The stock of Royal Canadian Mint (TSE:MNT) gapped up by $0.04 today and has $26.18 target or 40.00% above today’s $18.70 share price. The 7 months technical chart setup indicates low risk for the $539.03M company. The gap was reported on Nov, 4 by Barchart.com. If the $26.18 price target is reached, the company will be worth $215.61M more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 75,266 shares traded hands or 487.83% up from the average. Royal Canadian Mint (TSE:MNT) has risen 9.82% since March 31, 2016 and is uptrending. It has outperformed by 8.73% the S&P500.
More notable recent Royal Canadian Mint (TSE:MNT) news were published by: Cbc.ca which released: “Royal Canadian Mint unveils its 2017 Canada 150 circulation coin series” on November 02, 2016, also Washingtonpost.com with their article: “Royal Canadian Mint employee allegedly smuggled $140000 worth of gold in his butt” published on September 21, 2016, Cbc.ca published: “Royal Canadian Mint issues collector coin for royal visit” on September 27, 2016. More interesting news about Royal Canadian Mint (TSE:MNT) were released by: Wsj.com and their article: “MintChip Digital Currency Sold to NanoPay by Royal Canadian Mint” published on January 12, 2016 as well as Cbc.ca‘s news article titled: “MintChip launch Tuesday brings Canadian-made digital cash to consumers” with publication date: June 21, 2016.
The Royal Canadian Mint is an agent company. The company has a market cap of $539.03 million. The Firm is engaged in producing various circulation coins used in Canada and manages the support distribution system for the Government of Canada. It currently has negative earnings. The Firm is the producer of circulation, collector and bullion investment coins for the domestic and international marketplace.
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