Could Arizona Mining Inc See a Reversal After Breaking Its 52-Week High?

 Could Arizona Mining Inc See a Reversal After Breaking Its 52 Week High?

The stock of Arizona Mining Inc (TSE:AZ) hit a new 52-week high and has $3.91 target or 27.00% above today’s $3.08 share price. The 6 months bullish chart indicates low risk for the $792.77M company. The 1-year high was reported on Nov, 9 by Barchart.com. If the $3.91 price target is reached, the company will be worth $214.05 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 last traded at $3.08 per share. It is down 294.87% since April 5, 2016 and is uptrending. It has outperformed by 290.09% the S&P500.

Arizona Mining Inc (TSE:AZ) Ratings Coverage

Out of 2 analysts covering Arizona Mining Inc (TSE:AZ), 2 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. $3.50 is the highest target while $2 is the lowest. The $2.75 average target is -10.71% below today’s ($3.08) stock price. Arizona Mining Inc has been the topic of 5 analyst reports since May 16, 2016 according to StockzIntelligence Inc. As per Tuesday, October 25, the company rating was maintained by Scotia Capital. The company was maintained on Friday, August 19 by Scotia Capital. Scotia Capital maintained the stock with “Outperform” rating in Friday, July 8 report.

Arizona Mining Inc., formerly AZ Mining Inc., is a Canada junior resource company. The company has a market cap of $792.77 million. The Firm is engaged in the acquisition, exploration and if warranted, development of natural mineral resource properties. It currently has negative earnings. It operates through mineral exploration and development segment.

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