Ferroglobe Stock (NASDAQ:GSM), Trade Ideas

Ferroglobe

Ferroglobe PLC provides silicon-based alloys and specialty metals. It produces silicon metal and silicon and manganese-based alloy, serving customers in the specialty chemical, aluminum, solar, steel and ductile iron foundry industries. The company's business segments include North America - Silicon; Europe - Manganese; Europe - Silicon; South Africa - Silicon and Other segments The primary raw materials company uses to produce its electrometallurgy products includes its coal and quartz mining operations and its silicon metal and ferroalloy production.

mining ai

AMSYF

CENX

Top stories: 1. MX Holdings &amp; Century Aluminum form joint venture for low-carbon billet. 2. TMC praises U.S. legislation for seafloor resources. 3. ArcelorMittal buys stake in Vallourec. 4. Ferroglobe appoints Carsten Larsen as Chief Commercial Officer.

MX Holdings, Century Aluminum Form Joint Venture; TMC Supports Seafloor Legislation And More: Wednesday&#39;s Top Mining Stories

Price Target

Commodities

Analyst Ratings

AWCMF

METC

Top stories: 1. Alcoa buys Alumina Limited for $2.2B, shareholders to own 31.25% &amp; 68.75%. 2. Ferroglobe &amp; Coreshell to produce battery-ready silicon for EVs. 3. Nucor execs make insider purchases. 4. Analyst maintains Ramaco Resources with lowered price target. 5. Analyst maintains Alpha Metallurgical with lowered price target.

Alcoa Agrees To Buy Alumina Limited; Ferroglobe And Coreshell Explore EV Batteries; Nucor Insider Buys And More: Tuesday&#39;s Top Mining Stories

Penny Stocks

Small Cap

Markets

FQVLF

Ferroglobe Enters Supply Agreement With LONGi; MP Materials and Cleveland-Cliffs Announce Offerings And More: Monday&#39;s Top Mining Stories

Ferroglobe PLC

Indiana Resources Ltd

Cheer Holding Inc

G&S Minerals Inc

Top Stories for March 13, 2024:
1. MX Holdings and Century Aluminum Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CENX#NASDAQ">CENX</a>) are forming a joint venture to create and market low-carbon secondary billet, focusing on advanced alloys with high levels <a href="https://www.benzinga.com/topic/mining">of recycled content.</a> 
The venture aims to offer quality billets that help customers meet sustainability goals, with production starting in 2026. The facility location is under consideration in the Ohio Valley region.
The companies are aiming for an annual output of 250 million pounds, making it the largest American-owned secondary billet supplier globally.&nbsp;
Matt Rohm, CEO of MX Holdings, highlighted the complementary partnership and the venture's commitment to environmental goals.
Rohm said, "In addition to the joint venture's offering, we plan to continue to produce billet at our existing, wholly owned Pennex facilities. Each company will produce various alloys to meet specific customer needs."
2. TMC the metals company Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMC#NASDAQ">TMC</a>) praised new U.S. legislation aimed at supporting seafloor nodule collection, processing and refining, along with advancing international rules for seafloor resources. 
The Responsible Use of Seafloor Resources Act (RUSRA) seeks U.S. backing for ethical polymetallic nodule collection and federal investment in refining infrastructure for critical minerals, essential for the energy transition and national defense.&nbsp;
This comes as supply challenges for critical battery metals are on the rise due to growing demand from the automotive and battery industries to comply with incentives laid out in the Inflation Reduction Act.&nbsp;
The bill has wide support across offshore energy, marine exploration and global research sectors.
Chairman and CEO of The Metals Company Gerard Barron said, "we eagerly await the forthcoming Pentagon report on nodules as directed by the House Armed Services Committee. The Pentagon's ability and willingness to support a feasibility study for a domestic refinery could help establish mineral independence for the U.S. in nickel, cobalt and manganese."
Also Read:<a href="https://www.benzinga.com/etfs/sector-etfs/24/03/37568022/gold-etfs-diverge-from-spot-prices-record-ninth-consecutive-month-of-outflows"> </a><a href="https://www.benzinga.com/markets/asia/24/03/37633689/us-lawmakers-mull-bill-to-support-deep-sea-mining-aimed-at-challenging-chinas-grip-on-critical-miner">US Lawmakers Mull Bill To Support Deep-Sea Mining Aimed At Challenging China&#8217;s Grip On Critical Minerals</a>
3. ArcelorMittal (OTC:<a class="ticker" href="https://www.benzinga.com/stock/AMSYF#OTC">AMSYF</a>) agreed to buy a 28.4% stake (65,243,206 shares) in Vallourec from Apollo Global Management for €955 million, paying €14.64 per share. 
The deal is expected to close in the second half of the year pending regulatory approval and will boost ArcelorMittal&#8217;s presence in the high-value tubular market.&nbsp;
Vallourec is a leader in tubular solutions for the energy sector and more, with a focus on low-carbon production in the U.S. and Brazil.&nbsp;
Vallourec&#8217;s 2023 EBITDA was €1.2 billion from €5.1 billion in sales, with energy transition business expected to grow significantly by 2030.&nbsp;
ArcelorMittal will not seek to acquire more Vallourec shares within six months.
4. Ferroglobe PLC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GSM#NASDAQ">GSM</a>) appointed Carsten Larsen as chief commercial officer starting April 1, 2024. 
Larsen has 30 years of international experience in business growth, sales and team leadership, and comes from Agilyx ApS, a plastic recycling tech company.&nbsp;
His background includes extensive roles at Dow where he covered global markets in Germany, Denmark, Sweden and South Africa.
5. Citigroup analyst Alexander Hacking downgraded Cleveland-Cliffs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>) from Buy to Neutral and announced a <a href="https://www.benzinga.com/quote/CLF/analyst-ratings">$22 price target</a>.
6. Morgan Stanley analyst Carlos De Alba downgraded MP Materials (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MP#NYSE">MP</a>) from Overweight to Equal-Weight and announced a <a href="https://www.benzinga.com/quote/MP/analyst-ratings">$15.50 price target</a>.
Now Read:<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37569351/gold-rises-to-all-time-highs-marks-longest-winning-streak-since-july-2000-driven-by"> </a><a href="https://www.benzinga.com/news/24/03/37623431/lithium-mining-causes-pollution-but-new-methods-could-showcase-more-eco-friendly-approach">Lithium Mining Causes Pollution, But New Methods Could Showcase More Eco-Friendly Approach</a>
Benzinga Mining is the bridge between mining companies and retail investors. Reach out to <a href="mailto:licensing@benzinga.com">licensing@benzinga.com</a> to get connected with the Benzinga community!
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MX Holdings, Century Aluminum Form Joint Venture; TMC Supports Seafloor Legislation And More: Wednesday's Top Mining Stories

Top Stories for March 12, 2024:
1. Alcoa Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AA#NYSE">AA</a>) signed a deal to buy Alumina Limited (OTC:<a class="ticker" href="https://www.benzinga.com/stock/AWCMF#OTC">AWCMF</a>) in an all-stock transaction valued at A$1.15 per share <a href="https://www.benzinga.com/markets/equities/24/03/37611427/alcoa-seals-2-2b-deal-to-acquire-alumina-limited-amplifying-market-presence">or $2.2 billion in total.</a>
Post-transaction, Alumina shareholders will own 31.25% and Alcoa shareholders 68.75% of the merged entity.&nbsp;
The deal also involves issuing CHESS Depositary Interests for Alumina shareholders to trade on the ASX, with Alcoa planning an ASX secondary listing and maintaining it for at least 10 years. 
Additionally, two Australian directors from Alumina will join Alcoa&#8217;s Board, and Alcoa will provide short-term liquidity support to Alumina if needed, with conditions for repayment by September 2025 if the transaction is incomplete.&nbsp;
Allan Gray Australia, Alumina&#8217;s largest shareholder, supports the transaction.
2. Ferroglobe PLC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GSM#NASDAQ">GSM</a>) and Coreshell signed an <a href="https://www.ferroglobe.com/news-releases/news-release-details/ferroglobe-coreshell-sign-memorandum-understanding-deliver">agreement</a> to produce the first battery-ready metallurgical silicon for low-cost, high-range EV batteries.
The goal is to overcome current cost and range limitations by replacing graphite with silicon.&nbsp;
This partnership leverages Coreshell&#8217;s unique nanomaterial electrode coating to prevent silicon degradation and Ferroglobe&#8217;s cost-effective purification process for high-purity silicon.&nbsp;
The companies' combined technologies expect to enhance EV batteries&#8217; driving range by up to 30%, making electric vehicles more affordable and efficient.
CEO of Coreshell Jonathan Tan said, "Silicon stores 10 times the energy of graphite and it is available in sufficient quantity and quality. It is the only viable pathway to low-cost, long-range electric vehicle batteries that can be scaled rapidly using a 100% domestic supply chain." 
Also Read: <a href="https://www.benzinga.com/news/24/03/37611000/teslas-german-factory-back-online-after-arson-attack-disrupts-production">Tesla&#8217;s German Factory Back Online After Arson Attack Disrupts Production</a>
3. A number of executives at Nucor Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NUE#NYSE">NUE</a>) made significant insider purchases. 
<ul>
<li>The Chief Operating Officer David Sumoski made an insider purchase of 1,345 shares for a total of $250,030.</li>
<li>Executive Vice President Chad Utermark made an insider purchase of 6,115 shares for a total of $1,136,426.</li>
<li>Executive Vice President Daniel Needham made an insider purchase of 2,324 shares for a total of $431,860.</li>
</ul>
4. B. Riley Securities analyst Lucas Pipes maintained Ramaco Resources (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/METC#NASDAQ">METC</a>) with a Buy and lowered <a href="https://www.benzinga.com/quote/METC/analyst-ratings">his price target</a> from $32 to $25. Pipes maintained Alpha Metallurgical (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMR#NYSE">AMR</a>) with a Buy and lowered <a href="https://www.benzinga.com/quote/AMR/analyst-ratings">his price target</a> from $406 to $381.
Now Read: <a href="https://www.benzinga.com/news/large-cap/24/03/37547023/gold-shines-brighter-than-ai-driven-semiconductor-stocks-7-mining-stocks-to-watch-with-prices-at-r">Gold Shines Brighter Than AI-Driven Semiconductor Stocks: 7 Mining Stocks To Watch With The Ore At Record Highs</a>
Benzinga Mining is the bridge between mining companies and retail investors. Reach out to <a href="mailto:licensing@benzinga.com">licensing@benzinga.com</a> to get connected with the Benzinga community!
Image created using artificial intelligence with Midjourney.

Alcoa Agrees To Buy Alumina Limited; Ferroglobe And Coreshell Explore EV Batteries; Nucor Insider Buys And More: Tuesday's Top Mining Stories

News

Ferroglobe & Coreshell Sign Memorandum Of Understanding To Produce Battery-Grade Metallurgical Silicon For Electric Vehicles

Together, Ferroglobe and Coreshell expect to produce the first battery-ready metallurgical silicon for the development of low-cost, high-range EV batteries in compliance with the U.S. Inflation Reduction Act.&nbsp;

Ferroglobe & Coreshell Ink MoU To Deliver First Battery-Grade Metallurgical Silicon For Electric Vehicles

Top Stories for Mar. 4, 2024: 
1. The <a href="https://www.benzinga.com/topic/mining">silicon metal and ferro alloys</a> producer Ferroglobe PLC (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/gsm#NASDAQ">GSM</a>) and the solar technology company LONGi announced a long-term silicon supply agreement which took effect on Jan. 1, 2024.
Under the three-year agreement, Ferroglobe will provide LONGi with high-quality quartzite and metallurgical grade silicon to support LONGi&#39;s strategy of increasing purchases from top Western silicon suppliers.
2. MP Materials Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mp#NYSE">MP</a>) plans to offer $500 million in Convertible Senior Notes due in 2030 to qualified institutional buyers, with an option to purchase up to an additional $75 million in notes.
The notes are senior unsecured obligations, will pay interest semi-annually and are set to mature on March 1, 2030, unless they are converted, redeemed or repurchased earlier.
The notes can also be converted into cash, MP Materials&#39; common stock or a combination thereof, at the company&#39;s discretion.
The net proceeds from the offering are intended for funding capped call transactions, repurchasing up to $300 million of the company&rsquo;s common stock, repurchasing a portion of its 0.25% green convertible senior notes due in 2026 and for general corporate purposes.
3. Cleveland-Cliffs Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/clf#NYSE">CLF</a>) announced plans to offer $750 million in senior unsecured guaranteed notes due in 2032, exempt from the Securities Act&#39;s registration requirements.
The notes will be guaranteed on a senior unsecured basis by its major wholly-owned domestic subsidiaries, with certain exclusions.
The proceeds and the company&rsquo;s current available liquidity are intended to fully repurchase or redeem the company&#39;s outstanding 6.750% Senior Secured Notes due in 2026.
Cleveland-Cliffs&rsquo; Senior Vice President of Finance Paul R. Finan said this is a standard refinancing, replacing its 2026 secured notes with 2032 unsecured notes due to a favorable decrease in the call price and healthy high-yield market conditions.
The move eliminates $3.7 billion in secured debt, improves financial flexibility, maintains leverage and keeps interest expenses unchanged.
4. BHP Group Limited (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bhp#NYSE">BHP</a>) signed non-binding agreements for all potash production in both phases of the mine it is building in Jansen, Saskatchewan.
The company will convert the agreements to firm offtakes within 12 to18 months.
BHP CEO Ragnar Udd also said the company is not looking to acquire the idle Cobre Panama copper mine from First Quantum Minerals (OTCMKTS: FQVLF).
5. Newmont Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nem#NYSE">NEM</a>) and its wholly owned subsidiary, Newcrest Finance Pty Limited, initiated a private offering of their notes due in 2026 and 2034, guaranteed by Newmont USA Limited.
The proceeds from this offering will primarily be used to repay all outstanding borrowings under Newmont&#39;s revolving credit facility, with any remaining funds allocated for general corporate purposes.
This effort follows Newmont&rsquo;s use of its revolving credit facility and cash on hand to repay around $1.9 billion of bilateral credit debt incurred from acquiring Newcrest Mining Limited.
The offering is restricted to qualified institutional buyers and certain non-U.S. persons, as the notes will not be registered under the Securities Act or any state securities laws and cannot be sold in the U.S. without registration or an exemption.
Now Read:&nbsp;<a href="https://www.benzinga.com/news/large-cap/24/03/37469946/gold-breaks-above-2-110-inches-closer-to-record-high-with-rallying-mining-stocks">Gold Breaks Above $2,110, Inches Closer To Record High, With Rallying Mining Stocks</a>
Photo: Shutterstock

Ferroglobe Enters Supply Agreement With LONGi; MP Materials and Cleveland-Cliffs Announce Offerings And More: Monday's Top Mining Stories

Chinese solar technology company&nbsp;LONGi&nbsp;has entered into a long-term supply agreement with the silicon metal and ferroalloys producer&nbsp;Ferroglobe PLC&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GSM#NASDAQ">GSM</a>),&nbsp;<a target="_blank" href="https://www.benzinga.com//node/37449685" rel="noreferrer noopener">effective January 1, 2024.</a>
Under the terms of the agreement, Ferroglobe will supply high-quality quartzite and metallurgical grade silicon (MGS) to LONGi.
This is expected to support LONGi&#8217;s strategy to increase purchases from Western suppliers of silicon materials.
LONGi has manufacturing facilities and sales offices in more than 150 countries and regions worldwide.
&#8220;We are thrilled to announce our long-term partnership with Ferroglobe,&#8221; said Tian Ye, Vice President, LONGi. &#8220;This strategic move will enable us to supply our trusted customers and partners with LONGi&#8217;s dependable, high-efficiency, and eco-friendly solar products worldwide.&#8221;
Last month, Ferroglobe registered a 36% year-on-year decline in&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/02/g37248313/ferroglobe-reports-solid-fourth-quarter-and-full-year-2023-financial-results" rel="noreferrer noopener">revenue in FY23 to $1.7 billion</a>.
Price Action: GSM shares are trading higher by 0.44% at $4.57 in premarket on the last check Monday.
Photo via Shutterstock

Equities

General

Solar Firm LONGi Inks Silicon Supply Agreement With Ferroglobe

LONGi, the world&#39;s leading Solar technology company, and Ferroglobe PLC, a world leading producer of Silicon Metal and Ferroalloys, are pleased to announce that they have entered into a long-term supply agreement effective&nbsp;January 1, 2024.
This agreement consolidates the partnership between the two companies and paves the way for even stronger collaboration in the future. Under the terms of the agreement, Ferroglobe will supply high-quality quartzite and metallurgical grade silicon (MGS) to LONGi to support its strategy to increase purchases from the leading Western suppliers of silicon materials.

LONGi and Ferroglobe Announce Silicon Long-Term Agreement, Financial Terms Unidsclosed

Guidance

Ferroglobe Sees FY24 Adj. EBITDA $100M-$170M

Ferroglobe (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GSM#NASDAQ">GSM</a>) reported quarterly earnings of $0.09 per share which beat the analyst consensus estimate of $0.02 by 350 percent. The company reported quarterly sales of $375.95 million which beat the analyst consensus estimate of $318.80 million by 17.93 percent. This is a 16.20 percent decrease over sales of $448.63 million the same period last year.

Earnings

Earnings Beats

Ferroglobe Q4 2023 Adj EPS $0.09 Beats $0.02 Estimate, Sales $375.95M Beat $318.80M Estimate

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Earnings Scheduled For February 21, 2024

Contracts

Ferroglobe Announces Long-Term Silicon Supply Agreement With LONGi; Ferroglobe Will Supply Quartz And Silicon To Longi

As of Dec. 8, 2023, five stocks in the materials sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.
The RSI is a momentum indicator, which compares a stock&#39;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#39;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered overbought when the <a href="https://www.benzinga.com/topic/rsi"> RSI is above 70</a>, according to <a href="https://pro.benzinga.com/"> Benzinga Pro</a>.
Here&rsquo;s the latest list of major overbought players in this sector.
<h3>Ranpak Holdings Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pack#NYSE">PACK</a>)</h3>
<ul>
<li>On Oct. 31, Ranpak Hldgs posted a narrower-than-expected third-quarter loss. &quot;We are pleased to report continued improvement in our operating and financial profile as volumes increased year over year and we continue to see gross margin expansion,&quot; said Omar M. Asali, Chairman and Chief Executive of Ranpak. The company&rsquo;s stock jumped around 51% over the past month and has a <a href="https://www.benzinga.com/quote/PACK">52-week high of $8.24 </a>.</li>
<li>RSI Value: 71.40</li>
<li>PACK Price Action: Shares of Ranpak Holdings gained 7% to close at $4.61 on Thursday.</li>
</ul>
<h3>Stepan Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/scl#NYSE">SCL</a>)</h3>
<ul>
<li>On Oct. 18, Stepan reported a third-quarter FY23 sales decrease of 22% year-on-year, to $562.226 million. &quot;Specific to the third quarter, Surfactant unit margins were lower versus the prior year due to less favorable product mix, high-cost raw material inventory carryover, and pricing pressure in Latin America from imported products. Specialty Product unit margins were significantly lower due to high-cost inventory and pricing pressure related to increased MCT import activity,&quot; said Scott Behrens, President and Chief Executive Officer. The company&rsquo;s stock gained around 17% over the past month and <a href="https://www.benzinga.com/quote/SCL"> has a 52-week high </a> of $114.97.</li>
<li>RSI Value: 82.17</li>
<li>SCL Price Action: Shares of Stepan gained 4.2% to close at $89.34 on Thursday.</li>
</ul>
<h3>Orion S.A. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/oec#NYSE">OEC</a>)</h3>
<ul>
<li>On Nov. 2, Orion Engineered Carbons posted upbeat quarterly earnings. &quot;I am pleased to announce that we delivered $77 million of Adjusted EBITDA this quarter in the face of weak demand in many of our key markets. In addition, for the nine months, we achieved record adjusted diluted earnings per share up $0.06, to $1.76 from prior year,&quot; said Corning Painter, Orion&rsquo;s chief executive officer. The company&rsquo;s stock jumped around 22% over the past month and has a <a href="https://www.benzinga.com/quote/OEC"> 52-week high </a> of $26.91.</li>
<li>RSI Value: 81.81</li>
<li>OEC Price Action: Shares of Orion gained 4% to close at $25.78 on Thursday.</li>
</ul>
<h3>Ferroglobe PLC (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/gsm#NASDAQ">GSM</a>)</h3>
<ul>
<li>On Nov. 7, Ferroglobe posted better-than-expected third-quarter earnings. &ldquo;The company continued to perform well in a difficult market environment,&rdquo; commented Dr. Marco Levi, Ferroglobe&rsquo;s Chief Executive Officer. The company&rsquo;s stock gained around 30% over the past month and has a 52-week high is $6.24.</li>
<li>RSI Value: 75.06</li>
<li>GSM Price Action: Shares of Ferroglobe gained 1.7% to close at $6.11 on Thursday.</li>
</ul>
<h3>H.B. Fuller Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ful#NYSE">FUL</a>)</h3>
<ul>
<li>On Sept. 27, H.B. Fuller posted weaker-than-expected quarterly earnings. &quot;In the third quarter we successfully drove a double-digit increase in adjusted EBITDA year-on-year and increased adjusted EBITDA margin meaningfully, demonstrating the strength of our business model and ability to increase profitability regardless of market conditions,&quot; said Celeste Mastin, H.B. Fuller president and chief executive officer. The company&rsquo;s stock jumped around 12% over the past month and <a href="https://www.benzinga.com/quote/FUL"> has a 52-week high </a> of $80.29.</li>
<li>RSI Value: 75.80</li>
<li>FUL Price Action: Shares of H.B. Fuller gained 1.7% to close at $79.11 on Thursday.</li>
</ul>
&nbsp;
Read More: <a href="https://www.benzinga.com/news/earnings/23/12/36127699/how-to-earn-500-a-month-from-campbell-soup-stock-following-upbeat-earnings"> How To Earn $500 A Month From Campbell Soup Stock Following Upbeat Earnings </a>

Short Ideas

Pre-Market Outlook

Trading Ideas

PACK

Top 5 Materials Stocks That May Crash This Quarter

On CNBC&rsquo;s &quot;Mad Money Lightning Round,&quot; Jim Cramer said he is &quot;pulling the plug&quot; on Plug Power Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/plug#NASDAQ">PLUG</a>) &quot;No-go <a href="https://www.benzinga.com/news/23/11/35811148/plug-power-stock-re-charges-after-q3-earnings-disappointment-whats-going-on"> from me,&quot; he added.</a>
The Latham, New York-based company <a href="https://www.benzinga.com/wiim/23/11/35833149/plug-power-shares-are-trading-lower-after-citigroup-downgraded-the-stock-from-buy-to-neutral-and-low">keeps missing the quarters</a>.
Cramer recommended buying Cleveland-Cliffs Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/clf#NYSE">CLF</a>). &quot;It&rsquo;s really well-run,&quot; he noted.
See Also: <a href="https://www.benzinga.com/etfs/specialty-etfs/23/03/31299793/exclusive-jim-cramer-recommended-svb-financial-in-february-an-example-of-his-reverse-midas-to">EXCLUSIVE - Jim Cramer Recommended SVB Financial In February, An Example Of &#39;His Reverse Midas Touch&#39;</a>
&quot;I think you&rsquo;re rolling the dice,&quot; Cramer said when asked about Marathon Digital Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mara#NASDAQ">MARA</a>), &quot;You want to own Bitcoin, own Bitcoin.&quot;
Cramer said he likes Super Micro Computer, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/smci#NASDAQ">SMCI</a>). &quot;It&rsquo;s a derivative of NVIDIA Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nvda#NASDAQ">NVDA</a>), frankly,&quot; he added.
Don&rsquo;t forget to check out our <a href="https://www.benzinga.com/premarket/"> premarket coverage here </a> 
The &quot;Mad Money&quot; host said InterDigital, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/idcc#NASDAQ">IDCC</a>) is a premier digital wireless company, and is still inexpensive. &quot;I can&rsquo;t believe that it&rsquo;s still at these low prices,&quot; he added.
When asked about MP Materials Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mp#NYSE">MP</a>), he said, &quot;It&rsquo;s just not coming together fast enough.&quot;
Cramer said he would &quot;wait for a pullback&quot; in Ferroglobe PLC&rsquo;s (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/gsm#NASDAQ">GSM</a>) stock. The company&rsquo;s stock has gained over 35% over the previous month.
Price Action:
<ul>
<li>Shares of Ferroglobe closed at $6.12.</li>
<li>MP Materials rose 0.1% to $16.92 on Monday.</li>
<li>InterDigital gained 1.4% to $102.42.</li>
<li>NVIDIA fell 2.7% to $455.10 during Monday&rsquo;s session.</li>
<li>Super Micro Computer fell 1.2% to $266.35.</li>
<li>Marathon Digital shares jumped 8.5% to settle at $14.86.</li>
<li>Cleveland-Cliffs shares rose 0.4%.</li>
<li>Plug Power rose 5.7% on Monday.</li>
</ul>
Now Read This: <a href="https://www.benzinga.com/news/earnings/23/12/36063629/how-to-earn-500-a-month-from-dell-stock-following-last-weeks-upbeat-earnings"> How To Earn $500 A Month From Dell Stock Following Last Week&#39;s Upbeat Earnings </a>

Long Ideas

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MARA

PLUG

SMCI

'Wait For A Pullback:' Jim Cramer On This Materials Stock Up 35% Over Past Month

U.S. stock futures traded higher this morning, with the Dow Jones futures gaining more than 80 points on Friday.
Shares of Dell Technologies Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dell#NYSE">DELL</a>) moved lower in pre-market trading after the company reported <a href="https://www.benzinga.com/news/earnings/23/11/36034845/dell-stock-ticks-higher-amid-mixed-q3-earnings-report-the-details">results for its third quarter.</a>
Dell reported quarterly earnings of $1.88 per share, topping the analyst consensus estimate of $1.47. Revenue of $22.25 billion missed the analyst consensus estimate of $23.00 billion.
Dell shares declined 5.1% to $72.00 in pre-market trading.
Here are some big stocks recording losses in today&rsquo;s pre-market trading session.
<ul>
<li>Incannex Healthcare Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ixhl#NASDAQ">IXHL</a>) shares dipped 32.6% to $5.38 in pre-market trading after gaining 85% on Thursday.</li>
<li>MorphoSys AG (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mor#NASDAQ">MOR</a>) shares declined 8.9% to $6.23 in pre-market trading after gaining 15% on Thursday.</li>
<li>Ferroglobe PLC (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/gsm#NASDAQ">GSM</a>) shares fell 6.7% to $5.40 in pre-market trading after gaining around 8% on Thursday.</li>
<li>Marvell Technology, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mrvl#NASDAQ">MRVL</a>) shares fell 4.8% to $53.01 in pre-market trading after the company reported third-quarter earnings results.</li>
<li>Super Micro Computer, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/smci#NASDAQ">SMCI</a>) shares fell 3.4% to $264.32 in pre-market trading. Supermicro priced its public offering of 2,100,700 common shares at $262 per share.</li>
<li>BioNTech SE (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bntx#NASDAQ">BNTX</a>) shares declined 3.2% to $97.18 in pre-market trading.</li>
</ul>
&nbsp;
Now Read This: <a href="https://www.benzinga.com/news/earnings/23/12/36038008/dell-technologies-genesco-and-3-stocks-to-watch-heading-into-friday"> Dell Technologies, Genesco And 3 Stocks To Watch Heading Into Friday</a>
Don&rsquo;t forget to check out our <a href="https://www.benzinga.com/premarket/"> premarket coverage here </a>

Movers

BNTX

DELL

IXHL

Morgan Stanley Capital Protected Notes for S&P 500 Index

MRVL

Dell Reports Mixed Q3 Results, Joins Marvell Technology, Super Micro Computer And Other Big Stocks Moving Lower In Friday's Pre-Market Session

<h3>The Meaning Behind Value Stocks</h3>
A value stock is traditionally defined in terms of how investors in the marketplace are valuing that company's future growth prospects. Low P/E multiples are good base indicators that the company is undervalued and can most likely be labelled as a value stock. 
<h2>The following stocks are considered to be notable value stocks in the basic materials sector:</h2>
<ol>
<li>United States Steel (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>) - P/E: 7.32</li>
<li>Celanese (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CE#NYSE">CE</a>) - P/E: 6.26</li>
<li>LSB Industries (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LXU#NYSE">LXU</a>) - P/E: 6.51</li>
<li>Warrior Met Coal (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HCC#NYSE">HCC</a>) - P/E: 5.36</li>
<li>Ferroglobe (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GSM#NASDAQ">GSM</a>) - P/E: 8.98</li>
</ol>
Most recently, United States Steel reported earnings per share at $1.4, whereas in Q2 earnings per share sat at $1.92. The company's most recent dividend yield sits at 0.62%, which has decreased by 0.16% from 0.78% last quarter. 
This quarter, Celanese experienced an increase in earnings per share, which was $2.17 in Q2 and is now $2.5. The company's most recent dividend yield sits at 2.29%, which has increased by 0.03% from 2.26% last quarter. 
LSB Industries's earnings per share for Q3 sits at $-0.1, whereas in Q2, they were at 0.25. Warrior Met Coal has reported Q3 earnings per share at $1.85, which has increased by 13.5% compared to Q2, which was 1.63. The company's most recent dividend yield sits at 0.6%, which has decreased by 0.06% from 0.66% last quarter. 
Most recently, Ferroglobe reported earnings per share at $0.27, whereas in Q2 earnings per share sat at $0.3. Most recently, the company reported a dividend yield of 2.99%, which has increased by 0.88% from last quarter's yield of 2.11%.
The Significance: A value stock may need some time to rebound from its undervalued position. The risk of investing in a value stock is that this emergence may never materialize.

5 Value Stocks To Watch In The Basic Materials Sector

Ferroglobe (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GSM#NASDAQ">GSM</a>) reported quarterly Adj earnings of $0.27 per share which beat the analyst consensus estimate of $0.18 by 50 percent. This is a 57.81 percent decrease over earnings of $0.64 per share from the same period last year. The company reported quarterly sales of $416.81 million which beat the analyst consensus estimate of $390.35 million by 6.78 percent. This is a 29.74 percent decrease over sales of $593.22 million the same period last year.

Ferroglobe Q3 Adj EPS $0.27 Beats $0.18 Estimate, Sales $416.81M Beat $390.35M Estimate

Ferroglobe PLC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GSM#NASDAQ">GSM</a>) ("Ferroglobe", the "Company", or the "Parent"), a leading global producer of silicon metal, silicon-based and manganese-based specialty alloys, announces the acquisition of a strategic, high-purity quartz mine in South Carolina, U.S. The purchase price was approximately $11 million in cash with an additional $4 million expected in capital expenditures to build out the infrastructure, including rail access, loadout, and a processing facility. &nbsp;
High-purity quartz is the key raw material in the supply chain and is required for the production of high-purity silicon metal, which is used in applications for solar and advanced battery technologies. These end markets are expected to experience dramatic growth in the coming years, driven by secular trends in the market. In addition, the U.S. is making significant investments in its solar value chain and advanced battery technologies, evidenced by the Department of Energy's addition of silicon to its critical materials list. This acquisition helps ensure that Ferroglobe has access to this critical material, enabling it to meet the increasing demand for high-purity silicon metal.
The South Carolina mine has the capacity to produce more than 300kt of high-purity quartz per year, with more than ten years of reserve life. It is located near a rail line with a lower cost of production than Ferroglobe's existing quartz operations in Alabama. Production is expected to begin in the second half of 2024.
The purchase of the mine is part of Ferroglobe's long-term strategy to be fully self-sufficient in quartz supply, a critical raw material in the production of silicon metal. This transaction increases the company's global vertical integration in quartz supply, with the U.S. becoming fully backward integrated.
"The acquisition of the South Carolina property highlights our commitment to leveraging the strong growth expected from solar and advanced batteries in the coming years," said Marco Levi, Ferroglobe's Chief Executive Officer. "Not only does this acquisition ensure that we have access to a dependable supply of high-purity quartz, eliminating the need for third-party suppliers in the U.S., it also expands our mining capacity by 50% over our current mining level in Alabama."

Ferroglobe Acquires Strategic High-purity Quartz Mine In The U.S. For ~$11M In Cash With An Additional $4M Expected In Capital Expenditures To Build Out The Infrastructure, Including Rail Access, Loadout, And A Processing Facility

<h3>What are Value Stocks?</h3>
A value stock is traditionally defined in terms of how investors in the marketplace are valuing that company's future growth prospects. Low P/E multiples are good base indicators that the company is undervalued and can most likely be labelled as a value stock. 
<h2>Below is a list of notable value stocks in the basic materials sector:</h2>
<ol>
<li>Arch Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARCH#NYSE">ARCH</a>) - P/E: 3.32</li>
<li>Ferroglobe (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GSM#NASDAQ">GSM</a>) - P/E: 5.8</li>
<li>Buenaventura Mining Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BVN#NYSE">BVN</a>) - P/E: 3.75</li>
<li>Ternium (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TX#NYSE">TX</a>) - P/E: 6.22</li>
<li>Hudson Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HDSN#NASDAQ">HDSN</a>) - P/E: 9.24</li>
</ol>
Arch Resources saw a decrease in earnings per share from 10.02 in Q1 to $4.04 now. Most recently, Ferroglobe reported earnings per share at $0.3, whereas in Q1 earnings per share sat at $0.05. The company's most recent dividend yield sits at 2.99%, which has increased by 0.88% from 2.11% last quarter. 
Buenaventura Mining Co has reported Q2 earnings per share at $-0.03, which has decreased by 112.0% compared to Q1, which was 0.25. Most recently, the company reported a dividend yield of 1.41%, which has increased by 0.69% from last quarter's yield of 0.72%.
This quarter, Ternium experienced an increase in earnings per share, which was $1.91 in Q1 and is now $3.19. Its most recent dividend yield is at 9.5%, which has increased by 2.99% from 6.51% in the previous quarter.
Hudson Technologies's earnings per share for Q2 sits at $0.41, whereas in Q1, they were at 0.33. 
The Significance: A value stock may need some time to rebound from its undervalued position. The risk of investing in a value stock is that this emergence may never materialize.

ARCH

HDSN

<h3>What is a Value Stock?</h3>
A value stock is traditionally defined in terms of how investors in the marketplace are valuing that company's future growth prospects. Low P/E multiples are good base indicators that the company is undervalued and can most likely be labelled as a value stock. 
<h2>The following stocks are considered to be notable value stocks in the basic materials sector:</h2>
<ol>
<li>Perimeter Solutions (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PRM#NYSE">PRM</a>) - P/E: 5.35</li>
<li>Ferroglobe (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GSM#NASDAQ">GSM</a>) - P/E: 6.22</li>
<li>Warrior Met Coal (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HCC#NYSE">HCC</a>) - P/E: 5.49</li>
<li>Ramaco Resources (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/METC#NASDAQ">METC</a>) - P/E: 5.93</li>
<li>Cemex (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CX#NYSE">CX</a>) - P/E: 3.96</li>
</ol>
Perimeter Solutions has reported Q2 earnings per share at $0.31, which has increased by 416.67% compared to Q1, which was 0.06. Ferroglobe's earnings per share for Q2 sits at $0.3, whereas in Q1, they were at 0.05. Its most recent dividend yield is at 2.99%, which has increased by 0.88% from 2.11% in the previous quarter.
Warrior Met Coal saw a decrease in earnings per share from 3.57 in Q1 to $1.63 now. The company's most recent dividend yield sits at 0.66%, which has decreased by 0.1% from 0.76% last quarter. 
Ramaco Resources has reported Q2 earnings per share at $0.17, which has decreased by 70.18% compared to Q1, which was 0.57. The company's most recent dividend yield sits at 5.57%, which has decreased by 0.23% from 5.8% last quarter. 
Cemex's earnings per share for Q2 sits at $0.18, whereas in Q1, they were at 0.15. 
These 5 value stocks were selected by Benzinga Insights based on quantified analysis. While this methodical judgment process is not meant to make final decisions, our technology can give investors additional perception into the sector.

Overview Of Value Stocks In The Basic Materials Sector

<h3>The Meaning Behind Value Stocks</h3>
A value stock is traditionally defined in terms of how investors in the marketplace are valuing that company's future growth prospects. Low P/E multiples are good base indicators that the company is undervalued and can most likely be labelled as a value stock. 
<h2>Benzinga Insights has compiled a list of value stocks in the basic materials sector that may be worth watching:</h2>
<ol>
<li>SilverCrest Metals (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/SILV#AMEX">SILV</a>) - P/E: 8.48</li>
<li>Ferroglobe (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GSM#NASDAQ">GSM</a>) - P/E: 6.46</li>
<li>Boise Cascade (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BCC#NYSE">BCC</a>) - P/E: 6.92</li>
<li>LSB Industries (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LXU#NYSE">LXU</a>) - P/E: 7.15</li>
<li>CVR Partners (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UAN#NYSE">UAN</a>) - P/E: 3.5</li>
</ol>
This quarter, SilverCrest Metals experienced a decrease in earnings per share, which was $0.18 in Q1 and is now $0.16. Most recently, Ferroglobe reported earnings per share at $0.3, whereas in Q1 earnings per share sat at $0.05. Its most recent dividend yield is at 2.99%, which has increased by 0.88% from 2.11% in the previous quarter.
Boise Cascade saw an increase in earnings per share from 2.43 in Q1 to $3.67 now. The company's most recent dividend yield sits at 0.81%, which has decreased by 0.07% from 0.88% last quarter. 
LSB Industries has been featured as a value stock. LSB Industries's Q2 EPS sits at $0.25, which has not changed since last quarter (Q1). This quarter, CVR Partners experienced a decrease in earnings per share, which was $9.64 in Q1 and is now $5.66. The company's most recent dividend yield sits at 18.31%, which has decreased by 28.2% from 46.51% last quarter. 
These 5 value stocks were selected by Benzinga Insights based on quantified analysis. While this methodical judgment process is not meant to make final decisions, our technology can give investors additional perception into the sector.

SILV

5 Value Stocks In The Basic Materials Sector

Ferroglobe: Cheap, But Probably Should Be Due To Management

Ferroglobe touts world's first battery-grade metallurgical silicon for EVs

A rating of 94 puts Ferroglobe PLC (GSM) near the top of the Other Industrial Metals and Minerals industry according to InvestorsObserver. Ferroglobe PLC's score of 94 means it scores higher than 94% of stocks in the industry. Ferroglobe PLC also received an overall rating of 49, putting it above 49% of all stocks. Other I

Where Does Ferroglobe PLC (GSM) Stock Fall in the Other Industrial Metals & Minerals Field After It Has Gained 1.15% This Week?

Warning: GSM is at high risk of performing badly

The 45 rating InvestorsObserver gives to Ferroglobe PLC (GSM)  stock puts it near the top of the Basic Materials sector.In addition to scoring higher than 71 percent of stocks in the Basic Materials sector, GSM's 45 overall rating means the stock scores better than 45 of all stocks. GSM has an Overall Score of 45. Find out

Will Ferroglobe PLC (GSM) Outperform the Rest of the Stocks in the Basic Materials Sector?

Ferroglobe declares $0.013 dividend

Ferroglobe PLC (GSM) has released an update. Ferroglobe PLC and its U.S. subsidiary have filed petitions alleging that imports of ferrosilicon from...

Ferroglobe Seeks Fair Play in Ferrosilicon Market

Ferroglobe PLC (GSM) has released an update. The U.S. International Trade Commission has made a preliminary determination that imports of ferrosili...

USITC Backs Ferroglobe in Preliminary Trade Ruling

Press Releases

Ferroglobe Reports Strong Third Quarter 2023 Financial Results

Ferroglobe PLC Schedules Fourth Quarter and Full Year 2023 Earnings Call for February 22, 2024

Ferroglobe Announces the Full Redemption of its Remaining 9.375% Senior Secured Notes Due 2025

Ferroglobe and LONGi Announce Long-term Silicon Supply Agreement

Ferroglobe Reports Solid Fourth Quarter and Full Year 2023 Financial Results

LONGi and Ferroglobe Announce Silicon Long-Term Agreement

Ferroglobe & Coreshell Sign a Memorandum of Understanding to Deliver World's First Battery-Grade Metallurgical Silicon for Electric Vehicles

Management

Ferroglobe Appoints Carsten Larsen as Chief Commercial Officer

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