Mincon Group (LON:MCON) Shares Up 2.7% – Here’s What Happened

Mincon Group plc (LON:MCON) shares shot up 2.7% during mid-day trading on Wednesday . The stock traded as high as GBX 58 and last traded at GBX 58. 75 shares traded hands during trading, a decline of 100% from the average session volume of 27,765 shares. The stock had previously closed at GBX 56.50.

Wall Street Analyst Weigh In

Separately, Shore Capital Group reaffirmed a “house stock” rating on shares of Mincon Group in a research note on Wednesday, April 29th.

Mincon Group Price Performance

The company has a 50 day moving average of GBX 59.16 and a 200 day moving average of GBX 54.22. The stock has a market capitalization of £129.61 million, a price-to-earnings ratio of 24.30 and a beta of 0.12. The company has a quick ratio of 1.07, a current ratio of 3.32 and a debt-to-equity ratio of 22.51.

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.