BofA update shows where active managers are putting money
Berenberg initiated coverage on ACG Metals Ltd (LSE:ACG) with a buy rating and a price target of GBP7.20, citing the company’s growth platform centered around its Gediktepe polymetallic mine in Türkiye.
The research firm stated that ACG Metals is "quietly building a compelling growth platform" that establishes groundwork for a potential roll-up strategy in the copper sector. Berenberg’s price target implies approximately 40% upside potential from current trading levels.
Originally formed as a UK-listed special purpose acquisition company (SPAC), ACG Metals has "flown under the radar," according to Berenberg, with the market not yet fully recognizing the quality of its cornerstone asset or its leadership team’s capabilities.
The Gediktepe polymetallic mine in Türkiye serves as the company’s central asset, providing the foundation for its growth strategy in the metals sector, particularly focused on copper opportunities.
Berenberg analyst William Dalby issued the coverage initiation, though the firm did not specify a timeframe for when it expects ACG to reach the GBP7.20 price target.
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