Lonmin (LMI) Trading 14% Higher After Analyst Upgrade

Shares of Lonmin Plc (LON:LMI) traded up 14% during mid-day trading on Monday after Barclays raised their price target on the stock from GBX 40 to GBX 45. Barclays currently has an underweight rating on the stock. Lonmin traded as high as GBX 63.50 ($0.83) and last traded at GBX 61.55 ($0.80). 800,348 shares were traded during trading, a decline of 15% from the average session volume of 938,258 shares. The stock had previously closed at GBX 54 ($0.71).

Several other analysts also recently issued reports on the company. Peel Hunt reissued a “hold” rating on shares of Lonmin in a research note on Tuesday, September 18th. Liberum Capital raised Lonmin to a “hold” rating and set a GBX 40 ($0.52) target price on the stock in a research note on Monday, September 10th. Two equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company. Lonmin has a consensus rating of “Hold” and a consensus price target of GBX 47.75 ($0.62).

Lonmin Company Profile (LON:LMI)

Lonmin Plc explores, mines, refines, and markets platinum group metals in South Africa, the Americas, Asia, and Europe. The company explores for platinum, palladium, rhodium, iridium, ruthenium, and gold, as well as chrome, nickel, copper, and cobalt deposits. Its flagship property is the Marikana mine located on the Western Limb of the Bushveld igneous complex in South Africa.

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