BMO Capital Upgrades Randgold Resources Ltd. (GOLD) to Outperform
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BMO Capital upgraded Randgold Resources Ltd. (NASDAQ: GOLD) from Market Perform to Outperform with a £92.50 price target.
Analyst Andrew Breichmanas commented, "We are upgrading our rating on shares of Randgold Resources to Outperform. The stock has underperformed year-to-date, but warrants a premium owing to the quality of its assets, the strength of its balance sheet, and the track-record of management. With an attractive valuation relative to historical multiples and peers, operational improvements forecast, and near-term catalysts anticipated, the stock currently appears to provide a compelling investment opportunity."
Shares of Randgold Resources Ltd. closed at $83.71 yesterday.
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