Christine Coignard, an insider at Ecora Resources PLC, purchased 11,400 shares of the company on November 14, 2023, in a transaction valued at £10,488. The shares were acquired at an average price of GBX 92 each, reflecting a significant investment in the firm. Following this transaction, Ecora Resources witnessed a 2.5% increase in its stock price, which opened at GBX 94 on the same day.
The company’s stock has experienced notable fluctuations over the past year, with a low of GBX 48 and a high of GBX 99.80. The current 50-day moving average stands at GBX 87.85, while the 200-day moving average is at GBX 73.54. As of now, Ecora Resources holds a market capitalization of approximately £234.11 million.
Investors and analysts have been closely monitoring Ecora’s performance. The company has a debt-to-equity ratio of 22.68, a quick ratio of 2.08, and a current ratio of 0.60. The price-to-earnings (P/E) ratio is currently reported at -7.83, with a price-to-earnings to growth (P/E/G) ratio of 0.12 and a beta of 0.62.
Analyst Ratings and Market Outlook
Recent assessments by equity analysts have painted a positive outlook for Ecora Resources. Canaccord Genuity Group raised its price target for the company from GBX 150 to GBX 155 and assigned a “buy” rating in a report released on October 29, 2023. Meanwhile, Berenberg Bank has reaffirmed a “buy” rating with a price target of GBX 120 as noted in their report dated September 30, 2023. Currently, two investment analysts have rated the stock as a buy, leading to an average price target of GBX 137.50, according to data from MarketBeat.com.
Ecora Resources is recognized as a leading royalty company, dedicated to supporting the supply of commodities that are vital for a sustainable future. The company is listed on both the London and Toronto Stock Exchanges, with a vision to be the preferred royalty company associated with sustainable commodities.
As Ecora continues to navigate the market landscape, the recent insider purchase by Coignard may signal confidence in the company’s future prospects, further encouraging both current and potential investors.
