Ferroglobe (NASDAQ:GSM) Stock, Quote.Headers.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.

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The energy transition towards renewable resources is driving demand for manganese, graphite, silicon, and fluorspar, highlighting China&#39;s dominance. Companies are looking to bolster the ex-China supply chain for these critical minerals.

Beyond Lithium: Strategic Battle For Fluorspar And Other Essential Minerals In Global Energy Politics

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U.S. Antimony halts Mexico operations; Piedmont Lithium finds new high-grade zones; Ferroglobe sees positive net cash and more.

US Antimony Halts Mexico Operations; Piedmont Lithium New Discoveries; Ferroglobe Sees Positive Net Cash And More: Wednesday&#39;s Top Mining Stories

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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

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Ferroglobe Narrows Adj. EBITDA $130M-$170M To $150M-$170M

Ferroglobe (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GSM#NASDAQ">GSM</a>) reported quarterly earnings of $0.13 per share which beat the analyst consensus estimate of $0.05 by 160 percent. The company reported quarterly sales of $451.048 million which beat the analyst consensus estimate of $425.400 million by 6.03 percent. This is a 1.18 percent decrease over sales of $456.441 million the same period last year.

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Ferroglobe Q2 2024 Adj. EPS $0.13 Beats $0.05 Estimate, Sales $451.048M Beat $425.400M Estimate

WASHINGTON — While copper, lithium, nickel and cobalt often grab headlines when it <a href="https://www.benzinga.com/government/24/06/39554280/exclusive-glencore-other-experts-say-us-permitting-system-holding-back-domestic-battery-metals-indus">comes to battery metals</a>, there is an array of other minerals important to the energy transition away from fossil fuels.
As the importance of manganese, graphite, silicon and fluorspar grows alongside demand for electric vehicles and renewable energy storage, that dynamic also highlights China's dominance of these industries.
As government leaders in the United States and Europe work to build out their ex-China supply chains for a host of critical and strategic minerals, industry executives gathered at a recent&nbsp;Benchmark Mineral Intelligence&nbsp;mining conference in Washington, D.C., to discuss minerals and geopolitics.
Also Read: <a href="https://www.benzinga.com/markets/commodities/24/06/39525469/exclusive-lithium-may-jump-more-than-60-as-low-prices-knock-out-the-chaff-industry-ceo-says">EXCLUSIVE: Lithium May Jump More Than 60% As Low Prices &#8216;Knock Out The Chaff,&#8217; Industry CEO Says</a>
Here's a look at what they had to say:
Manganese
"We're all facing the issue of China, where the dominance is," said&nbsp;Danny Keating, CEO of&nbsp;Giyani Metals Corp.&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/CATPF#OTC">CATPF</a>), a Canadian miner developing manganese assets in Botswana. "We're no different in manganese."
Giyani is looking to help bolster the ex-China supply chain for manganese, he said.&nbsp;
Manganese is mined in multiple countries around the world, but more than 90% of the world's refined manganese comes from China. That creates a key choke point for a material used in lithium batteries.&nbsp;
Batteries, which account for 2%-3% of global manganese demand, are the largest market for the metal outside of its use as an alloy in various metals, according to the&nbsp;International Manganese Institute. The industry group said manganese is the fourth most used metal in the world based on tonnage, behind only iron, aluminum and copper.
Manganese ore prices rallied earlier in the year when a cyclone took out production at an Australian mine owned by&nbsp;South32 Ltd.&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/SOUHY#OTC">SOUHY</a>) and&nbsp;Anglo American&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/NGLOY#OTC">NGLOY</a>), halting 12% of global supply, according to&nbsp;S&amp;P Global Commodity Insights.&nbsp;
Prices have since pulled back but remain elevated compared to the beginning of the year.
Aside from Giyani, other small publicly traded companies involved in manganese include&nbsp;Euro Manganese Inc.&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/EUMNF#OTC">EUMNF</a>) and&nbsp;Manganese X Energy Corp.&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/MNXXF#OTC">MNXXF</a>).
Graphite
After spending the better part of a decade in the lithium business,&nbsp;Vincent Ledoux-Pedailles&nbsp;three months ago took a job as the chief commercial officer for privately-held New Zealand-based&nbsp;CarbonScape Ltd.
The venture-capital backed company is commercializing technology to make graphite more sustainably than the current synthetic or natural versions. Its process turn waste from the timber industry into what it calls "biographite"
Because the process uses cheap wood chips, Ledoux-Pedailles said the technology can produce graphite at a lower cost than in China, which dominates graphite production.
The company points out that its process can be used anywhere in the world, enabling nations concerned about critical materials to produce graphite locally, potentially freeing electric vehicle markets in Europe and North America from China's grip on the material.
CarbonScape's last round of funding raised $18 million in September, according to private market data provider&nbsp;PitchBook. Ledoux-Pedailles said at the conference that the company plans to have another round of financing later this year.
Publicly-traded graphite companies include&nbsp;Graphite One Inc.&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/GPHOF#OTC">GPHOF</a>) and&nbsp;Nouveau Monde Graphite (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NMG#NYSE">NMG</a>).
Silicon
While graphite has proven its use in lithium batteries, silicon is more of an emerging technology.
Silicon can hold more energy than graphite, but the material swells during charging, degrades over time and is too expensive for mass use in electric vehicles.
Several companies are working on improving silicon battery technology because it holds the potential to increase electric-vehicle range, decrease charging times and lower battery costs.
One of those companies is venture-capital backed&nbsp;Advano, which last month announced the final stage of commissioning at its industrial pilot plant in anticipation of beginning production.
The company's CEO,&nbsp;Chris York, said at the conference that the industry needs to lower the cost of batteries and remove supply chain control from China.
"You don't have to make a profit in China," he said. "Everything is state-owned at the end of the day."
Publicly traded silicon companies include&nbsp;HPQ Silicon Inc.&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/HPQFF#OTC">HPQFF</a>) and&nbsp;Ferroglobe&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GSM#NASDAQ">GSM</a>).
Fluorspar
The Oregon Group, an investment research firm, recently called fluorspar "the EV critical mineral no one has heard of."
The mineral is often used to make refrigerants, steel and aluminum, as well as to process uranium.&nbsp;
There is also more fluorspar contained in a lithium-ion electric battery than there is lithium, and, according to Benchmark, demand for electric vehicles and renewable energy storage promises to increase the use of fluorspar.
"We need investment in fluorspar mining now just like we needed (in) lithium mining 10 years ago," said James Rodriguez de Castro, managing director of privately held Mongolian Minerals, a mining company specializing in fluorspar.
China is by far the world's biggest fluorspar miner, followed by Mexico and Mongolia. But China only has about 10 years' worth of supply based on reserves and production rate, he said.
In Mongolia, the executive has been building up and exploring a portfolio of fluorspar mining and exploration licenses.
Mongolian Minerals needs $200 per metric ton to mine fluorspar and ship it to China, he said. Fluorspar in China ended the first quarter at $462 per metric ton, according to chemical market intelligence firm&nbsp;ChemAnalyst.
Investors looking for publicly-traded fluorspar companies can consider&nbsp;Ares Strategic Mining Inc. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ARSMF#OTC">ARSMF</a>) and&nbsp;Energy Transition Minerals Ltd.&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/GDLNF#OTC">GDLNF</a>), although the latter's project containing fluorspar in Greenland is in arbitration.
Read Next:
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<li> <a href="https://www.benzinga.com/markets/commodities/24/06/39509851/exclusive-chariot-corp-leads-us-lithium-land-acquisition-to-strengthen-domestic-supply-grab-a#google_vignette">EXCLUSIVE: Chariot Corp. Leads US Lithium Land Acquisition To Strengthen Domestic Supply — &#8216;Grab As Much As You Can&#8217;</a></li>
</ul>
Benzinga Mining is the bridge between mining companies and retail investors. Reach out to <a href="mailto:_licensing@benzinga.com" target="_blank" rel="noreferrer noopener">_licensing@benzinga.com</a> to get started!
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<h3 class="wp-block-heading">U.S. Antimony</h3>
U.S. Antimony (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/UAMY#AMEX">UAMY</a>) reported its first-quarter (Q1) results with revenues rising 28% to $2.83 million and a 108% increase in gross profit due to a lower rise in sales costs.&nbsp;
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<li>Operating expenses increased by 183%, partly due to non-cash stock compensation and net income for Q1 was $86k.&nbsp;</li>
<li>The company ceased its Mexico operations, reduced overhead and shifted to a &#8220;Discontinued Operation.&#8221;&nbsp;</li>
<li>Cash position improved to $11.94 million and chairman and co-CEO Gary C. Evans called the quarter a turning point, emphasizing improved U.S. operations and a strong cash position.</li>
</ul>
Also Read:<a href="https://www.benzinga.com/topic/mining"> </a><a href="https://www.benzinga.com/news/large-cap/24/05/38826363/anglo-american-expedites-plan-to-divest-de-beers-other-assets-after-rebuffing-bhp-takeover-bid">Anglo American Expedites Plan To Divest De Beers, Other Assets After Rebuffing BHP Takeover Bid</a>
<h3 class="wp-block-heading">Piedmont Lithium</h3>
Piedmont Lithium (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLL#NASDAQ">PLL</a>) announced new high-grade lithium zones at North American Lithium (NAL) in Quebec, jointly owned by Piedmont (25%) and Sayona Mining Limited (75%).&nbsp;
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<li>The 2023 drill program suggests a potential mineral resource upgrade and mine life extension, discovering thick spodumene-bearing pegmatites beyond current operations.&nbsp;</li>
<li>NAL, which restarted production in March 2023, has consistently set record production volumes.&nbsp;</li>
<li>President and CEO Keith Phillips highlighted the potential for resource upgrades, emphasizing NAL&#8217;s strategic importance and exciting possibilities for extended mine life and increased production.</li>
</ul>
<h3 class="wp-block-heading">Ferroglobe</h3>
Ferroglobe (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GSM#NASDAQ">GSM</a>) reported Q1 financial results with an adjusted EBITDA of $25.8 million. The company achieved a positive net cash position for the first time.&nbsp;
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<li>The company's gross debt hit an all-time low of $81 million. It initiated and announced quarterly cash dividends of 1.3 cents per share.&nbsp;</li>
<li>A $200 million stock buyback program over five years was also approved, pending a shareholder vote in June 2024.&nbsp;</li>
<li>French operations were fully restarted on April 1. The company is applying for a permit to expand U.S. silicon metal production and signed an MOU with Coreshell, followed by a post-quarter investment after positive lab test results.</li>
</ul>
<h3 class="wp-block-heading">Solitario Resources</h3>
Solitario Resources (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/XPL#AMEX">XPL</a>) discovered three new high-grade gold zones – Holland, Top Dollar and Wildcat – at its Golden Crest project.&nbsp;
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<li>Reconnaissance sampling revealed gold values up to 57.9 grams per ton (gpt).&nbsp;</li>
<li>The zones span a four-square-kilometer area between Downpour and Sleeping Beauty targets, with 203 samples collected, including 27 samples exceeding one gpt gold.&nbsp;</li>
<li>President and CEO Chris Herald highlighted these as some of the highest-grade initial samples at Golden Crest and anticipates the upcoming drilling program starting in June.</li>
</ul>
Now Read:<a href="https://www.benzinga.com/"> </a><a href="https://www.benzinga.com/news/24/05/38791907/australia-injects-374m-into-critical-minerals-exploration-weve-got-some-huge-advantages">Australia Injects $374M Into Critical Minerals Exploration: &#8216;We&#8217;ve Got Some Huge Advantages&#8217;</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!

US Antimony Halts Mexico Operations; Piedmont Lithium New Discoveries; Ferroglobe Sees Positive Net Cash And More: Wednesday's Top Mining Stories

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Ferroglobe Board Approves Share Buyback Program Pending Shareholder Vote; Seeks Authorization For $200M Repurchase Over 5 Years

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

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>
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Small Cap

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

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.

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

Media

IDCC

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 (GSM) has released an update. Ferroglobe PLC has successfully concluded its Annual General Meeting, with all proposed resolutions approv...

Ferroglobe Shareholders Approve All Resolutions

Companies in the Materials sector have received a lot of coverage today as analysts weigh in on Ferroglobe (GSM – Research Report), Celanese (CE – ...

Analysts Offer Insights on Materials Companies: Ferroglobe (GSM), Celanese (CE) and Air Products and Chemicals (APD)

Ferroglobe Non-GAAP EPS of $0.13 beats by $0.08, revenue of $451.05M beats by $25.5M

Ferroglobe (GSM) has released an update. Ferroglobe PLC reported a robust financial performance in the second quarter of 2024, announcing a signifi...

Ferroglobe Reports Surge in Q2 2024 Earnings

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Ferroglobe (NASDAQ:<a href="https://investorplace.com/stock-quotes/gsm-stock-quote/">GSM</a>) just reported results for the second quarter of 2024.<ul><li>Ferroglobe reported earnings per share of 13 cents. This was above the analyst estimate for EPS of 5 cents.</li><li>The company reported revenue of $451.05 million.</li><li>This was 3.59% better than the analyst estimate for revenue of $435.40 million.</li></ul><div>InvestorPlace Earnings is a project that leverages data from <a href="https://www.tradesmith.com">TradeSmith</a> to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at <a href="mailto:editor@investorplace.com">editor@investorplace.com</a>.</div><h3>More From InvestorPlace</h3>
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									</ul>The post <a href="https://investorplace.com/earning-results/2024/08/gsm-stock-earnings-ferroglobe-for-q2-of-2024/">GSM Stock Earnings: Ferroglobe Beats EPS, Beats Revenue for Q2 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

GSM Stock Earnings: Ferroglobe Beats EPS, Beats Revenue for Q2 2024

In a report released today, Martin Englert from Seaport Global maintained a Buy rating on Ferroglobe (GSM – Research Report), with a price target o...

Seaport Global Sticks to Its Buy Rating for Ferroglobe (GSM)

Ferroglobe PLC 2024 Q2 - Results - Earnings Call Presentation

Ferroglobe PLC (GSM) Q2 2024 Earnings Call Transcript

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
While the idea of betting on a strong enterprise in the hopes that it will rise even higher is a valid one, arguably most investors prefer the opposite concept: finding <a href="https://investorplace.com/stock-types/undervalued-stocks/">undervalued stocks</a> &ndash; especially those that Wall Street may be ignoring &ndash; that have a chance of shocking everyone.



It&rsquo;s a riskier approach, to be sure. When betting on a strong enterprise, you&rsquo;re typically dealing with a robust business that enjoys a predictable revenue stream. When looking at undervalued stocks, the business itself may be strong. However, shifting economic or market dynamics could mean that the predictability component is now suspect.



Still, investors usually don&rsquo;t see outsized returns from playing it safe. In order to enjoy significant rewards, one usually must take bigger risks. That&rsquo;s not just investing: that&rsquo;s life. If you prefer a more conservative approach to your money, these ideas might not be appropriate. However, if you don&rsquo;t mind being adventurous, then check out these undervalued stocks.



<h2>Taiwan Semiconductor (TSM)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/04/tsm1600-300x169.png" alt="TSMC Taiwan Semiconductor Manufacturing Company (TSM) logo displayed on mobile phone screen"><div>Source: Piotr Swat / Shutterstock.com</div></div>To be sure, chip foundry Taiwan Semiconductor (NYSE:<a href="https://investorplace.com/stock-quotes/tsm-stock-quote/">TSM</a>) is hardly a name that Wall Stret is ignoring. However, the semiconductor giant &ndash; often abbreviated as TSMC &ndash; suffered heavily last week in the tech sector fallout. Circumstances in the market remain ugly, which is why many are jumping ship. However, that could be a mistake.



Right now, <a href="https://finance.yahoo.com/quote/tsm/key-statistics">shares trade at 11.28X trailing-year sales</a>. That&rsquo;s elevated compared to the broader semiconductor industry. Also, in the past year, the metric sat at 9.42X. There could be more downside to come. However, if the multiple reaches firmly into the single digits, it may be time to consider getting back on the bullish side of the transaction.



Keep in mind that analysts project a huge uptick in the top line. By the end of fiscal 2024, <a href="https://finance.yahoo.com/quote/tsm/analysis">sales could rise to $86.22 billion</a>, up 24.2% from last year. Assuming a shares outstanding count of 5.19 billion, TSM stock currently trades around 9X projected sales.



In the back half of last year, the average sales multiple was 7.08X. We&rsquo;re getting close to TSM being one of the clear undervalued stocks to buy.



<h2>ASML (ASML)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/02/asml-1600-300x169.png" alt="Closeup of mobile phone screen with ASML logo on computer keyboard"><div>Source: Ralf Liebhold / Shutterstock</div></div>Again, it&rsquo;s difficult to state that tech specialist ASML (NASDAQ:<a href="https://investorplace.com/stock-quotes/asml-stock-quote/">ASML</a>) &ndash; which focuses on lithography for the printing of intricate designs on silicon wafers &ndash; is overlooked. However, ASML stock suffered badly from last week&rsquo;s tech sector rout. Investors have continued to express concerns about the equity as recession fears spike.



Still, for those interested in overlooked stocks, ASML could present a tempting opportunity. Currently, shares trade hands at 11.58X sales. That&rsquo;s not discounted by any means relative to the underlying industry. However, in the past year, the metric landed at 11.46X, meaning the current premium isn&rsquo;t all that elevated.



What&rsquo;s more, during the second quarter, the market accepted a multiple of 14.41X. It&rsquo;s conceivable that when bullish circumstances return, ASML stock could rise to its former valuation. Also, keep in mind that in a year-and-a-half from now, analysts project sales to hit $40.45 billion. That&rsquo;s up from the $29.4 billion posted in 2023.



Assuming a shares outstanding count of 393.2 million, ASML is currently trading at 10.8X projected sales. Therefore, it&rsquo;s one of the contextually undervalued stocks to keep on your watchlist.



<h2>GigaCloud Technology (GCT)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/software1600d-300x169.jpg" alt="A man examines a digital screen with different icons for software."><div>Source: Shutterstock</div></div>A higher risk but higher-reward idea among undervalued stocks, GigaCloud Technology (NASDAQ:<a href="https://investorplace.com/stock-quotes/gct-stock-quote/">GCT</a>) falls under the infrastructure software industry. It provides end-to-end business-to-business e-commerce solutions for large parcel merchandise in the U.S. and internationally. It got beaten down heavily in the tech sector rout and continues to attract pessimism. For contrarians, though, GCT stock could be intriguing.



Presently, shares <a href="https://finance.yahoo.com/quote/gct/key-statistics">trade hands at 1.27X sales</a>. At first glance, that seems like a hot premium due to the prior year&rsquo;s average metric, which lands at 1.01X. However, keep in mind that in Q4 of last year, the metric stood at 1.28X. And in Q1 of this year, the multiple jumped to 1.55X. Therefore, with the right catalysts, GCT stock could rise to its former valuation.



What&rsquo;s most intriguing about GigaCloud is the analysts&rsquo; forward projection. By the end of fiscal 2024, <a href="https://finance.yahoo.com/quote/gct/analysis">sales could hit $1.08 billion</a>. That&rsquo;s up 52.8% from the prior year. Assuming a shares outstanding count of 32.91 million, GCT is trading at 0.78X forward revenue.



That&rsquo;s getting very close to a buy-in argument considering that in Q3 of last year, the sales multiple sat at 0.68X.



<h2>TotalEnergies (TTE)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/03/tte_totalenergies_1600-300x169.png" alt="Logo on the sign of a TotalEnergies (TTE) gas station, new name of the French oil company Total"><div>Source: HJBC / Shutterstock.com</div></div>One of the biggest integrated energy companies in the world, TotalEnergies (NYSE:<a href="https://investorplace.com/stock-quotes/tte-stock-quote/">TTE</a>) might not get the same attention as some other stalwarts like Chevron (NYSE:<a href="https://investorplace.com/stock-quotes/cvx-stock-quote/">CVX</a>) or Exxon Mobil (NYSE:<a href="https://investorplace.com/stock-quotes/xom-stock-quote/">XOM</a>). However, TTE definitely deserves attention as one of the undervalued stocks.



At the moment, shares trade hands at 0.75X trailing-year sales. This compares favorably to the integrated oil and gas industry, which <a href="https://fullratio.com/ps-ratio-by-industry">runs an average multiple of 1.13X</a>. Further, in the prior year, TTE&rsquo;s price-to-sales ratio was 0.74X. Therefore, the market has been consistent with the pricing. In Q1 of this year, the metric stood at 0.77X.



However, analysts believe that by the end of fiscal 2024, sales could rise modestly to $242.9 billion, up 2.4%. Still, given the geopolitical backdrop, it&rsquo;s not inconceivable that <a href="https://finance.yahoo.com/quote/tte/analysis">sales may rise to $291.4 billion</a>, the high-side estimate. Assuming a shares outstanding count of 2.3 billion, the sales multiple would drop to 52.5X.



Notably, this stat would put it even lower than Q2 2023&rsquo;s average multiple of 0.57X. TotalEnergies could be one of the undervalued stocks to buy.



<h2>Baytex Energy (BTE)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/10/oil-price-predictions1600-300x169.png" alt="Rise in gasoline prices concept with double exposure of digital screen with financial chart graphs and oil pumps on a field. Oil prices and oil price predictions"><div>Source: Golden Dayz / Shutterstock.com</div></div>A Calgary, Canada-based energy firm, Baytex Energy (NYSE:<a href="https://investorplace.com/stock-quotes/bte-stock-quote/">BTE</a>) is easily one of the overlooked undervalued stocks to consider. For one thing, the company specializes in the exploration and production component of the hydrocarbon value chain. Also known as upstream, this segment could see increased demand as geopolitical flashpoints threaten global energy supply chains.



Second, BTE stock trades hands at approximately 1.31X last year&rsquo;s sales. That&rsquo;s low compared to upstream oil and gas players, which run an average multiple of 1.97X. In Q3 of last year, the metric stood at 1.33X.



Here&rsquo;s the kicker: analysts believe that by year&rsquo;s end, revenue could soar to $2.82 billion. That&rsquo;s up 41.5% from last year. Further, the high-side estimate calls for $3.12 billion. Assuming a shares outstanding count of 804.98 million, the projected revenue multiple comes in at 0.83X.



Another factor to consider is the passive income. At the moment, Baytex offers a forward dividend yield of around 2%. While that&rsquo;s not much compared to the broader energy sector, the discount combined with the passive income makes Baytex an attractive idea.



<h2>Ferroglobe (GSM)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/06/stocks-to-buy-stocks-to-sell-dice-1600-300x169.jpg" alt='Dice on top of stock chart reading "buy" and "sell"'><div>Source: shutterstock.com/SergeyP</div></div>Headquartered in London, Ferroglobe (NASDAQ:<a href="https://investorplace.com/stock-quotes/gsm-stock-quote/">GSM</a>) is an interesting idea for adventurous investors seeking undervalued stocks. <a href="https://finance.yahoo.com/quote/GSM/profile/">Per its public profile</a>, Ferroglobe produces and sells silicon metal, along with silicon and manganese-based ferroalloys in the U.S., Europe and other international markets. These specialized chemicals are used in multiple industries, including healthcare and electronics.



Therefore, if you believe in the comeback potential of the innovation space, GSM stock should entice you. Right now, shares trade hands at 0.56X sales. That&rsquo;s not bad considering that in the past year, the sales multiple averaged 0.55X. Also, in Q4 of last year, GSM traded hands at an average multiple of 0.72X.



Admittedly, analysts believe that in fiscal 2024, Ferroglobe will only achieve modest expansion &ndash; up 0.7% from last year. However, circumstances could get more exciting in the following year, when revenue may <a href="https://finance.yahoo.com/quote/gsm/analysis">potentially rise to $1.8 billion</a>. Assuming a shares outstanding count of 187.88 million, GSM would be trading around 0.51X projected revenue.



Add in a forward yield of 1.07% and you have a quiet but compelling case for undervalued stocks to buy.



<h2>Alibaba (BABA)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/alibaba_stock-300x169.jpg" alt="The Alibaba (BABA) logo featured outside of an office building with bushes in the background"><div>Source: zhu difeng / Shutterstock.com</div></div>One of the most intriguing but perhaps contentious ideas for undervalued stocks is Alibaba (NYSE:<a href="https://investorplace.com/stock-quotes/baba-stock-quote/">BABA</a>). China&rsquo;s flagship enterprise, Alibaba used to receive all kinds of positive attention. However, since the struggles of the Chinese economy, BABA stock has been trading in a flat consolidation phase. That has made the equity overlooked. Still, it could be a mistake to ignore it indefinitely.



Looking at data from McKinsey &amp; Company, several aspects of the <a href="https://www.mckinsey.com/cn/our-insights/our-insights/consumers-are-spending-again">Chinese consumer economy</a> are positive. With household savings sky high in China compared to other regions, it&rsquo;s possible that Alibaba could benefit. Right now, shares trade at 1.51X sales. That&rsquo;s super high compared to the discretionary retail space overall. However, in the past year, the metric stood at 1.68X.



Also note that analysts believe fiscal 2025 (calendar 2024) <a href="https://finance.yahoo.com/quote/baba/analysis">sales could hit $142.4 billion</a>. That would be up 9.7% from last year. Assuming a shares outstanding count of 2.38 billion, BABA stock is actually trading around 1.29X projected revenue.



That&rsquo;s lower than the average seen at any point in the past five quarters. Therefore, BABA could be a buying idea right now.



On the date of publication, Josh Enomoto did not have (either directly or indirectly) any positions in the securities mentioned in this article.&nbsp;The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
<div>A former senior business analyst for Sony Electronics, Josh Enomoto has helped broker major contracts with Fortune Global 500 companies. Over the past several years, he has delivered unique, critical insights for the investment markets, as well as various other industries including legal, construction management, and healthcare. Tweet him at @EnomotoMedia.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/08/7-undervalued-stocks-that-wall-street-is-mistakenly-ignoring/">7 Undervalued Stocks That Wall Street Is Mistakenly Ignoring</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

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Ferroglobe (GSM) Forecast

Ferroglobe (NASDAQ:GSM) Stock, Quote.Headers.trade-ideas