Lonmin's shares: Another bloodbath in South Africa after losses
The share of the British mining group Lonmin plc (ISIN GB0031192486 / WKN 856 046) has also continued on Friday its losses from the previous day.
Background of the harsh reductions of around 13 percent within a few days, the ongoing strike in the South African platinum mine Marikana. There it came as a result of police action against the strikers to 35 dead.
As a result of the unrest has Lonmin operations in all South African platinum mines set. As a result, the third-largest platinum producer in the world, yesterday declared that it was unlikely to meet even the annual forecast. In the first half of 2012 Lonmin had to identify against the background of declining sales, a loss. Here, the company had under weak demand and rising costs in Europe to suffer. Lonmin platinum mines are in South Africa.
Analysts already reacted to the news from South Africa. Sun classified as Goldman Sachs today Lonmin's shares from "buy" to "conviction sell" down. The target price has been reduced from £ 6.50 to £ 3.00. The Société Générale assesses Lonmin's shares remain rated "sell". The 12-month target price has been reduced from £ 2.55 to £ 1.45.
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