Shanta Gold (SHG) Price Target Cut to GBX 13 by Analysts at Peel Hunt

Shanta Gold (LON:SHG) had its price objective reduced by investment analysts at Peel Hunt from GBX 16 ($0.22) to GBX 13 ($0.17) in a report released on Thursday. The brokerage currently has a “buy” rating on the stock. Peel Hunt’s price objective would indicate a potential upside of 195.45% from the stock’s current price.

A number of other analysts have also commented on the stock. FinnCap reiterated an “under review” rating on shares of Shanta Gold in a research note on Tuesday, September 12th. Shore Capital started coverage on shares of Shanta Gold in a research note on Tuesday, September 5th. They issued a “not rated” rating for the company.

Shares of Shanta Gold (LON:SHG) traded down GBX 0.10 ($0.00) during mid-day trading on Thursday, hitting GBX 4.40 ($0.06). 407,081 shares of the stock were exchanged, compared to its average volume of 1,160,000. Shanta Gold has a 52-week low of GBX 3 ($0.04) and a 52-week high of GBX 12.75 ($0.17).

In other Shanta Gold news, insider Ketan Patel bought 222,885 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The stock was bought at an average cost of GBX 6 ($0.08) per share, for a total transaction of £13,373.10 ($17,998.79). Also, insider Robin Anthony Fryer sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of GBX 5 ($0.07), for a total transaction of £1,500 ($2,018.84).

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About Shanta Gold

Shanta Gold Limited is a gold producing company engaged in the investment in gold exploration and production in Tanzania. The Company is engaged in mining, processing, exploration and related activities. Its Tanzanian-based assets include New Luika Gold Mine, Singida, Songea and Lupa Goldfield exploration.

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