SigmaRoc (LON:SRC) Shares Up 1.9% - Here's What Happened

Key Points

• SigmaRoc's stock rose by 1.9% during mid-day trading, reaching a high of GBX 116.40 ($1.56) before closing at GBX 115.20 ($1.55).
• Deutsche Bank raised its price target for SigmaRoc from GBX 115 to GBX 140 and assigned a "buy" rating based on anticipated growth.
• The company focuses on acquiring quarried materials assets in the UK and Northern Europe, aiming to enhance its value through strategic management and consolidation.

SigmaRoc plc (LON:SRC - Get Free Report)'s stock price shot up 1.9% during mid-day trading on Wednesday . The stock traded as high as GBX 116.40 ($1.56) and last traded at GBX 115.20 ($1.55). 3,583,863 shares traded hands during mid-day trading, a decline of 37% from the average session volume of 5,664,555 shares. The stock had previously closed at GBX 113 ($1.52).

Wall Street Analysts Forecast Growth

Separately, Deutsche Bank Aktiengesellschaft raised their price objective on SigmaRoc from GBX 115 to GBX 140 and gave the company a "buy" rating in a research note on Thursday, July 31st. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, SigmaRoc has an average rating of "Buy" and an average price target of GBX 140.

SigmaRoc Price Performance

The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 92.26. The stock has a market capitalization of £1.25 billion, a P/E ratio of 5,907.69 and a beta of 1.72. The stock has a 50 day moving average of GBX 115.35 and a 200-day moving average of GBX 101.49.

About SigmaRoc

SigmaRoc is an AIM-quoted lime and limestone group targeting quarried materials assets in the UK and Northern Europe. It 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. It seeks to de-risk its investments through the selection of projects with strong asset-backing.

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