- Naranj Research Desk
- 🇸🇦 Saudi Stock Market
- 🇺🇸 USA Stock Market
Ma’aden, a mining and metals company based in the Kingdom of Saudi Arabia, along with its subsidiaries, operates in various regions globally including the Indian Subcontinent, Japan, the United States, Europe, Australia, Brazil, Africa, and the GCC. The company has distinct strategic business units such as Phosphate, Aluminium, Base Metals and New Minerals, as well as additional segments. Its primary mining activities involve gold, phosphate rock, bauxite, kaolin, and magnesite, along with the extraction of copper, zinc, and silver concentrates. The company primarily owns stakes in the Mansourah-Massarah, Mahd Ad-Dahab, Bulghah, Al-Amar, Sukhaybarat, As Suq, Ad Duwayhi, Al-Jalamid, Al-Khabra, Az Zabirah, Al-Ghazallah, and Al-Ba’itha mines. It distributes phosphate fertilizers, ammonia, and industrial minerals, along with alumina, aluminum, and flat rolled products directly to customers and through marketing agents. Additionally, the company manufactures aluminum and T-shape ingots, slabs, sheets, and billets, caustic soda and EDC, as well as urea, phosphate, and potassium fertilizers. It also oversees and advances infrastructure projects. Saudi Arabian Mining Company (Ma’aden) is based in Riyadh, the Kingdom of Saudi Arabia.
MAADEN — TASI —
MACD line has just crossed the signal line from the below, generates bullish signal.
The short length exponential moving average (10 EMA) is about to cross the long length exponential moving average (20 EMA) from the below, generates bullish signal. Last day’s candle has closed above all these moving averages. This suggests buyers are taking interest in this stock.
The Price bounced when it touched the lower band and moved higher.
Based on our short term trading of Saudi stocks, Saudi Arabian Mining stock price target will be SAR 46 - SAR 47 in the next 10-12 trading sessions.
