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Citigroup Inc. stock traded at $60.19 during the opening bell of the session on Tuesday, changing hands between the range of %59.78 to $60.71 and hit $60.50 at the close of trade. The stock posted gains of 0.36% in total of its share price, with its 52-week settling between $38.31 - $61.94.  

One of the world’s leading mining companies Randgold Resources Limited has labeled Citi as a successor depository bank for its American Depository Receipt (ADR) programme, which trades on the NASDAQ under the symbol “GOLD”.

Subsequently, each ordinary share corresponds to 1 ADR. Randgold’s underlying ordinary shares are listed on the London Stock Exchange under the symbol “RRS”.       

“Citi is delighted to be designated by Randgold Resources as successor depositary bank for its ADR programme,” Citi’s Global Head of Issuer Services Dirk Jones. “We look forward to working closely with Randgold leveraging our global equity distribution network and providing best-in-class service to the company’s existing ADR holders.”    

The bank’s stock is currently priced at -2.32% down from its 52-week high and +59.47% from its 52-week low. Meanwhile, market participants are expecting that the stock’s value will settle at 1.15%, marking a monthly performance of 4.74%.      

Citigroup Inc. Stock

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Shares of Citigroup Inc. gained 1.01% to settle at $61.11 during the course of the trading session. The total of shares traded reached around 30.72 million shares, while the average trading volume stood at 19.37 million shares.

The stock hit a weekly volatility of 1.73%, and a monthly volatility of 1.61%. Based on the most recent quarter period, the Price to book (P/B) ration settled at 0.84, while the Price to cash per share ration hit 0.27.      

Meanwhile, the stock’s beta is valued at 1.65, which indicate that a beta less than 1 suggests a less volatile security than the market. On the other hand, a beta that is greater than 1 suggests that the security’s price is expected to become more volatile than the market.   

The company’s Return on Assets (ROA) reached 0.80%, while its Return on Equity (ROE) stood at 6.50% and Return on Investment (ROI) posted 8.20%.

The chart below illustrates Citigroup Inc. stock’s movement after Randgold Resources Limited has labeled Citi as a successor depository bank for its American Depository Receipt (ADR) programme.

The stock is currently trading at $61.56 in a light trading volume of 515, near resistance 62.52. Hence, given a bullish tone on the company’s stock, the RSI suggests that the overbought level hasn’t been reached. Thus, it could signal the stock to further rally unless the stock showed declines.

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Conclusion

As the stock continued to further rally with Randgold Resources Limited has labeled Citi as a successor depository bank for its American Depository Receipt (ADR) programme, investors are expected to closely watch and open buy positions before it could reached its peak level.

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