Weir Group (OTCMKTS:WEGRY) Sees Large Volume Increase – Should You Buy?

Shares of Weir Group (OTCMKTS:WEGRY) saw unusually-high trading volume on Monday . Approximately 164,581 shares traded hands during trading, an increase of 303% from the previous session’s volume of 40,809 shares.The stock last traded at $18.35 and had previously closed at $19.00.

Analysts Set New Price Targets

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

Weir Group Trading Down 4.5%

The company’s 50 day moving average price is $18.11 and its two-hundred day moving average price is $18.46. The company has a quick ratio of 1.30, a current ratio of 2.05 and a debt-to-equity ratio of 0.87.

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.