Ecora Resources (LON:ECOR) Stock Crosses Above 200 Day Moving Average - Here's What Happened

Key Points

• Ecora Resources shares have surpassed their 200-day moving average of GBX 63.19, trading as high as GBX 77.70, indicating positive momentum in the stock.
• Market analysts have a consensus rating of "Buy" for Ecora Resources, with price targets set at GBX 150 by Canaccord Genuity and GBX 120 by Berenberg Bank.
• The company specializes in renewable commodities, boasting a market cap of £192.09 million and a current ratio of 0.60, reflecting its financial stability amid growth prospects.

Ecora Resources PLC (LON:ECOR - Get Free Report) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 63.19 ($0.85) and traded as high as GBX 77.70 ($1.05). Ecora Resources shares last traded at GBX 77.13 ($1.04), with a volume of 1,122,183 shares traded.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ECOR. Canaccord Genuity Group reiterated a "buy" rating and issued a GBX 150 target price on shares of Ecora Resources in a research note on Tuesday, September 2nd. Berenberg Bank reaffirmed a "buy" rating and set a GBX 120 price objective on shares of Ecora Resources in a research note on Monday, September 1st. Two analysts have rated the stock with a Buy rating, According to MarketBeat.com, Ecora Resources presently has an average rating of "Buy" and a consensus target price of GBX 135.

Ecora Resources Stock Performance

The company's 50-day moving average price is GBX 71.71 and its two-hundred day moving average price is GBX 63.52. The company has a debt-to-equity ratio of 22.68, a quick ratio of 2.08 and a current ratio of 0.60. The stock has a market cap of £191.27 million, a PE ratio of -640.00, a PEG ratio of 0.12 and a beta of 0.62.

Ecora Resources Company Profile

Ecora Resources is a leading royalty company focused on supporting the supply of commodities essential to creating a sustainable future. The company is listed on both the London and Toronto Stock Exchange. Our vision is to be globally recognised as the royalty company of choice synonymous with commodities that support a sustainable future by continuing to grow and diversify our royalty portfolio in line with our strategy.