Goldman Sachs Upgrades Randgold Resources Ltd. (GOLD); High Quality Gold Equities to Be Rewarded
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Price: $70.23 -3.28%
Rating Summary:
7 Buy, 4 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
Rating Summary:
7 Buy, 4 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
Trade GOLD Now!
Goldman Sachs upgraded Randgold Resources Ltd. (NASDAQ: GOLD) from Sell to Neutral. PT raised to 6300p from 5700p. (up to approx $98 U.S.)
Analyst, Eugene King, removes the stock from the Pan-Europe sell list, and bumps the stock up after its recent underperformance. Since King added shares to the sell list on Dec 19, the stock has fallen 9.4%. However, over the past 12 months, shares have gained 23.9%.
King said, "We consider Randgold to have a superior industry positioning when compared to its peers, with strong growth from the Loulo/Gounkoto complex and the Kibali asset in the DRC. The low cost of acquisition of the resource (being primarily from exploration) and the low-cost position lead to top-quartile CROCI returns relative to our gold coverage and our broader mining coverage."
Goldman lowers FY12 EPS estimate from $5.93 to $5.88, FY13 from $5.32 to $5.01 and FY14 from $5.33 to $5.27.
For an analyst ratings summary and ratings history on Randgold Resources Ltd. click here. For more ratings news on Randgold Resources Ltd. click here.
Shares of Randgold Resources Ltd. closed at $91.99 yesterday, with a 52 week range of $72.91-$120.73.
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Analyst, Eugene King, removes the stock from the Pan-Europe sell list, and bumps the stock up after its recent underperformance. Since King added shares to the sell list on Dec 19, the stock has fallen 9.4%. However, over the past 12 months, shares have gained 23.9%.
King said, "We consider Randgold to have a superior industry positioning when compared to its peers, with strong growth from the Loulo/Gounkoto complex and the Kibali asset in the DRC. The low cost of acquisition of the resource (being primarily from exploration) and the low-cost position lead to top-quartile CROCI returns relative to our gold coverage and our broader mining coverage."
Goldman lowers FY12 EPS estimate from $5.93 to $5.88, FY13 from $5.32 to $5.01 and FY14 from $5.33 to $5.27.
For an analyst ratings summary and ratings history on Randgold Resources Ltd. click here. For more ratings news on Randgold Resources Ltd. click here.
Shares of Randgold Resources Ltd. closed at $91.99 yesterday, with a 52 week range of $72.91-$120.73.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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