The stock of Ruffer Investment Co Ltd (LON:RICA) hit a new 52-week high and has GBX 350.76 target or 48.00% above today’s GBX 237.00 share price. The 5 months bullish chart indicates low risk for the GBX company. The 1-year high was reported on Oct, 28 by Barchart.com. If the GBX 350.76 price target is reached, the company will be worth GBX 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 2.43% or GBX 5.62 on October 28, hitting GBX 237. About 652,041 shares traded hands or 330.68% up from the average. Ruffer Investment Co Ltd (LON:RICA) has risen 13.49% since March 31, 2016 and is uptrending. It has outperformed by 8.78% the S&P500.
Ruffer Investment Company Limited is a Guernsey closed-ended investment company. The company has a market cap of GBP. The principal objective of the Company is to achieve a positive total annual return, after all expenses, of at least twice the Bank of England base rate. It currently has negative earnings. The Firm invests in internationally listed or quoted equities or equity related securities, including convertibles, and/or bonds, which are issued by corporate issuers, supra-nationals or government organizations.
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