The stock of Western Areas Ltd (ASX:WSA) hit a new 52-week high and has $3.53 target or 9.00% above today’s $3.24 share price. The 8 months bullish chart indicates low risk for the $882.03M company. The 1-year high was reported on Nov, 22 by Barchart.com. If the $3.53 price target is reached, the company will be worth $79.38M 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 2.53% or $0.08 on November 22, hitting $3.24. About 2.59M shares traded hands or 11.64% up from the average. Western Areas Ltd (ASX:WSA) has risen 27.56% since April 26, 2016 and is uptrending. It has outperformed by 23.00% the S&P500.
More notable recent Western Areas Ltd (ASX:WSA) news were published by: Fool.com.Au which released: “Where to next for the Western Areas Ltd share price?” on September 23, 2016, also Marketwired.com with their article: “Western Areas Appointment of Independent Non-Executive Director — Dr Natalia …” published on November 21, 2016, Fool.com.Au published: “Are South32 Ltd and Western Areas Ltd about to ride a surging nickel price?” on September 28, 2016. More interesting news about Western Areas Ltd (ASX:WSA) were released by: Marketwired.com and their article: “Western Areas Announces September 2016 Quarterly Activities Report” published on October 19, 2016 as well as Marketwired.com‘s news article titled: “Western Areas Announces June 2016 Quarterly Activities Report” with publication date: July 21, 2016.
Western Areas Limited is an Australia mining company. The company has a market cap of $882.03 million. The Company’s principal activities include mining, processing and sale of nickel sulfide concentrate, the continued assessment of development feasibility of the high-grade nickel mines, and the exploration for nickel sulfides, other base metals and platinum group metals. It currently has negative earnings. The Firm has nickel production assets in Australia and base metals development projects across Australia, Canada and Finland.
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