by Sam Collins | August 28, 2013 1:24 am
Royal Gold (RGLD) — This Colorado-based company acquires and manages precious metals royalties and seeks to finance projects in or near production in exchange for royalties.
On Aug. 8, RGLD reported fiscal fourth quarter and full-year 2013 results. Net income for FY 2013 was down 25% from FY 2012 to $69.2 million, and earnings per share came in at $1.09 versus $1.61 in FY 2012. Zacks has a “strong sell” rating on the shares.
The stock has recently risen as a result of an uptick in the price of gold and the crisis in the Middle East.
At overbought levels, RGLD reversed Tuesday to close below its 200-day moving average on a strong sell signal from our internal indicator, the Collins Bollinger Reversal (CBR). MACD is also weak.
Sell RGLD short at the market with a downside objective of under $55.
Source URL: http://investorplace.com/2013/08/trade-of-the-day-royal-gold-rgld/
Short URL: http://invstplc.com/1bamBjX