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Broker views: Mining and mobile payments

26 July 2017 15:12

Credit Suisse has switched to a neutral stance on Acacia Mining (LON:ACA) - previously rated outperform - after reviewing the events since the export ban was imposed by the Tanzanian government, which it said is far from being resolved.

The Swiss bank said: "The company has acknowledged that the status quo cannot continue past the end of this quarter and therefore with the future being so binary on a resolution, we reduce to a Neutral rating and lower our TP to £2 [from £6]."

Meanwhile, Liberum Capital upgraded its recommendation on Paypoint (LON:PAY) to buy from hold on the back of the payment service provider's Annual General Meeting statement, which guides to inline trading.

The broker commented: "The legacy terminal charge is in effect, and has not had a material impact on customers and PayPointOne roll-out has good velocity."

Liberum has a 980 pence target price in place.

At 3:12pm:

(LON:ACA) Acacia Mining Plc share price was -9.7p at 159.3p

(LON:PAY) PayPoint PLC share price was +4.75p at 864.75p

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Related Company: ACA

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