Acacia Mining PLC (ACA) Downgraded by Royal Bank of Canada to “Underperform”
Royal Bank of Canada downgraded shares of Acacia Mining PLC (LON:ACA) to an underperform rating in a research report report published on Thursday. Royal Bank of Canada currently has GBX 315 ($4.10) price target on the stock, down from their previous price target of GBX 450 ($5.85).
A number of other research firms also recently commented on ACA. JPMorgan Chase & Co. reaffirmed an overweight rating and set a GBX 610 ($7.94) price objective on shares of Acacia Mining PLC in a research note on Tuesday, February 28th. Credit Suisse Group AG upped their price objective on shares of Acacia Mining PLC from GBX 540 ($7.02) to GBX 600 ($7.81) and gave the company an outperform rating in a research note on Wednesday, February 15th. Numis Securities Ltd raised shares of Acacia Mining PLC to a buy rating and upped their price objective for the company from GBX 500 ($6.50) to GBX 600 ($7.81) in a research note on Wednesday, February 15th. Jefferies Group LLC upped their price objective on shares of Acacia Mining PLC from GBX 550 ($7.15) to GBX 575 ($7.48) and gave the company a buy rating in a research note on Wednesday, February 15th. Finally, Deutsche Bank AG dropped their price objective on shares of Acacia Mining PLC from GBX 590 ($7.68) to GBX 570 ($7.42) and set a buy rating for the company in a research note on Friday, March 17th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of GBX 425.91 ($5.54).
Acacia Mining PLC (LON:ACA) traded up 7.48% on Thursday, hitting GBX 285.80. 4,571,470 shares of the stock traded hands. The stock’s market cap is GBX 1.18 billion. The firm’s 50-day moving average price is GBX 418.78 and its 200-day moving average price is GBX 432.13. Acacia Mining PLC has a 12-month low of GBX 250.00 and a 12-month 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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