Ferroglobe Reports Results for Second Quarter 2016
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Oppenheimer Cuts Price Target on Ferroglobe plc (GSM) to $12; Reiterates Outperform
August 26, 2016 9:50 AM EDTOppenheimer maintained an Outperform rating on Ferroglobe plc (NASDAQ: GSM), and cut the price target to $12.00 (from $14.00), following the company's 2Q earnings report. GSM reported revenues of $398M, down 6% sequentially from $423.5M. SiM prices for the quarter averaged $1.01/lbs, down from $1.08 realized in 1Q16.... More
