Strategic Minerals (LON:SML) Hits New 52-Week High - What's Next?

Key Points

• Shares of Strategic Minerals hit a new 52‑week high, trading as high as GBX 4.50 and last at GBX 4.17 (previous close GBX 4.10) on volume of 29,229,563, reflecting a 1.6% intraday gain.
• The stock's technicals show a 50‑day SMA of GBX 2.74 and a 200‑day SMA of GBX 1.62, with a market capitalization of £98.68 million and a low PE of 6.78, although the company has a high debt‑to‑equity ratio of 13.25.
• Strategic Minerals is a producing minerals company operating in the UK and USA that intends to use US cash flow to accelerate development of the Redmoor Tungsten‑Tin‑Copper Project (2019 inferred resource 11.7Mt at 1.17% tin equivalent) and also holds the Leigh Creek Copper Mine.

Shares of Strategic Minerals Plc (LON:SML - ) hit a new 52-week high on Wednesday . The stock traded as high as GBX 4.50 and last traded at GBX 4.17, with a volume of 29229563 shares changing hands. The stock had previously closed at GBX 4.10.

Strategic Minerals Stock Up 1.6%

The business's 50 day simple moving average is GBX 2.74 and its 200 day simple moving average is GBX 1.62. The company has a debt-to-equity ratio of 13.25, a current ratio of 0.98 and a quick ratio of 1.49. The company has a market capitalization of £98.68 million, a PE ratio of 6.78 and a beta of 0.86.

Strategic Minerals Company Profile

Strategic Minerals (AIM: SML; USOTC: SMCDY) is a producing minerals company, actively developing strategic projects in the UK, United States and Australia. In 2012, the company commenced production at its first magnetite operation, the Cobre stockpile in New Mexico, USA. Currently, the company's main countries of operation are the UK and USA. In March 2018, the Company completed the acquisition of the Leigh Creek Copper Mine situated in the copper rich belt of South Australia. The company continues to seek opportunities to monetise the asset. In 2019, the company completed the 100% acquisition of Cornwall Resources Limited and the Redmoor Tungsten-Tin-Copper Project, with a 2019 JORC-compliant, Inferred Mineral Resource Estimate of 11.7Mt at 1.17% Tin equivalent, made up of Tungsten, Tin and Copper. Strategic Minerals' primary objective is to utilise cash flow from existing operations in the USA to accelerate development of the Redmoor Tungsten-Tin-Copper Project in Cornwall, UK with world-class potential.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.