Numis Securities Ltd initiated coverage on shares of Condor Gold PLC (LON:CNR) in a research note issued on Wednesday. The firm set a “buy” rating and a GBX 110 ($1.87) price target on the stock. Numis Securities Ltd’s price target would indicate a potential upside of 27.91% from the company’s current price. A number of other analysts have also recently weighed in on CNR. Analysts at Beaufort Securities initiated coverage on shares of Condor Gold PLC in a research note on Friday, June 13th. They set a “speculative buy” rating on the stock. Analysts at Edison Investment Research reiterated a “positive” rating on shares of Condor Gold PLC in a research note on Friday, April 4th. Shares of Condor Gold PLC (LON:CNR) opened at 84.25 on Wednesday. Condor Gold PLC has a 52 week low of GBX 65.00 and a 52 week high of GBX 94.955. The stock has a 50-day moving average of GBX 77.81 and a 200-day moving average of GBX 76.87.
And its a very good indication of why the SP in companies like this can rerate as dramatically as a lot of us are suggesting.. i.e from 85p to 300p and beyond in fairly short timescales, despite those who will no doubt be dismissive / incredulous of such a possibility..
By far the vast majority of the 38m shares here are held by institutional investors, funds, hnwi's and the board themselves. Most of those have been held for a long period of time i.e years, and they are simply not interested in a quick 10% profit on their investment. Many of them have bought shares in placings at 1.60 and £2 per share and have much higher averages than 85p! They are looking for a minimum 250-300% return here I would say, so as the SP rerates only a few weak holders would be shaken out until we get to the bigger figures.. Like many here, I wont be selling any shares at all until at least £3.50 - £4, although I expect a bit more if a sale does come along.
With such a shortage of available shares in the market and a high demand for them as soon as bidders start emerging after PFS, a significant and sustained SP rerate almost becomes inevitable..
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