Credit Suisse Downgrades Randgold Resources Ltd. (GOLD) to Neutral

January 31, 2017 6:29 AM EST
Get Alerts GOLD Hot Sheet
Price: $15.87 +3.39%

Rating Summary:
    14 Buy, 10 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 5 | Down: 14 | New: 17
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Credit Suisse downgraded Randgold Resources Ltd. (NASDAQ: GOLD) from Outperform to Neutral.

Analyst Conor Rowley comments "Randgold had a challenging operational 2016 due to commissioning issues at Kibali and Tongon. While we do forecast a strong Q4, in our view the company will miss 2016 guidance on volumes and costs. In 2017 we forecast greater operational stability; however, we do not expect any other material catalysts over the medium term. In our view Randgold is pricing in a gold price towards $1,300/oz and therefore we downgrade the shares to Neutral in light of headwinds to the gold price. A key positive is the company's growing cash balance that could result in higher shareholder cash returns; however we do not see the potential for that until this time next year."

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 $82.16 yesterday.

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