According to Zacks, “Globe Specialty Metals, Inc., together with its subsidiary companies, is among the world’s largest producers of silicon metal and silicon-based specialty alloys – critical ingredients in a host of industrial and consumer products with growing markets. The Company’s customers include major silicone chemical, aluminum and steel manufacturers, producers of photovoltaic solar cells and computer chips, the auto industry, ductile iron foundries and concrete producers. Headquartered in New York City, the company has major manufacturing facilities in the U.S. states of Ohio, West Virginia, Alabama and New York, as well as in the Brazilian state of Pará, Mendoza province Argentina and Ningxia province China. Its principal operating subsidiaries are Globe Metallurgical, Inc. and Solsil, Inc. in the U.S.; Globe Metais Indústria e Comércio S.A. in Brazil; Globe Metales S.A. in Argentina; and Ningxia Yonvey Coal Industry Co., Ltd., in China. “
A number of other brokerages also recently issued reports on GSM. Oppenheimer Holdings Inc. reissued an outperform rating and set a $12.00 price objective (down previously from $14.00) on shares of Globe Specialty Metals in a research report on Monday, August 29th. B. Riley reissued a neutral rating and set a $8.50 price objective on shares of Globe Specialty Metals in a research report on Sunday, September 4th. Robert W. Baird raised shares of Globe Specialty Metals from a neutral rating to a buy rating in a research report on Monday, September 19th. Jefferies Group set a $11.00 price objective on shares of Globe Specialty Metals and gave the company a buy rating in a research report on Monday, August 29th. Finally, Stifel Nicolaus cut their price objective on shares of Globe Specialty Metals from $17.00 to $16.00 and set a buy rating for the company in a research 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 stock. The stock presently has a consensus rating of Buy and an average target price of $12.38.
Globe Specialty Metals (NASDAQ:GSM) opened at 8.68 on Friday. The company’s market cap is $1.49 billion. Globe Specialty Metals has a 1-year low of $6.90 and a 1-year high of $14.48. The company has a 50-day moving average price of $8.81 and a 200-day moving average price of $9.02.
Globe Specialty Metals (NASDAQ:GSM) last issued its quarterly earnings data on Friday, August 26th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by $0.03. On average, analysts expect that Globe Specialty Metals will post ($0.09) EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 28th. Shareholders of record on Wednesday, September 14th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 3.69%. The ex-dividend date was Monday, September 12th.
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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