SigmaRoc (LON:SRC) Share Price Passes Below 50 Day Moving Average – What’s Next?

SigmaRoc plc (LON:SRC) shares crossed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of GBX 121.46 and traded as low as GBX 118.50. SigmaRoc shares last traded at GBX 118.90, with a volume of 8,119,986 shares.

Analysts Set New Price Targets

Several equities analysts recently issued reports on SRC shares. Berenberg Bank restated a “hold” rating and issued a GBX 130 target price on shares of SigmaRoc in a report on Wednesday, July 22nd. Deutsche Bank Aktiengesellschaft lifted their price objective on SigmaRoc from GBX 140 to GBX 150 and gave the stock a “buy” rating in a research report on Wednesday, April 15th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, SigmaRoc currently has an average rating of “Moderate Buy” and a consensus price target of GBX 165.33.

SigmaRoc Stock Up 2.2%

The company has a debt-to-equity ratio of 77.40, a quick ratio of 0.88 and a current ratio of 1.17. The firm’s 50 day moving average price is GBX 121.46 and its two-hundred day moving average price is GBX 127.11. The company has a market cap of £1.35 billion, a P/E ratio of 18.00 and a beta of 1.25.

SigmaRoc Company Profile

SigmaRoc is Northern European quoted lime and limestone group targeting quarried materials assets in the UK and Northern Europe.

Lime and limestone are key resources in the transition to a more sustainable economy. New applications for lime and limestone products as part of a drive for sustainability include the production and recycling of lithium batteries, the decarbonisation of construction including through substitution of cementitious material and new building materials, and environmental applications including lake liming, air pollution and direct air capture.

SigmaRoc 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.