Base Resources (LON:BSE) Given Speculative Buy Rating at Canaccord Genuity Group

Base Resources (LON:BSE)‘s stock had its “speculative buy” rating reissued by Canaccord Genuity Group in a research report issued on Tuesday, Digital Look reports. They presently have a GBX 35 ($0.44) price target on the stock. Canaccord Genuity Group’s target price would suggest a potential upside of 180.00% from the company’s previous close.

Separately, Berenberg Bank decreased their price objective on Base Resources from GBX 31 ($0.39) to GBX 30 ($0.38) and set a “buy” rating on the stock in a research note on Monday, February 26th.

Base Resources Stock Performance

Base Resources stock traded down GBX 0.13 ($0.00) during mid-day trading on Tuesday, reaching GBX 12.50 ($0.16). The company’s stock had a trading volume of 551,816 shares, compared to its average volume of 341,418. The company has a market capitalization of £146.25 million, a P/E ratio of -312.50 and a beta of 0.85. The firm’s fifty day moving average price is GBX 6.70 and its two-hundred day moving average price is GBX 7.15. Base Resources has a 12-month low of GBX 5 ($0.06) and a 12-month high of GBX 13.50 ($0.17). The company has a debt-to-equity ratio of 0.26, a quick ratio of 3.81 and a current ratio of 4.19.

Base Resources Company Profile

Base Resources Limited operates as mineral sand developer and producer in Africa. It operates through Kwale Operation, Toliara Project, and Other segments. The company produces mineral sands, such as rutile, ilmenite, and zircon. It primarily owns a 100% interest in the Kwale Mineral Sands project located in Kenya; and develops the Toliara project located in Madagascar.