Lonmin warns on sales as takeover drags on
10th May 2019 08:45
(Sharecast News) - Lonmin warned annual sales would be at the lower end of expectations on Friday after production fell and the platinum miner was disrupted by delays to its planned takeover.
Read moreLonmin paints bleak picture as it calls on shareholders to back takeover
25th Mar 2019 13:23
(Sharecast News) - Lonmin issued a stark warning on Monday, telling investors it does not have the funds needed to sustain the business long-term, and urged them to back a takeover offer from rival miner Sibanye-Stillwater.
Read moreLonmin commits to Sibanye deal following $200m purchase pact
22nd Oct 2018 10:48
(Sharecast News) - Platinum producer Lonmin sealed a $200m metal purchase agreement with Chinese outfit Jiangxi Copper to provide the miner with better liquidity while it waits for South African rival Sibanye-Stillwater's takeover to be finalised.
Read moreLonmin risks recede along with rand, Liberum reckons
10th Sep 2018 12:58
(Sharecast News) - Lonmin is looking a less risky investment than it seemed a few months ago, said broker Liberum on Monday, upgrading the miner to 'hold'.
Read moreFriday broker round-up
27th Jan 2017 14:09
(ShareCast News) - Diageo: Berenberg reiterates buy with a target price of 2430p. Royal Dutch Shell A: HSBC reiterates buy, 2600p target. Vodafone: Deutsche Bank reiterates buy with a 285p target. Anglo American: UBS reiterates neutral with a 1250p target. Easyjet: Deutsche Bank reiterates hold w
Read moreMonday broker round-up
9th Jan 2017 17:00
(ShareCast News) - Reckitt Benckiser: Berenberg reiterates hold with a target price of 7300p. EnQuest: Jefferies upgrades to buy with a 64p target. Booker: HSBC stays at buy with a 220p target. Anglo American: Barclays reiterates overweight with a 350p target. ICAP: HSBC upgrades to buy with a 52
Read moreLonmin full-year loss narrows
14th Nov 2016 10:41
(ShareCast News) - Lonmin said losses in the year to the end of September narrowed thanks in part to the restructuring of the business, a continued focus on cost management and the weakening of the rand against the US dollar. In the year to the end of September, the pre-tax loss came in at $355m co
Read moreLonmin agrees to buy Amplats stake in Pandora
11th Nov 2016 11:03
(ShareCast News) - Lonmin has agreed to buy Anglo American Platinum's 42.5% stake in the Pandora joint venture mine for 400m rand. The deal will up Lonmin's stake in the JV to 92.5%. As it stands, the Pandora JV is held 50% by Lonmin's subsidiary, Eastern Patinum, 42.5% by AAP through Rustenburg Pla
Read moreLonmin closes project financing for bulk tailings project
18th Aug 2016 16:10
(ShareCast News) - Lonmin managed to clinch project financing for its Bulk Tailings Treatment Project, which analysts said would allow the miner to add low-cost production as it progresses on restructuring the business. An unnamed party agreed to provide the platinum producer with $50m through a pro
Read moreTuesday broker round-up
2nd Aug 2016 10:58
(ShareCast News) - HSBC: Berenberg reiterates buy with a target price of 600p. Intertek: Numis maintains reduce with a 3100p target. Barclays: Citigroup reiterates buy with a 135p target. IAG: HSBC stays at reduce with a 325p target. Anglo American: UBS keeps at sell with a target price of 740p.
Read moreLonmin shares slide on production update
1st Aug 2016 13:48
(ShareCast News) - Platinum producer Lonmin announced its production results for the quarter ended 30 June on Monday, and provided a business update. "[This was] another good quarter in a challenging operating environment," said chief executive Ben Magara. "Again I am pleased that we continue to fo
Read moreSunday newspaper roundup: Lloyds, UK trade deals, BAE, SABMiller, Lonmin, Uber
17th Jul 2016 12:43
(ShareCast News) - The new government could accelerate the re-privatisation of Lloyds Banking Group and scrap George Osborne's plan for a sale to retail investors, senior financiers believe. While Mr Osborne wanted to make a profit on every share in the bank, only selling when the price stood at abo
Read moreWednesday broker round-up
15th Jun 2016 15:32
(ShareCast News) - Arrow Global Group: Goldman Sachs reiterates buy with a target price of 340p. Crest Nicholson: JP Morgan keeps at overweight with a 700p target. Shire: Exane BNP Paribas stays at outperform with a target price of 5700p and Jefferies keeps at buy with a target price of 5500p. Woo
Read moreBroker tips: Wood Group, Jimmy Choo, Lonmin
15th Jun 2016 11:02
(ShareCast News) - Shares in oil and gas services company Wood Group rose on Wednesday as Jefferies initiated its rating on the stock at 'buy'. "The company, in our view, has executed a far more coherent growth/mergers and acquisitions strategy compared to UK Service peers, Amec Foster Wheeler and P
Read moreUBS cuts Lonmin to 'sell' on stretched valuation
15th Jun 2016 07:44
(ShareCast News) - UBS downgraded Lonmin to 'sell' from 'neutral' but lifted the price target to 140p from 110p, saying the valuation looks stretched following a strong share price performance. The bank said Lonmin achieved good cost performance in the second quarter of 2016, with unit costs down 3%
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