Upgrade Alert for Royal Gold (RGLD)
Royal Gold (NASDAQ:RGLD) was upgraded from Neutral to Buy at Dundee today. The stock closed yesterday at $78.25 on volume of 2.5 million shares, above average daily volume of 817,000.
Royal Gold, Inc. is a United States-based precious metals royalty company that invests in public companies that hold and manage royalties on precious metals properties. The Company holds investments in a number of properties located in the United States, Argentina, Greece, and Bulgaria.
Over the past year, Royal Gold has traded in a range of $24.68 to $77.20 and closed yesterday at $78.25, 217% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 2.5%.
Based on a current price of $78.25, Royal Gold is currently 20.9% above its average consensus analyst price target of $61.89. Royal Gold shares have support at the 50-day moving average (MA) of $52.55 and additional support at the 200-day MA of $45.10.
SmarTrend recommended that subscribers consider buying shares of Royal Gold on June 6th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $61.51. Since that recommendation, shares of Royal Gold have risen 21.6%. We continue to monitor RGLD for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: analyst upgrades/downgrades Royal Gold