Could EVRAZ plc Go Down After Reaching 52-Week High?

 Could EVRAZ plc Go Down After Reaching 52 Week High?

The stock of EVRAZ plc (LON:EVR) hit a new 52-week high and has GBX 399.42 target or 59.00% above today’s GBX 251.21 share price. The 7 months bullish chart indicates low risk for the GBX 3.57 billion company. The 1-year high was reported on Nov, 10 by Barchart.com. If the GBX 399.42 price target is reached, the company will be worth GBX 2.11B 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 12.30% or GBX 27.51 on November 10, hitting GBX 251.21. About 5.02 million shares traded hands or 66.78% up from the average. EVRAZ plc (LON:EVR) has risen 106.56% since April 12, 2016 and is uptrending. It has outperformed by 100.91% the S&P500.

EVRAZ plc (LON:EVR) Ratings Coverage

Out of 7 analysts covering Evraz Plc (LON:EVR), 1 rate it a “Buy”, 6 “Sell”, while 0 “Hold”. This means 14% are positive. GBX 140 is the highest target while GBX 30 is the lowest. The GBX 80.83 average target is -67.82% below today’s (GBX 251.21) stock price. Evraz Plc has been the topic of 25 analyst reports since July 24, 2015 according to StockzIntelligence Inc. Jefferies maintained the stock with “Hold” rating in Tuesday, October 20 report. The rating was maintained by Jefferies on Friday, August 19 with “Underperform”. The rating was maintained by Credit Suisse on Tuesday, November 10 with “Neutral”. Jefferies maintained the stock with “Underperform” rating in Thursday, September 1 report. The company was maintained on Friday, October 30 by JP Morgan. On Friday, October 9 the stock rating was maintained by UBS with “Sell”. Credit Suisse maintained EVRAZ plc (LON:EVR) rating on Tuesday, October 6. Credit Suisse has “Neutral” rating and GBX 120 price target. On Friday, July 1 the stock rating was maintained by Jefferies with “Underperform”. The firm has “Neutral” rating by Credit Suisse given on Monday, October 19. The firm has “Equal Weight” rating by Barclays Capital given on Friday, July 24.

Another recent and important EVRAZ plc (LON:EVR) news was published by Fool.Co.Uk which published an article titled: “Is Evraz plc a better buy than Rio Tinto plc and BHP Billiton plc after today …” on August 18, 2016.

EVRAZ plc is a United Kingdom-based steel, mining and vanadium company. The company has a market cap of 3.57 billion GBP. The Company’s principal activities include manufacturing steel and steel products, iron ore mining and enrichment, coal mining, manufacturing vanadium products, and trading activities and logistics. It currently has negative earnings. The Firm has four divisions: Steel; Steel, North America; Coal, and Other Operations.

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