The stock of Mineral Resources Limited (ASX:MIN) hit a new 52-week high and has $15.27 target or 51.00% above today’s $10.11 share price. The 6 months bullish chart indicates low risk for the $1.89 billion company. The 1-year high was reported on Jul, 28 by Barchart.com. If the $15.27 price target is reached, the company will be worth $963.90M 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. About 925,063 shares traded hands. Mineral Resources Limited (ASX:MIN) has risen 132.45% since December 30, 2015 and is uptrending. It has outperformed by 125.25% the S&P500.
Mineral Resources Limited is an Australia firm engaged in the integrated supply of goods and services to the resources sector. The company has a market cap of $1.89 billion. The Firm operates through three divisions: Mining Services and Processing, Mining, and Central. It has a 20.73 P/E ratio. The Firm has activities in build, own and operate crushing, screening, processing and materials handling, general mine infrastructure, bulk iron ore and manganese commodities production and export and polyethylene pipeline fabrication, pipe lining, pipe fittings manufacture and pipeline installation.
Source: Mineral Resources Limited Surges to 52-Week High, Is Now Top Performer – Consumer Eagle