Lonmin (LMI) Price Target Raised to GBX 55 at Barclays

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Lonmin (LON:LMI) had its price objective hoisted by Barclays from GBX 45 ($0.59) to GBX 55 ($0.72) in a research note released on Thursday morning. The firm currently has an underweight rating on the mining company’s stock.

Separately, Peel Hunt restated a hold rating on shares of Lonmin in a report on Tuesday, September 18th. Two analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The stock has an average rating of Hold and a consensus price target of GBX 50.25 ($0.66).

Shares of LON LMI traded up GBX 1.98 ($0.03) during mid-day trading on Thursday, reaching GBX 50 ($0.65). 1,154,678 shares of the company’s stock were exchanged, compared to its average volume of 938,258. Lonmin has a 52-week low of GBX 55.75 ($0.73) and a 52-week high of GBX 120.50 ($1.57).

About Lonmin

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.

See Also: What is a Market Correction?

Analyst Recommendations for Lonmin (LON:LMI)

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