I agree RMS will follow gold however, gold price has dropped just below 3% since its May high, RMS has dropped just over 7.5% since its May high. They have a strong bank book, a decent amount of hedging and a strong reserve outlook. Throw in the potential for good grade strikes or increased reserves (as have been previously implied) and I think the current profit takers will want to buy back in quickly. At the current 0.587 I think they are in oversold territory considering the above.
GLTA
Target $0.80, page-70
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Last
$2.16 |
Change
0.040(1.89%) |
Mkt cap ! $2.494B | |||
| Open | High | Low | Value | Volume |
| $2.19 | $2.20 | $2.14 | $6.902M | 3.202M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 221 | $2.14 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.16 | 36399 | 6 |
View Market Depth
| Last trade - 16.10pm 08/11/2024 (20 minute delay) ? |
| RMS (ASX) Chart |