Bacanora Minerals (BCN) Price Target Lowered to GBX 120 at Canaccord Genuity

Bacanora Minerals (LON:BCN) had its price target reduced by equities researchers at Canaccord Genuity from GBX 130 ($1.75) to GBX 120 ($1.62) in a report issued on Wednesday. The firm currently has a “speculative buy” rating on the stock. Canaccord Genuity’s target price would suggest a potential upside of 26.32% from the stock’s previous close.

A number of other research analysts have also commented on BCN. Numis Securities upped their target price on Bacanora Minerals from GBX 130 ($1.75) to GBX 140 ($1.88) and gave the company a “buy” rating in a research note on Thursday, August 24th. Shore Capital restated a “not rated” rating on shares of Bacanora Minerals in a research note on Tuesday, November 28th. Canaccord Genuity Group restated a “speculative buy” rating and issued a GBX 120 ($1.62) target price on shares of Bacanora Minerals in a research note on Thursday, November 2nd. Finally, Shore Capital Group restated a “not rated” rating on shares of Bacanora Minerals in a research note on Thursday, November 2nd. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of GBX 127.50 ($1.72).

Shares of Bacanora Minerals (LON:BCN) traded up GBX 2.50 ($0.03) during mid-day trading on Wednesday, hitting GBX 95 ($1.28). The stock had a trading volume of 305,050 shares, compared to its average volume of 305,562. Bacanora Minerals has a one year low of GBX 61 ($0.82) and a one year high of GBX 108.75 ($1.46).

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Bacanora Minerals Company Profile

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 company’s 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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