Merrill Lynch Upgrades African Minerals Group to “Buy” (AMI)
African Minerals Group (LON:AMI) was upgraded by equities research analysts at Merrill Lynch from a “neutral” rating to a “buy” rating in a research note issued to investors on Friday, StockRatingsNetwork reports. The firm currently has a GBX 310 ($4.97) price objective on the stock, up from their previous price objective of GBX 205 ($3.28). Merrill Lynch’s price objective points to a potential upside of 36.21% from the stock’s previous close.
Shares of African Minerals Group (LON:AMI) traded up 1.15% on Friday, hitting GBX 227.5967. The stock had a trading volume of 4,945,057 shares. African Minerals Group has a 52 week low of GBX 149.50 and a 52 week high of GBX 362.75. The stock’s 50-day moving average is GBX 196.4 and its 200-day moving average is GBX 220.9.
Several other analysts have also recently commented on the stock. Analysts at Bank of America Corp. reiterated a “buy” rating on shares of African Minerals Group (LON:AMI) in a research note to investors on Friday. They now have a GBX 310 ($4.97) price target on the stock. Separately, analysts at Credit Suisse reiterated an “outperform” rating on shares of African Minerals Group (LON:AMI) in a research note to investors on Friday. They now have a GBX 350 ($5.61) price target on the stock. Finally, analysts at Canaccord Genuity reiterated a “buy” rating on shares of African Minerals Group (LON:AMI) in a research note to investors on Thursday. They now have a GBX 330 ($5.29) price target on the stock. One analyst has rated the stock with a sell rating and ten have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of GBX 304.45 ($4.88).
African Minerals Limited (LON:AMI) is a minerals exploration, development and production company with interests in Sierra Leone.
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