The stock of Regis Resources Limited (ASX:RRL) hit a new 52-week high and has $5.45 target or 59.00% above today’s $3.43 share price. The 7 months bullish chart indicates low risk for the $1.71B company. The 1-year high was reported on Jun, 15 by Barchart.com. If the $5.45 price target is reached, the company will be worth $1.01B more. The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock increased 3.31% or $0.11 on June 14, hitting $3.43. About 6.89M shares traded hands or 51.10% up from the average. Regis Resources Limited (ASX:RRL) has risen 64.11% since November 17, 2015 and is uptrending. It has outperformed by 65.11% the S&P500.
Regis Resources Limited is a gold production and exploration company. The company has a market cap of $1.71 billion. The Firm is engaged in the production of gold from Moolart Well, Garden Well and Resemont gold mines. It has a 20.15 P/E ratio. It is also engaged in the exploration, evaluation and development of gold projects in the Eastern Goldfields of Western Australia.
RRL Price at posting:
$3.58 Sentiment: Hold Disclosure: Held
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