The stock of Afarak Group Plc (LON:AFRK) hit a new 52-week high and has GBX 61.71 target or 72.00% above today’s GBX 35.88 share price. The 8 months bullish chart indicates low risk for the GBX company. The 1-year high was reported on Sep, 14 by Barchart.com. If the GBX 61.71 price target is reached, the company will be worth GBX more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock increased 10.39% or GBX 3.38 on September 13, hitting GBX 35.88. It is down 0.00% since February 3, 2016 and is . It has underperformed by 16.49% the S&P500.
Afarak Group Plc, formerly Ruukki Group Oyj, is a Finland firm active in the steel sector. The company has a market cap of GBP. The Company’s business comprises two production divisions, FerroAlloys and Speciality Alloys, and a sales and marketing operation, RSC Limited. It currently has negative earnings. The FerroAlloys business consists of the Stellite mine, the alloy processing plant Mogale and the Mecklemburg development project in South Africa and the Waylox mine development project in Zimbabwe.
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