26,460 shares of the company’s stock, valued at approximately $284,000. Hedge funds and other institutional investors own 38.14% of the company’s stock.
About Globe Specialty Metals
Ferroglobe PLC, formerly VeloNewco Limited, is engaged in silicon and specialty metals industry. The Company produces silicon metal and silicon- and manganese-based alloy, which serves customers in the chemical, aluminum, solar, steel and ductile iron foundry industries. It operates through two segments: Electrometallurgy and Energy.

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