Acacia Mining (LON:ACA) had its price objective reduced by research analysts at JPMorgan Chase & Co. from GBX 170 ($2.22) to GBX 110 ($1.44) in a research report issued to clients and investors on Thursday. The firm currently has an “underweight” rating on the stock. JPMorgan Chase & Co.’s price target suggests a potential downside of 25.68% from the stock’s current price.
ACA has been the topic of a number of other reports. Barclays restated an “overweight” rating on shares of Acacia Mining in a research report on Friday, October 12th. Royal Bank of Canada cut their target price on shares of Acacia Mining from GBX 165 ($2.16) to GBX 130 ($1.70) and set a “sector perform” rating on the stock in a research report on Tuesday, September 18th. Numis Securities restated a “buy” rating and set a GBX 250 ($3.27) target price on shares of Acacia Mining in a research report on Monday, July 23rd. Jefferies Financial Group reiterated a “hold” rating and issued a GBX 145 ($1.89) price target (down from GBX 195 ($2.55)) on shares of Acacia Mining in a research report on Wednesday. Finally, Peel Hunt reiterated an “under review” rating on shares of Acacia Mining in a research report on Friday, July 6th. Three analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of GBX 164.88 ($2.15).
Acacia Mining stock opened at GBX 148 ($1.93) on Thursday. Acacia Mining has a 1 year low of GBX 130 ($1.70) and a 1 year high of GBX 508.50 ($6.64).
Acacia Mining plc, together with its subsidiaries, mines, processes, and sells gold in Africa. The company has three gold mines in north-west Tanzania, including Bulyanhulu, Buzwagi, and North Mara; and a portfolio of exploration projects at various stages of development in Tanzania, Kenya, Burkina Faso, and Mali.
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