SigmaRoc (LON:SRC) Share Price Passes Below 50 Day Moving Average – What’s Next?

SigmaRoc plc (LON:SRC)’s stock price crossed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of GBX 121.57 and traded as low as GBX 109.90. SigmaRoc shares last traded at GBX 112.50, with a volume of 6,194,397 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Berenberg Bank reaffirmed a “hold” rating and set a GBX 130 price objective on shares of SigmaRoc in a research note on Thursday, April 30th. Panmure Gordon boosted their price objective on shares of SigmaRoc from GBX 198 to GBX 216 and gave the company a “buy” rating in a research note on Monday, January 19th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of SigmaRoc from GBX 140 to GBX 150 and gave the company a “buy” rating in a research note on Wednesday, April 15th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of GBX 165.33.

SigmaRoc Trading Up 0.9%

The company has a debt-to-equity ratio of 77.40, a quick ratio of 0.88 and a current ratio of 1.17. The firm has a market cap of £1.26 billion, a PE ratio of 16.81 and a beta of 1.23. The stock’s 50 day simple moving average is GBX 121.57 and its 200 day simple moving average is GBX 126.61.

SigmaRoc (LON:SRC) last released its quarterly earnings results on Monday, March 16th. The company reported GBX 10.51 EPS for the quarter. SigmaRoc had a net margin of 7.68% and a return on equity of 10.11%. On average, sell-side analysts forecast that SigmaRoc plc will post 9.1989319 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Jan Van Beek purchased 22,000 shares of the business’s stock in a transaction on Wednesday, March 25th. The stock was acquired at an average price of GBX 122 per share, with a total value of £26,840. Also, insider Peter Johnson purchased 85,500 shares of the business’s stock in a transaction on Wednesday, March 18th. The stock was bought at an average cost of GBX 117 per share, with a total value of £100,035. Insiders purchased a total of 128,197 shares of company stock valued at $15,048,194 in the last quarter. Corporate insiders own 10.09% of the company’s stock.

About SigmaRoc

SigmaRoc is Northern European quoted lime and limestone group targeting quarried materials assets in the UK and Northern Europe.

Lime and limestone are key resources in the transition to a more sustainable economy. New applications for lime and limestone products as part of a drive for sustainability include the production and recycling of lithium batteries, the decarbonisation of construction including through substitution of cementitious material and new building materials, and environmental applications including lake liming, air pollution and direct air capture.

SigmaRoc seeks to create value by purchasing assets in fragmented materials markets and extracting efficiencies through active management and by forming the assets into larger groups.