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

Umicore S.A. – Unsponsored ADR (OTCMKTS:UMICY)’s share price 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 changing hands.

A number of other equities research analysts have also weighed in on the stock. Kepler Capital Markets lowered shares of Umicore from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 11th. Zacks Research raised shares of Umicore to a “hold” rating in a research note on Tuesday, May 19th. The Goldman Sachs Group upgraded shares of Umicore from a “neutral” rating to a “buy” rating in a report on Wednesday, May 13th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Umicore in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Umicore has an average rating of “Moderate Buy”.

Umicore Stock Up 2.4%

The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.75 and a current ratio of 1.35. The business’s 50 day moving average is $6.36 and its two-hundred day moving average is $5.62.

About Umicore

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.