News of Acacia’s production rise buoys share price at DSE
Acacia Mining interim CEO Peter Geleta PHOTO | FILE
What you need to know:
- Acacia mining has continued to experience a positive share price movement, which has caused an increase of company market capitalisation by nearly Sh400 billion over the last ten weeks.
Dar es Salaam. Acacia share price rebounded on Monday after recording a 4.07 per cent share compared with the price of day of last week.
A Dar es Salaam Stock Exchange (DSE) market report has shown that the price of the company’s shares closed at Sh6,400 on Monday, up from Sh6,150 during the closing session last week.
The company share prices have been experiencing ups and downs since the start of the year. The price closed at Sh5,500 on December 31, 2018. The similar price was also recorded during the first session of this year: on January 2.
The company owns three major gold mines in Tanzania. They are North Mara, Bulyanhulu and Buzwagi.
Recently, it announced positive numbers on production last year.
The appreciation of the company share price also enabled the increase of the market capitalisation by nearly Sh400 billion to Sh2.62 trillion on Monday, up from Sh2.27 trillion during the opening day of this year.
Meanwhile the DSE recorded a low turnover of Sh45.5 million during the opening day of this week, lower than Sh62.9 million during the closing day of last week.
During the day under review, the market was dominated by local investors, who injected 97.5 per cent of the buying value and 95 per cent of the selling value.
Foreign investors had little participation during the day after injecting only Sh1 million through buying or 2.4 per cent and Sh2 million through selling or 4.6 per cent.
According to the report, the CRDB counter had 1,314 shares traded at weighted average price of Sh125 per share in three deals and the Nicol counter had 6,000 shares transacted at weighted average Sh160 in two deals. The Swissport counter had 1,070 shares traded at weighted average price of Sh1,980 each in four deals while the TBL counter had 742 shares transacted at weighted average price of Sh11,060 each in five deals.
According to the report, the TCC counter had 400 shares traded at weighted average price of Sh14,500 per share in one deal and TPCC counter had 5,120 shares traded at weighted average price of Sh2,040 per share in three deals.
Acacia Mining is listed on the London Stock Exchange and DSE.
