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Broker Panmure Gordon has retained its “buy” recommendation with a price target of 700p. it follows the prospect of a share placing to raise the free float of the company’s to 55 per cent. Panmure said the company gave “exposure to a national housing recovery”.
Investment bank Nomura has reiterated its "buy” rating with a target price of 3,700p after analysts at the bank said the prospects looked good for the miner. It said the stock was one of the cheapest in its peer group, trading at just nine times its 2014 earnings.
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Analysts at Numis have cut the rating on the company from “hold” to “reduce” after a “disappointing” investor day laying new products that will not drive performance until 2015. It retains its target price of 270p.