MTN Group (OTCMKTS:MTNOY) Hits New 1-Year High - Here's Why

Key Points

• MTN Group's stock reached a new 52-week high, trading as high as $9.04 and closing at $8.69 on Wednesday, with a trading volume of 5820 shares.
• Citigroup has upgraded MTN Group from a "hold" rating to a "strong-buy" rating, indicating positive sentiment among analysts.
• The company operates in mobile telecommunications across various regions including South Africa and Nigeria, providing services such as data, voice, SMS, and fintech solutions.

MTN Group Ltd. (OTCMKTS:MTNOY - Get Free Report) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $9.04 and last traded at $8.69, with a volume of 5820 shares changing hands. The stock had previously closed at $8.66.

Analyst Upgrades and Downgrades

Separately, Citigroup upgraded MTN Group from a "hold" rating to a "strong-buy" rating in a research report on Thursday, June 26th.

MTN Group Price Performance

The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.48. The business's 50-day simple moving average is $7.89 and its two-hundred day simple moving average is $6.84.

MTN Group Company Profile

MTN Group Limited, together with its subsidiaries, provides mobile telecommunications services in South Africa, Nigeria, East Africa, West and Central Africa, and the Middle East and North Africa. The company offers data, voice and SMS, digital and fintech, interconnect, and roaming services, as well as sells mobile devices.