Citigroup Inc. Reiterates Neutral Rating for London Mining Plc (LOND)
London Mining Plc (LON:LOND)‘s stock had its “neutral” rating reaffirmed by research analysts at Citigroup Inc. in a report released on Monday. They currently have a GBX 110 ($1.89) target price on the stock. Citigroup Inc.’s price objective suggests a potential upside of 137.84% from the stock’s previous close.
Shares of London Mining Plc (LON:LOND) traded up 3.27% during mid-day trading on Monday, hitting GBX 47.7608. 2,436,228 shares of the company’s stock traded hands. London Mining Plc has a one year low of GBX 26.75 and a one year high of GBX 149.75. The stock has a 50-day moving average of GBX 36.71 and a 200-day moving average of GBX 70.29.
A number of other firms have also recently commented on LOND. Analysts at Credit Suisse reiterated an “outperform” rating on shares of London Mining Plc in a research note on Monday, June 23rd. They now have a GBX 140 ($2.40) price target on the stock. Separately, analysts at Jefferies Group cut their price target on shares of London Mining Plc from GBX 160 ($2.74) to GBX 100 ($1.72) in a research note on Friday, June 20th. They now have a “buy” rating on the stock. Finally, analysts at Investec cut their price target on shares of London Mining Plc from GBX 113 ($1.94) to GBX 57 ($0.98) in a research note on Friday, June 20th. They now have a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of GBX 127.75 ($2.19).
London Mining Plc is developing mines to supply the global steel industry. The Company has iron ore exploration and development projects located in Sierra Leone, Saudi Arabia, Greenland, China and Chile, and a coking coal project in Colombia.
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