Lonmin Price Target Cut to GBX 278 (LMI)
Analysts at Investec dropped their price target on shares of Lonmin (LON:LMI) from GBX 287 ($4.73) to GBX 278 ($4.58) in a research report issued to clients and investors on Thursday, AR Network reports. The firm currently has a “sell” rating on the stock. Investec’s target price would indicate a potential downside of 9.39% from the stock’s previous close.
Shares of Lonmin (LON:LMI) traded up 1.62% during mid-day trading on Thursday, hitting GBX 306.80. 1,628,136 shares of the company’s stock traded hands. Lonmin has a 52-week low of GBX 249.80 and a 52-week high of GBX 386.00. The stock’s 50-day moving average is GBX 301.6 and its 200-day moving average is GBX 317.2. The company’s market cap is £1.747 billion.
Several other analysts have also recently commented on the stock. Analysts at Deutsche Bank upgraded shares of Lonmin to a “hold” rating in a research note to investors on Wednesday. They now have a GBX 380 ($6.26) price target on the stock. Separately, analysts at Goldman Sachs Group Inc. reiterated a “sell” rating on shares of Lonmin in a research note to investors on Tuesday. They now have a GBX 290 ($4.78) price target on the stock. Finally, analysts at Westhouse Securities reiterated a “neutral” rating on shares of Lonmin in a research note to investors on Monday. They now have a GBX 345 ($5.69) price target on the stock. Nine analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of GBX 330.53 ($5.45).
Lonmin Plc is a United Kingdom-based company. The principal activities of the Company during the fiscal year ended September 30, 2011 (LON:LMI), were mining, refining and marketing of Platinum Group Metals (PGM).
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