Berenberg Bank Begins Coverage on Polymetal International PLC (POLY)

Berenberg Bank Begins Coverage on Polymetal International PLC (POLY)Stock analysts at Berenberg Bank assumed coverage on shares of Polymetal International PLC (LON:POLY) in a research report issued to clients and investors on Wednesday. The firm set a “buy” rating on the mining company’s stock.

Shares of Polymetal International PLC (LON:POLY) traded up 1.13% during midday trading on Wednesday, hitting GBX 1071.00. 793,913 shares of the stock were exchanged. The firm’s market cap is GBX 4.56 billion. The stock’s 50 day moving average is GBX 1,113.78 and its 200 day moving average is GBX 873.36. Polymetal International PLC has a 12-month low of GBX 457.10 and a 12-month high of GBX 1,209.00.

Several other brokerages have also commented on POLY. Jefferies Group restated a “hold” rating and set a GBX 350 ($4.66) price target on shares of Polymetal International PLC in a research note on Thursday, June 2nd. Royal Bank Of Canada increased their price target on shares of Polymetal International PLC from GBX 750 ($9.99) to GBX 840 ($11.19) and gave the stock an “outperform” rating in a research note on Friday, May 20th. Deutsche Bank AG increased their price target on shares of Polymetal International PLC from GBX 550 ($7.33) to GBX 610 ($8.12) and gave the stock a “hold” rating in a research note on Thursday, May 19th. Credit Suisse Group AG increased their price target on shares of Polymetal International PLC from GBX 610 ($8.12) to GBX 840 ($11.19) and gave the stock a “neutral” rating in a research note on Friday, July 1st. Finally, Goldman Sachs Group restated a “buy” rating and set a GBX 870 ($11.59) price target on shares of Polymetal International PLC in a research note on Thursday, June 16th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of GBX 686.11 ($9.14).

Polymetal International plc is a precious metals mining company. The Company has a portfolio of over seven operating gold and silver mines and a pipeline of projects in Russia, Kazakhstan and Armenia in Russia and Kazakhstan. It operates through eight segments: Voro (CJSC Gold of Northern Urals), Okhotsk operations (LLC Okhotskaya Mining and Exploration Company, Svetloye LLC), Dukat (CJSC Magadan Silver), Omolon (Omolon Gold Mining Company LLC), Varvara (JSC Varvarinskoye), Amursk-Albazino (Albazino Resources Ltd, Amur Hydrometallurgical Plant LLC), Mayskoye (Mayskoye Gold Mining Company LLC) and Kyzyl (Bakyrchik Mining Venture LLP, JSC Inter Gold Capital).

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