Umicore (OTCMKTS:UMICY) Shares Gap Down Following Analyst Downgrade

Umicore S.A. – Unsponsored ADR (OTCMKTS:UMICY) gapped down prior to trading on Monday after Berenberg Bank downgraded the stock from a strong-buy rating to a hold rating. The stock had previously closed at $6.76, but opened at $6.2480. Umicore shares last traded at $6.22, with a volume of 4,790 shares trading hands.

Other equities research analysts also recently issued research reports about the company. Zacks Research upgraded Umicore to a “hold” rating in a research report on Tuesday, May 19th. Kepler Capital Markets cut Umicore from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 11th. The Goldman Sachs Group upgraded Umicore from a “neutral” rating to a “buy” rating in a research note on Wednesday, May 13th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Umicore in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy”.

Umicore Stock Up 2.4%

The company has a current ratio of 1.35, a quick ratio of 0.75 and a debt-to-equity ratio of 0.99. The business’s fifty day moving average price is $6.36 and its 200-day moving average price is $5.62.

Umicore Company Profile

Umicore is a global materials technology and recycling company headquartered in Brussels, Belgium. The company specializes in the development and manufacture of advanced materials and catalysts that support clean mobility, energy storage and sustainable resource management. Its activities span the refining and recovery of precious metals, the production of emission control catalysts for the automotive industry, and the sourcing of materials for rechargeable batteries.

Umicore operates through three main business units: Catalysis, Energy & Surface Technologies, and Recycling.