Umicore (OTCMKTS:UMICY) Sees Large Volume Increase – Time to Buy?

Umicore S.A. – Unsponsored ADR (OTCMKTS:UMICY) saw strong trading volume on Thursday . 144,497 shares were traded during trading, an increase of 498% from the previous session’s volume of 24,158 shares.The stock last traded at $6.27 and had previously closed at $6.32.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on UMICY. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Umicore in a research report on Tuesday, January 6th. Jefferies Financial Group raised shares of Umicore to a “strong-buy” rating in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy”.

Umicore Price Performance

The stock has a 50-day moving average price of $5.10 and a 200 day moving average price of $4.58.

About Umicore

Umicore is a global materials technology and recycling company headquartered in Brussels, Belgium. The company specializes in the development and manufacture of advanced materials and catalysts that support clean mobility, energy storage and sustainable resource management. Its activities span the refining and recovery of precious metals, the production of emission control catalysts for the automotive industry, and the sourcing of materials for rechargeable batteries.

Umicore operates through three main business units: Catalysis, Energy & Surface Technologies, and Recycling.