The stock of Mineral Resources Limited (ASX:MIN) hit a new 52-week high and has $14.04 target or 8.00% above today’s $13.00 share price. The 7 months bullish chart indicates low risk for the $2.43B company. The 1-year high was reported on Nov, 22 by Barchart.com. If the $14.04 price target is reached, the company will be worth $194.40M 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 4.08% or $0.51 on November 22, hitting $13. About 1.37 million shares traded hands or 47.78% up from the average. Mineral Resources Limited (ASX:MIN) has risen 82.84% since April 26, 2016 and is uptrending. It has outperformed by 78.29% the S&P500.
More news for Mineral Resources Limited (ASX:MIN) were recently published by: Investingnews.com, which released: “Pilbara Minerals Reaches Agreement With Mineral Resources” on October 25, 2016. Fool.com.Au‘s article titled: “Another warning for investors considering resource stocks” and published on November 22, 2016 is yet another important article.
Mineral Resources Limited is a provider of mining infrastructure services in Australia. The company has a market cap of $2.43 billion. The Firm is engaged in the integrated supply of goods and services to the resource sector. It currently has negative earnings. The Firm operates in three divisions, which include Mineral Services and Processing, Mining, and Central.
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