Minerals Technologies: The Winning Streak Continues (MTX)
Minerals Technologies (NYSE:MTX) traded today at a new 52-week high of $41.44. Approximately 74,000 shares have changed hands today, as compared to an average 30-day volume of 145,000 shares.
Minerals Technologies (NYSE:MTX) is currently priced 2.5% above its average consensus analyst price target of $40.33. The stock should find initial support at its 50-day moving average (MA) of $37.54 and further support at its 200-day MA of $34.29.
Over the past year, Minerals Technologies has traded in a range of $29.68 to $41.44 and is now at $41.35, 39% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has advanced 1.1%.
Minerals Technologies Inc. is a resource- and technology-based organization that develops and produces performance-enhancing minerals, mineral-based, and synthetic mineral products. The Company's products are used for paper, steel, polymer, and other manufacturing industries on a worldwide basis.
SmarTrend recommended that subscribers consider buying shares of Minerals Technologies on November 23rd, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $36.38. Since that recommendation, shares of Minerals Technologies have risen 12.5%. We continue to monitor MTX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: 52 week high/lows minerals technologies