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Wednesday, November 25, 2020

GAMCO Global Gold Natural Resources & Income Trust (NYSE:GGN) on the Path to Ruin

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GAMCO Global Gold Natural Resources & Income Trust (GGN) shares are trading at lower $3.62.

To add more color to this target, the company’s high over the last year is $4.54 and the low is $1.98. Over the last 52 weeks, GGN is down -20.26% while the S&P 500 is down 0.00%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. GGN has a short ratio of 0.10 and outstanding shares of 165.32M.

Company Outlook

GGN has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 1.45 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at 0.66. Investors should also keep an eye on sector updates as GGN has historically followed its peers on positive news.

All told, GAMCO Global Gold Natural Resources & Income Trust GGN has strung together solid data and demonstrated underlying fundamentals. At its current valuation, GGN represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

GAMCO Global Gold Natural Resources & Income Trust GGN is now commanding a market cap of 598.45M. GGN is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of GGN stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in GGN, either long or short, and we have not been compensated for this article.

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