ACG Acquisition (LON:ACG) Stock Price Up 2.3% - Here's What Happened

Key Points

• ACG Acquisition Company's shares rose by 2.3% during trading, closing at GBX 675 ($9.14) with a notable drop in trading volume.
• Two research firms reaffirmed a "buy" rating" for ACG Acquisition, with target prices set at GBX 760 and GBX 830, while the average target price stands at GBX 795.
• ACG Acquisition recently completed the acquisition of the Gediktepe Mine, expected to begin production of copper and zinc by 2026, targeting an annual output of 20-25 kt.

ACG Acquisition Company Limited (LON:ACG - Get Free Report) shares traded up 2.3% during trading on Monday . The stock traded as high as GBX 675 ($9.12) and last traded at GBX 675 ($9.12). 3,430 shares were traded during mid-day trading, a decline of 28% from the average session volume of 4,796 shares. The stock had previously closed at GBX 660 ($8.91).

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Canaccord Genuity Group reissued a "buy" rating and issued a GBX 830 price target on shares of ACG Acquisition in a report on Tuesday, July 15th. Berenberg Bank reaffirmed a "buy" rating and set a GBX 760 price objective on shares of ACG Acquisition in a report on Tuesday, July 15th. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of GBX 795.

ACG Acquisition Price Performance

The firm has a 50-day simple moving average of GBX 636.41 and a two-hundred day simple moving average of GBX 407.73. The company has a market cap of £152.70 million and a PE ratio of -446.20.

About ACG Acquisition

ACG Metals is a company with a vision to consolidate the copper industry through a series of roll-up acquisitions, with best-in-class ESG and carbon footprint characteristics. In September 2024, ACG successfully completed the acquisition of the Gediktepe Mine which is expected to transition to primary copper and zinc production from 2026 and will target annual steady-state copper equivalent production of 20-25 kt.