Royal Mail Share Price Continues to Rise

It was another good day for Royal Mail shares (RMG) on Thursday. The shares opened at 466.50p and before lunch rose to 472.70p.

However, they did fall in the afternoon and ended up closing the day at 468.60p up 0.49% for the day. This means that the shares are now up 3.1% for the week and 16.6% for the month.

Royal Mails shares have been performing well all month and they were given a boost when Goldman Sachs issued a ‘Buy’ recommendation last week. Nonetheless there are many brokers that are less confident about the shares, for instance Cantor Fitzgerald has issued a ‘Sell’ recommendation while Credit Suisse assessed them as ‘Underperform’.

Investors also seem to be fairly sceptical about the shares. On Thursday 64.08% of Royal Mail shares that were traded were sold while just 35.92% were bought.