The stock of NewCastle Gold Ltd (CVE:NCA) hit a new 52-week high and has $3.43 target or 188.00% above today’s $1.19 share price. The 6 months bullish chart indicates low risk for the $203.42 million company. The 1-year high was reported on Sep, 13 by Barchart.com. If the $3.43 price target is reached, the company will be worth $382.43M 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. About 510,345 shares traded hands. NewCastle Gold Ltd (CVE:NCA) has risen 6.00% since August 14, 2016 and is uptrending. It has underperformed by 10.49% the S&P500.
Out of 2 analysts covering Newcastle Gold Ltd (CVE:NCA), 2 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Newcastle Gold Ltd has been the topic of 3 analyst reports since December 9, 2015 according to StockzIntelligence Inc.
NewCastle Gold Ltd., formerly Castle Mountain Mining Company Limited, is an exploration gold company. The company has a market cap of $203.42 million. The Company, through its subsidiaries, including Castle Mountain Venture, focuses on the exploration and development of gold deposits in its Permitted Castle Mountain Gold Project, which is in San Bernardino County, California, approximately 70 miles south of Las Vegas, Nevada. It currently has negative earnings. The Castle Mountain Property consists of patented lode claims, unpatented lode and millsite claims, and placer claims for an aggregate total of over 7,460 acres.
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