Shares of Galileo Mining Ltd (ASX: GAL) have shrugged off recent selling pressure to surge more than 16% higher on Thursday.
At the time of writing, the Galileo Mining share price is trading at $1.55 apiece, as trading volume surges past 2.56 million shares early in the session.
What’s up with the Galileo Mining share price?
Investors have been bidding up Galileo Mining today, continuing the longer-term trend in its share price.
Shares had surged more than 750% to a peak of $1.70 on 27 May before consolidating back to $1.34 by close of trade yesterday.
Most recently, market pundits had rallied Galileo on the back of its latest drill results. The company had intersected the rare and precious rhodium from drilling at the Callisto discovery of the Norseman Project.
Earlier in the month, it had intersected a major discovery of palladium-platinum-copper-nickel-sulphide to the delight of investors.
Also in May, the company earned another vote of confidence when billionaire mining prospector Mark Creasy increased his position by 3 million shares.
The legendary mining investor now has a position of more than 44.37 million shares, according to filings.
Galileo Mining share price snapshot
After a string of recent updates, the Galileo Mining share price has now soared more than 418% in the past 12 months, with a 580% gain this year to date.
The post Galileo Mining share price shrugs off market pressure, soars 16% appeared first on The Motley Fool Australia.
Should you invest $1,000 in Galileo Mining right now?
Before you consider Galileo Mining, you’ll want to hear this.
Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Galileo Mining wasn’t one of them.
The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.
*Returns as of January 13th 2022
More reading
- Why has the Galileo Mining share price shot to the stars in May?
- 3 ASX mining shares soaring by more than 30% on Friday
- Up 700% in 2022, why the Galileo Mining share price is leaping another 36% today
- 3 ASX mining shares going gangbusters on Thursday
- Galileo Mining share price surges another 25% on ‘very important’ drill results
Motley Fool contributor Zach Bristow has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
from The Motley Fool Australia https://ift.tt/kQXeqOB
Leave a Reply