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Pre-Market Technical Pulse on Gold Stocks

May 1, 2017

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Gold is often considered as a safe-haven asset in times of political and economic turmoil. Global political uncertainty is one of the main factors that have driven the demand for gold this year. In today's pre-market research, DailyStockTracker.com scans the most recent performances of the following equities: Richmont Mines Inc. Seabridge Gold Inc. Royal Gold Inc.  and Franco-Nevada Corp. Sign up today on DailyStockTracker.com and download our free research reports on these featured stocks at:
 
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Richmont Mines 

Last Friday, shares in Rouyn-Noranda, Canada headquartered Richmont Mines Inc. ended the session flat at $7.20. The stock recorded a trading volume of 3.74 million shares, which was above its three months average volume of 568,670 shares. The Company's shares have advanced 10.77% on an YTD basis. The stock is trading below its 50-day moving average by 3.07%. Furthermore, shares of Richmont Mines, which engages in the mining, exploration, and development of mining properties in Canada, have a Relative Strength Index (RSI) of 44.80.

On May 29th, 2017, Richmont Mines announced positive results from an Expansion Case Preliminary Economic Assessment completed on the Island Gold Mine in northern Ontario, Canada. The study confirms that the increase in underground mine and mill productivity to 1,100 tonnes per day will support strong production growth of 22% at low industry cash costs and a robust cash flow stream over the eight-year Phase 1 period, with low incremental capital of $28.2 (US$20.9) million required.

Seabridge Gold 

Toronto, Canada-based Seabridge Gold Inc.'s stock finished flat at $9.75. A total volume of 3.00 million shares was traded, which was above their three months average volume of 808,670 shares. The Company's shares have gained 19.63% on an YTD basis. The stock is trading below its 200-day moving average by 6.33%. Moreover, shares of Seabridge Gold, which together with its subsidiaries, engages in the acquisition and exploration of gold properties located in North America, have an RSI of 38.65.

On June 07th, 2017, Seabridge Gold announced that it has completed the acquisition of a 100% interest in the Snowstorm Project from PFR Gold Holdings, L.P. The project consists of 31 square miles of land holdings strategically located at the projected intersection of three of the most important gold trends in Northern Nevada: the Carlin Trend, the Getchell Trend, and the Northern Nevada Rift Zone. 

Royal Gold 

Shares in Denver, Colorado-based Royal Gold Inc. closed the day 0.56% lower at $75.03. The stock recorded a trading volume of 956,828 shares, which was above its three months average volume of 592,940 shares. The Company's shares have gained 15.72% over the previous three months and 18.44% since the start of this year. The stock is trading above its 200-day moving average by 5.72%. Moreover, shares of Royal Gold, which together with its subsidiaries, acquires and manages precious metals royalties, metal streams, and similar interests, have an RSI of 40.00.

On May 31st, 2017, Royal Gold announced that its Board of Directors declared its third quarter dividend of $0.24 per share of common stock. The dividend is payable on July 21st, 2017, to shareholders of record at the close of business on July 07th, 2017.

Franco Nevada 

Toronto, Canada headquartered Franco-Nevada Corp.'s shares recorded a trading volume of 1.12 million shares last Friday, which was above their three months average volume of 717,710 shares. The stock closed 0.06% higher at $71.99. The Company's shares have advanced 11.44% in the previous three months and 20.47% since the start of this year. The stock is trading 2.18% and 9.46% above its 50-day and 200-day moving averages, respectively. Additionally, shares of Franco-Nevada, which operates as a gold-focused royalty and stream company in the US, Canada, Mexico, Peru, Chile, and Africa, have an RSI of 47.81. 

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