GSM - Ferroglobe PLC

NasdaqGS - NasdaqGS Real Time Price. Currency in USD
0.5700
+0.0161 (+2.91%)
At close: 4:00PM EST
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Previous Close0.5539
Open0.5800
Bid0.5724 x 1000
Ask0.0000 x 1800
Day's Range0.5500 - 0.5800
52 Week Range0.5400 - 5.4500
Volume267,247
Avg. Volume667,237
Market Cap96.4M
Beta (3Y Monthly)2.64
PE Ratio (TTM)N/A
EPS (TTM)-0.7540
Earnings DateSep 3, 2019
Forward Dividend & Yield0.24 (18.18%)
Ex-Dividend Date2018-09-04
1y Target Est2.50
  • GlobeNewswire

    Ferroglobe Appoints Beatriz García-Cos Muntañola Chief Financial Officer

    Ferroglobe PLC (GSM) (“Ferroglobe” or the “Company”), the world’s leading producer of silicon metal and a leading silicon- and manganese-based specialty alloy producer, is pleased to announce that it has appointed Beatriz García-Cos Muntañola as Chief Financial Officer (“CFO”), effective October 17, 2019. Ms. García-Cos most recently served as Group CFO at Bekaert NV, a leading, global steel wire transformation company, listed on the Belgium Stock Exchange, where she focused on setting and executing financial strategy, as well as leading numerous strategic projects centered on business growth and enhanced operational efficiency.  Prior to Bekaert NV, she was the CFO of the mining division of Trafigura Beheer BV, one of the largest physical commodities trading groups.

  • GlobeNewswire

    Globe Specialty Metals Announces Formation of Domestic Trade Coalition

    Ferroglobe PLC (GSM) today announced that its U.S. subsidiary Globe Specialty Metals, Inc. (“Globe”) has formed an ad hoc trade coalition in the United States with Mississippi Silicon LLC.  The two U.S. merchant producers of silicon metal have agreed to form a coalition to address international trade regulatory issues related to unfair import competition which affect both companies.

  • Should You Worry About Ferroglobe PLC's (NASDAQ:GSM) CEO Pay Cheque?
    Simply Wall St.

    Should You Worry About Ferroglobe PLC's (NASDAQ:GSM) CEO Pay Cheque?

    Pedro Larrea Paguaga has been the CEO of Ferroglobe PLC (NASDAQ:GSM) since 2015. First, this article will compare CEO...

  • GlobeNewswire

    Ferroglobe Announces Closing of $100 Million Asset-Based Revolving Credit Facility

    Ferroglobe PLC (GSM) (“Ferroglobe” or the “Company”) today announced the closing of a new, five-year $100 million North American asset-based revolving credit facility (the “ABL Revolver”), between Globe Specialty Metals, Inc. (“Globe”) and QSIP Canada ULC, each a subsidiary of the Company, as borrowers and PNC Bank, National Association (“PNC”), as lender and agent. The ABL Revolver replaces the Company’s revolving credit facility (the “RCF”).

  • Globenewswire Test

    Ferroglobe Provides Corporate Update

    LONDON, Oct. 04, 2019 (GLOBE NEWSWIRE) -- Ferroglobe PLC (NASDAQ:GSM) (“Ferroglobe” or the “Company”), the world’s leading producer of silicon metal and a leading silicon- and manganese- based specialty alloy producer, announced today the following corporate developments. Disposal of Non-Core AssetsFerroglobe has successfully completed and closed two previously-announced asset sales. On September 28, 2019, Ferroglobe closed on the sale of its subsidiary Ultracore Polska ZOO, which manufactures cored wire in Poland, to an affiliate of Cedie, S.A. for $3.5 million. Additionally, the Company’s subsidiary Silicon Smelters (Pty.) Ltd. has completed the sale of its remaining timberlands in South Africa to Mphome Agric (Pty.) Ltd., for net proceeds of ZAR 130 million ($8.58 million). This transaction was finalized, and the proceeds received, on October 4, 2019.Appointment of Chief Operating Officer and Deputy CEOFerroglobe is pleased to announce the appointment of Benoist Ollivier, PhD as Chief Operating Officer and Deputy Chief Executive Officer, effective October 1, 2019. Dr. Ollivier will work closely with division managers to set operational strategy and oversee its execution. He will be in charge of a number of initiatives supporting the Company’s near-term focus on cash generation, including cost savings and efforts to release working capital. Dr. Ollivier holds a PhD in Mineral Chemistry and has over twenty-five years of experience in the industry. He has been a senior member of the Ferroglobe and Grupo FerroAtlántica management teams since 2005, with extensive experience in both R&D and production management in Europe as well as overseas. Most recently, he has served as EVP - Operations for Europe, Africa and Asia and EVP - Technology and R&D. Cost Reduction and Working Capital Release InitiativesGiven the current market environment, Ferroglobe is making further adjustments to its global production platform. In addition to previously announced production curtailments, the Company is taking steps to extend or bring forward planned outages over the fourth quarter at several facilities in an effort to streamline operations, adapt production to reduced demand, and release working capital. The following is a summary of these initiatives.Europe and South Africa * In France, two furnaces producing ferrosilicon in Chateau-Feuillet were idled on September 30, 2019, and a third, in Laudun, will be idled on November 15. * Also in France, three silicon furnaces will be idled on October 7 - two in Montricher and one in Laudun. * As a reminder, the silicon plant in Polokwane, South Africa has been idled since August 1st and silicon production has been reduced at the plant in Sabon, Spain.North America * The Bécancour, Québec joint venture facility producing silicon metal has idled its furnace 4 since August 30, 2019 and its furnace 3 since September 30. * The Bridgeport, Alabama facility (producing ferrosilicon) was idled on September 1. Customer orders from this plant have been shifted to the Beverly, Ohio facility in order to optimize utilization and economics.The foregoing shutdowns are planned to last for a period of four to six months. Ferroglobe will continue to monitor market conditions to determine when the subject furnaces should be restarted. A review of manganese alloys production adjustments is also underway. These operational changes complement ongoing corporate initiatives including, but not limited to, the relocation of Ferroglobe’s headquarters from London to Madrid. Pedro Larrea, Ferroglobe’s CEO, commented, “Today’s announcements reinforce management’s focus on adapting to the evolving market and taking actions aimed at enhancing and optimizing our production footprint and overall competitiveness, with a strong emphasis on generating cash. As we look ahead, we will continue to monitor supply and demand dynamics across our product portfolio and take further actions as required to ensure a return to profitability and effective management of working capital.” Mr. Larrea added, “Implementation of such a plan requires global coordination and swift action across various functions. The appointment of Benoist as COO and Deputy CEO not only helps ensure the successful execution of current initiatives but sets the foundation for greater oversight of our global platform. Benoist has significant experience in and deep knowledge of our business and has been an integral part of the organization since the creation of Ferroglobe. I have every confidence that he will leverage his knowledge and relationships very effectively.”About FerroglobeFerroglobe PLC is one of the world’s leading suppliers of silicon metal, silicon- and manganese- based specialty alloys and ferroalloys, serving a customer base across the globe in dynamic and fast-growing end markets, such as solar, automotive, consumer products, construction and energy. The Company is based in London. For more information, visit http://investor.ferroglobe.com.Forward-Looking StatementsThis release contains “forward-looking statements” within the meaning of U.S. securities laws. Forward-looking statements are not historical facts but are based on certain assumptions of management and describe Ferroglobe’s future plans, strategies and expectations. Forward-looking statements often use forward-looking terminology, including words such as “anticipate”, “believe”, “could”, “estimate”, “expect”, “forecast”, “guidance”, “intends”, “likely”, “may”, “plan”, “potential”, “predicts”, “seek”, “will” and words of similar meaning or the negative thereof.Forward-looking statements contained in this press release are based on information currently available to Ferroglobe and assumptions that management believe to be reasonable, but are inherently uncertain. As a result, Ferroglobe’s actual results, performance or achievements may differ materially from those expressed or implied by these forward-looking statements, which are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that are, in some cases, beyond Ferroglobe’s control.Forward-looking financial information and other metrics presented herein represent Ferroglobe’s goals and are not intended as guidance or projections for the periods referenced herein or any future periods.All information in this press release is as of the date of its release. Ferroglobe does not undertake any obligation to update publicly any of the forward-looking statements contained herein to reflect new information, events or circumstances arising after the date of this press release. You should not place undue reliance on any forward-looking statements, which are made only as of the date of this press release.CONTACT:  Gaurav Mehta EVP – Investor Relations  Email: investor.relations@ferroglobe.com

  • GlobeNewswire

    Ferroglobe Amends its Revolving Credit Facility

    Ferroglobe PLC (GSM) (“Ferroglobe” or the “Company”) announced today that it has obtained the consent of its lenders for and entered into an amendment (the “Amendment”) to its existing revolving credit agreement (the “RCF”).

  • Falling Earnings Estimates Signal Weakness Ahead for Ferroglobe (GSM)
    Zacks

    Falling Earnings Estimates Signal Weakness Ahead for Ferroglobe (GSM)

    Ferroglobe (GSM) has witnessed a significant price decline in the past four weeks, and is seeing negative earnings estimate revisions as well.

  • Moody's

    Ferroglobe PLC -- Moody's downgrades Ferroglobe's corporate family rating to Caa1; outlook negative

    Moody's Investors Service ("Moody's") has today downgraded to Caa1 from B3 Ferroglobe PLC's ('Ferroglobe') corporate family rating (CFR) and to Caa1-PD from B3-PD its probability of default rating (PDR). Concurrently, Moody's downgraded to Caa2 from Caa1 the senior unsecured rating assigned to the $350 million of senior unsecured notes issued by Ferroglobe and due in 2022. "The downgrade reflects Ferroglobe's weak liquidity position in the absence of new debt financing arrangements in place and the continued weak operating performance in Q2 2019.

  • Thomson Reuters StreetEvents

    Edited Transcript of GSM earnings conference call or presentation 4-Sep-19 1:00pm GMT

    Q2 2019 Ferroglobe PLC Earnings Call

  • Ferroglobe PLC (GSM) Q2 2019 Earnings Call Transcript
    Motley Fool

    Ferroglobe PLC (GSM) Q2 2019 Earnings Call Transcript

    GSM earnings call for the period ending June 30, 2019.

  • GlobeNewswire

    Ferroglobe Reports Second Quarter Results of 2019

    Q2 sales of $409.5 million, compared to $447.4 million in Q1 2019 and $577.9 million in Q2 2018Q2 net loss of $(43.7) million compared to a net loss of $(28.6) million in Q1.

  • GlobeNewswire

    Ferroglobe Completes the Sale of Spanish Hydro Facilities and One Ferroalloys Plant to TPG Sixth Street Partners

    Ferroglobe PLC (GSM) (“Ferroglobe” or the “Company”), announced today that it successfully completed and closed the previously-announced sale of its 100% interest in subsidiary FerroAtlántica, S.A.U. (“FerroAtlántica”) to investment vehicles affiliated with TPG Sixth Street Partners on August 30, 2019.  The FerroAtlántica assets transferred in this transaction include ten hydroelectric power plants with a combined generating capacity of approximately 167 MW, and the Cee-Dumbría ferroalloys factory, all located in the province of A Coruña (Spain). Simultaneously, the Company signed a long-term tolling agreement with FerroAtlántica under which it is the exclusive off-taker of Cee-Dumbría factory’s finished goods. In return for this exclusivity, Ferroglobe commits to supplying FerroAtlántica with key raw materials over the long term.

  • Analysts Estimate Globe Specialty Metals (GSM) to Report a Decline in Earnings: What to Look Out for
    Zacks

    Analysts Estimate Globe Specialty Metals (GSM) to Report a Decline in Earnings: What to Look Out for

    Globe Specialty Metals (GSM) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

  • Ferroglobe (NASDAQ:GSM) Has A Mountain Of Debt
    Simply Wall St.

    Ferroglobe (NASDAQ:GSM) Has A Mountain Of Debt

    Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...

  • GlobeNewswire

    Ferroglobe Welcomes Canadian Decision to Maintain Anti-dumping and Countervailing Duties on Silicon Metal imports from China

    Ferroglobe PLC (GSM) (“Ferroglobe” or the “Company”) welcomes the decision by the Canadian International Trade Tribunal (CITT) to continue its anti-dumping/countervailing duty (“AD/CVD”) finding in respect of imports of silicon metal from China for a further 5-year period. The original finding was made in November 2013 and resulted from a complaint filed jointly by the sole Canadian producer of silicon metal, Quebec Silicon Limited Partnership, and its marketing affiliate QSIP Canada ULC, both subsidiaries of the Company. The anti-dumping duties range from 47% to 235% and the countervailing duties range from RMB 1,460/MT to RMB 1,945/MT and have been in effect since 2013.

  • GlobeNewswire

    Ferroglobe PLC Schedules Second Quarter 2019 Earnings Investor Call for September 4, 2019

    LONDON, Aug. 15, 2019 -- Ferroglobe PLC (NASDAQ:GSM) announced today that it will discuss second quarter 2019 financial results and Ferroglobe's business outlook on Wednesday,.

  • Earnings Preview: Globe Specialty Metals (GSM) Q2 Earnings Expected to Decline
    Zacks

    Earnings Preview: Globe Specialty Metals (GSM) Q2 Earnings Expected to Decline

    Globe Specialty Metals (GSM) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

  • You Might Like Ferroglobe PLC (NASDAQ:GSM) But Do You Like Its Debt?
    Simply Wall St.

    You Might Like Ferroglobe PLC (NASDAQ:GSM) But Do You Like Its Debt?

    Ferroglobe PLC (NASDAQ:GSM) is a small-cap stock with a market capitalization of US$277m. While investors primarily...

  • Moody's

    Ferroglobe PLC -- Moody's downgrades Ferroglobe's corporate family rating to B3; ratings placed on review for downgrade

    Moody's Investors Service ("Moody's") has today downgraded to B3 from B1 Ferroglobe PLC's ('Ferroglobe') corporate family rating (CFR) and to B3-PD from B1-PD its probability of default rating (PDR). Concurrently, Moody's downgraded to Caa1 from B3 the senior unsecured rating of the $350 million of senior unsecured notes issued by Ferroglobe and due in 2022. "The downgrade reflects Ferroglobe's weak operating performance in Q1 2019, and further downward adjustment of Moody's projections for 2019-2020.

  • Is Ferroglobe PLC (GSM) A Good Stock To Buy?
    Insider Monkey

    Is Ferroglobe PLC (GSM) A Good Stock To Buy?

    The government requires hedge funds and wealthy investors that crossed the $100 million equity holdings threshold are required to file a report that shows their positions at the end of every quarter. Even though it isn't the intention, these filings level the playing field for ordinary investors. The latest round of 13F filings disclosed the […]

  • Thomson Reuters StreetEvents

    Edited Transcript of GSM earnings conference call or presentation 4-Jun-19 1:00pm GMT

    Q1 2019 Ferroglobe PLC Earnings Call

  • New Strong Sell Stocks for June 7th
    Zacks

    New Strong Sell Stocks for June 7th

    Here are 5 stocks added to the Zacks Rank 5 (Strong Sell) List today.