Horizonte Minerals Plc 382.1% potential upside indicated by Canaccord Genuity

Horizonte Minerals Plc with ticker (LON:HZM) now has a potential upside of 382.1% according to Canaccord Genuity.



Canaccord Genuity set a target price of 90 GBX for the company, which when compared to the Horizonte Minerals Plc share price of 19 GBX at opening today (20/10/2023) indicates a potential upside of 382.1%. Trading has ranged between 14 (52 week low) and 172 (52 week high) with an average of 4,672,974 shares exchanging hands daily. The market capitalisation at the time of writing is £48,306,242.

Horizonte Minerals Plc is a United Kingdom-based nickel company. The Company is focused on developing two tier one projects in Para State, Brazil. Its projects include Araguaia Nickel Project and the Vermelho Nickel-Cobalt Project. Its 100% owned Araguaia Nickel Project is located south of the Carajas Mining District in Para State, north Brazil. The project has two principal mining centers: Araguaia Nickel South (ANS) and Araguaia Nickel North (ANN). ANS hosts seven deposits: Pequizeiro, Baiao, Pequizeiro West, Jacutinga, Vila Oito East, Vila Oito West, and Vila Oito, while ANN hosts the Vale do Sonhos deposit. Its 100% owned Vermelho Nickel-Cobalt project is located in the Carajas Mining District in Para State, northeast Brazil. The Vermelho nickel deposits consist of two hills named V1 and V2. Vermelho Project is expected to produce 25,000 tons of nickel and 1,250 tons of cobalt to supply the electric vehicle (EV) battery market.