What’s Mincon Group PLC Upside After Reaching 52-Week High?

 What's Mincon Group PLC Upside After Reaching 52 Week High?

The stock of Mincon Group PLC (LON:MCON) hit a new 52-week high and has GBX 139.01 target or 109.00% above today’s GBX 66.51 share price. The 8 months bullish chart indicates low risk for the GBX 150.25M company. The 1-year high was reported on Nov, 3 by Barchart.com. If the GBX 139.01 price target is reached, the company will be worth GBX 163.77 million 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 decreased 5.32% or GBX 3.74 on November 3, hitting GBX 66.51. About 5,453 shares traded hands. Mincon Group PLC (LON:MCON) has risen 14.46% since April 6, 2016 and is uptrending. It has outperformed by 13.25% the S&P500.

More recent Mincon Group PLC (LON:MCON) news were published by: Fool.Co.Uk which released: “Will Mincon Group plc beat 2 sector peers after today’s results?” on August 19, 2016. Also Fool.Co.Uk published the news titled: “Mincon Group PLC Falls As Profit Plummets” on August 20, 2014. Gurufocus.com‘s news article titled: “Wasatch International Growth Fund Buys 5 New Stocks” with publication date: June 05, 2014 was also an interesting one.

Mincon Group Plc is an engineering company specializing in the design, manufacture, sale and servicing of rock drilling tools and associated products. The company has a market cap of 150.25 million GBP. The Firm distributes precision engineered hard rock drilling tools for a range of industries, including mining, exploration, waterwell, geothermal, construction, horizontal directional drilling, oil-gas and energy. It has a 16.41 P/E ratio. It operates through the business unit that sells drilling equipment, primarily manufactured by its manufacturing sites.

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