Here's Why FMC Corp Rose 11.5% in August

Here's Why FMC Corp Rose 11.5% in August

Shares of leading agricultural services provider and lithium miner FMC Corp (NYSE: FMC) jumped over 11% last month after the company announced second-quarter 2017 financial results on the first day of August. The stock popped nearly 9% and never looked back -- establishing new 52-week highs in the process. 

The move last month continues an epic run-up in the stock that has rewarded investors with returns of 115% since the beginning of 2016. Although a bit expensive on traditional valuation metrics (the stock trades at 56 times earnings), investors have high hopes for FMC Corp stock. Besides, the leading lithium miners have all traded at a premium in recent quarters, and the company's performance for the first half of 2017 provides a solid argument in favor of deserving that premium.

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Source: Fool.com