Mincon Group (LON:MCON) Stock Jumps 7.7% – Here’s Why

Shares of Mincon Group plc (LON:MCON) rose 7.7% on Thursday. The stock traded as high as GBX 70 and last traded at GBX 70. 16,257 shares traded hands during mid-day trading, a decline of 52% from the average daily volume of 33,751 shares. The stock had previously closed at GBX 65.

Analysts Set New Price Targets

Separately, Jefferies Financial Group reissued a “house stock” rating on shares of Mincon Group in a research report on Tuesday, August 4th.

Mincon Group Stock Performance

The company has a market capitalization of £148.73 million, a PE ratio of 14.71 and a beta of 0.14. The company has a current ratio of 3.13, a quick ratio of 1.07 and a debt-to-equity ratio of 18.63. The business’s fifty day moving average is GBX 62.77 and its two-hundred day moving average is GBX 60.58.

About Mincon Group

Mincon Group plc engages in the design, manufacture, sale, and servicing of rock drilling tools and associated products in Ireland, the Americas, Australasia, Europe, the Middle East, and Africa. The company offers drill rigs and mast attachments for excavators and skid steers; down the hole (DTH) hammers; DTH drill bits for various rock-drilling applications; rotary drill bits; and construction and geotechnical solutions, including foundation drilling, pipe pile-walls, fore poling, well drilling, and anchoring.