Bacanora Minerals Ltd Com (LON:BCN) was downgraded by stock analysts at Numis Securities from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday, December 18th. They currently have a GBX 110 ($1.49) price objective on the stock, down from their prior price objective of GBX 140 ($1.90). Numis Securities’ price target would indicate a potential downside of 13.39% from the company’s previous close.
A number of other equities analysts have also issued reports on the company. Canaccord Genuity reaffirmed a “speculative buy” rating and issued a GBX 120 ($1.63) target price on shares of Bacanora Minerals Ltd Com in a research report on Friday, October 20th. Shore Capital reaffirmed a “not rated” rating on shares of Bacanora Minerals Ltd Com in a research report on Tuesday, November 28th. Canaccord Genuity Group reaffirmed a “speculative buy” rating and issued a GBX 120 ($1.63) target price on shares of Bacanora Minerals Ltd Com in a research report on Thursday, November 2nd. Finally, Shore Capital Group reaffirmed a “not rated” rating on shares of Bacanora Minerals Ltd Com in a research report on Thursday, November 2nd. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of GBX 131.25 ($1.78).
Bacanora Minerals Ltd Com (BCN) traded down GBX 10 ($0.14) during trading on Monday, reaching GBX 127 ($1.72). The company had a trading volume of 469,482 shares, compared to its average volume of 314,740. Bacanora Minerals Ltd Com has a 12-month low of GBX 72 ($0.98) and a 12-month high of GBX 157 ($2.13).
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About Bacanora Minerals Ltd Com
Bacanora Minerals Ltd., an exploration stage mining company, engages in the identification, acquisition, exploration, and development of mineral properties in Mexico. It primarily focuses on lithium and borates. The companys primary assets include the Sonora Lithium project, which consists of 10 mining concession area covering approximately 100 thousand hectares in the northeast of Sonora State; and the Magdalena Borate project that covers 16,503 hectares in Sonora state.
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