B. Riley lowered the firm’s price target on Ferroglobe (GSM) to $8 from $9 and keeps a Buy rating on the shares following the Q1 report. The EBITDA miss was primarily driven by lower sales and realizations in the silicon metal and manganese-based alloys segments, the analyst tells investors in a research note. The firm says that despite the soft Q1 results, Ferroglobe maintained its full-year adjusted EBITDA guidance.
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