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Sunday, September 19, 2021

Up Nearly 60% in the Past Month, is Ferroglobe a Buy? - Entrepreneur

Last updated Tuesday, September 7, 2021 08:56 ET , Source: NewsService

This story originally appeared on StockNews

Shares of the silicon and specialty metals producer Ferroglobe (GSM) have soared 58.5% in price over the past month, in part due to investors’ optimism surrounding the U.S. International Trade Commission’s final verdict on silicon metal imports from Malaysia. However, can the stock continue advancing even as COVID-19 cases continue to increase in several parts of the world? Let’s find out.

Headquartered in London, Ferroglobe PLC (GSM) is one of the world’s largest producers of silicon metal and its alloys and manganese alloys that operates across Canada, France, and the United States, among other regions. Its stock has attracted significant investor attention based on the U.S. International Trade Commission’s (ITC) final vote on July 28 that silicon metal imports from Malaysia have materially injured the U.S. industry. The U.S. Department of Commerce (DOC) will issue a formal antidumping duty order covering all imports from Malaysia for at least five years. GSM’s stock has surged 58.5% over the past month to close Friday’s trading session at $9.37.

However, the stock is currently trading 16.7% below its 52-week high of $11.25, which it hit on September 2, 2021. Furthermore, GSM’s revenue and total assets have declined at CAGRs of 12.7% and 13.8%, respectively, over the past three years. In addition, its net debt came in at $358 million in the second quarter (ended June 30, 2021) compared to $334 million in the first quarter...



Read Full Story: https://www.entrepreneur.com/article/384020


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