RBC Capital Markets analysts reiterated its Outperform rating on Royal Gold Inc. (NASDAQ: RGLD) in a note to investors, making it one of the more closely watched stocks on Wall Street. The company currently has a rating of Outperform on the shares. The one-year price target of $92.38 is above the opening price of $77.59, resulting a fair amount of other analysts to issue statements on the company recently. Looking back over the last 52 weeks, Royal Gold Inc. stock has a high of $87.74. Share prices sometimes get a jump to the upside when analysts reiterate coverage.
U.S. stocks closed higher Tuesday as investors anticipate the results of meetings from the Federal Reserve and the Bank of Japan.
The Dow Jones Industrial Average DJIA, +0.05% rose 9.79 points, or less than 0.1%, to close at 18,129.96.
The S&P 500 index SPX, +0.03% advanced 0.64 points to finish at 2,139.76, led by gains in the health-care and consumer-staples sectors.
The Nasdaq Composite index COMP, +0.12% gained 6.33 points, or 0.1%, to close at 5,241.35.
Shares of Royal Gold Inc. (NASDAQ: RGLD) opened at $77.59 yesterday and traded in a range between, $76.65 and $77.86, and last traded at $77.68, a spike of $0.67 from the previous closing price.
Royal Gold Inc. (NASDAQ: RGLD) now has a market cap of 5.07B.
The stock’s average daily volume is 798,698 shares out of a total float 64,683,000 and some 540,969 shares crossed the trading desk yesterday, 15 percent lower than normal. Trading volume is likely to increase in the next few days as momentum traders often use increases in trading volume to identify heavy volume growth or circulation by institutional investors.
As with all potential breakouts, investors look for volume to be at least 40%-50% above normal on the breakout to demonstrate that fund managers and other professional investors are jumping in.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These instituitional investors retain substantial teams of analysts researching thousands of stocks, so it is good confirmation to see them buying a stock you’re considering.
By identifying trends, moving averages allow investors to make those trends work in their favor and increase the number of successful trades.
With that in mind, Royal Gold Inc. (NASDAQ: RGLD) now has a 50-day MA of $80.24 and 200-day MA of $66.69. It has traded in a 52-week range between $24.68 – 87.74 and today’s last price is 0.11% lower than the 52 week high of $87.74.
Earnings growth is an important factor to consider when buying stocks and investors watch for companies that have grown their earnings by at least 25% over the past 3 years.
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