What’s Next for Geodrill Ltd After Reaching 52-Week High?

 What's Next for Geodrill Ltd After Reaching 52 Week High?

The stock of Geodrill Ltd (TSE:GEO) hit a new 52-week high and has $5.84 target or 128.00% above today’s $2.56 share price. The 8 months bullish chart indicates low risk for the $109.84 million company. The 1-year high was reported on Nov, 14 by Barchart.com. If the $5.84 price target is reached, the company will be worth $140.60 million 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 111,020 shares traded hands or 335.22% up from the average. Geodrill Ltd (TSE:GEO) has risen 179.78% since April 8, 2016 and is uptrending. It has outperformed by 174.79% the S&P500.

Geodrill Ltd (TSE:GEO) Ratings Coverage

Out of 2 analysts covering Geodrill (TSE:GEO), 2 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. $4.25 is the highest target while $0.85 is the lowest. The $3 average target is 17.19% above today’s ($2.56) stock price. Geodrill has been the topic of 3 analyst reports since July 31, 2015 according to StockzIntelligence Inc. TD Securities upgraded the shares of GEO in a report on Thursday, May 12 to “Speculative Buy” rating. As per Thursday, September 22, the company rating was maintained by Paradigm Research.

Geodrill Limited is a drilling company. The company has a market cap of $109.84 million. The Firm is engaged in the provision of exploration and development drilling services to mining companies with exploration, development and production activities in West Africa and the African Copperbelt. It has a 49.91 P/E ratio. The Company’s divisions include Ghana and Outside Ghana.

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