Weir Group (OTCMKTS:WEGRY) Shares Gap Up – Should You Buy?

Weir Group (OTCMKTS:WEGRY) shares gapped up prior to trading on Wednesday . The stock had previously closed at $18.68, but opened at $19.4715. Weir Group shares last traded at $19.5150, with a volume of 3,673 shares.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on WEGRY shares. Kepler Capital Markets raised Weir Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, June 17th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Weir Group in a research note on Wednesday, August 19th. Finally, Citigroup reiterated a “buy” rating on shares of Weir Group in a research report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy”.

Weir Group Stock Down 2.5%

The firm’s 50 day simple moving average is $18.07 and its two-hundred day simple moving average is $18.49. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.05 and a quick ratio of 1.30.

Weir Group Company Profile

Weir Group plc is a Glasgow, Scotland-based engineering company that supplies equipment, technology and services to the global mining industry. Its products are designed to support key stages of mineral processing, including crushing, grinding, classification, slurry handling, dewatering and tailings management.

The company operates primarily through its Weir Minerals and Weir ESCO businesses. Weir Minerals provides pumps, valves, crushers, screens, hydrocyclones, mill liners and other processing equipment, while Weir ESCO supplies ground-engaging tools and related products for surface mining and construction equipment.