Peel Hunt Lowers Acacia Mining PLC (ACA) to Reduce
Acacia Mining PLC (LON:ACA) was downgraded by Peel Hunt to a “reduce” rating in a report issued on Thursday. They currently have a GBX 237 ($3.08) target price on the stock, down from their previous target price of GBX 461 ($6.00). Peel Hunt’s target price indicates a potential downside of 17.07% from the stock’s current price.
Other research analysts have also issued reports about the stock. Citigroup Inc reissued a “sell” rating and set a GBX 380 ($4.94) target price on shares of Acacia Mining PLC in a research note on Monday, April 3rd. Credit Suisse Group AG reissued an “outperform” rating and set a GBX 600 ($7.81) target price on shares of Acacia Mining PLC in a research note on Monday, March 6th. Barclays PLC increased their target price on shares of Acacia Mining PLC from GBX 390 ($5.07) to GBX 450 ($5.85) and gave the stock an “equal weight” rating in a research note on Friday, April 21st. JPMorgan Chase & Co. reissued a “neutral” rating and set a GBX 500 ($6.50) target price on shares of Acacia Mining PLC in a research note on Friday, April 21st. Finally, Jefferies Group LLC dropped their price objective on shares of Acacia Mining PLC from GBX 475 ($6.18) to GBX 450 ($5.85) and set a “hold” rating on the stock in a research note on Friday, April 21st. Three analysts have rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of GBX 425.91 ($5.54).
Acacia Mining PLC (LON:ACA) traded up 7.48% on Thursday, reaching GBX 285.80. 4,802,274 shares of the company traded hands. The stock has a 50-day moving average price of GBX 414.03 and a 200-day moving average price of GBX 431.11. The firm’s market cap is GBX 1.18 billion. Acacia Mining PLC has a 52-week low of GBX 250.00 and a 52-week high of GBX 615.00.
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Acacia Mining PLC Company Profile
Acacia Mining plc is primarily engaged in the business of mining, processing and sale of gold. The Company has three operating mines located in Tanzania. The Company’s segments are North Mara gold mine, Bulyanhulu gold mine and Buzwagi gold mine. The North Mara gold deposits are situated in the Mara Musoma greenstone belt.
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