Numis Securities Downgrades Randgold Resources (RRS) to Hold

Randgold Resources (LON:RRS) was downgraded by research analysts at Numis Securities to a “hold” rating in a research note issued on Friday. They presently have a GBX 6,000 ($77.67) price objective on the stock, down from their prior price objective of GBX 8,000 ($103.56). Numis Securities’ price objective suggests a potential upside of 11.03% from the stock’s current price.

RRS has been the topic of several other research reports. Barclays cut their target price on Randgold Resources from GBX 7,000 ($90.61) to GBX 6,350 ($82.20) and set an “overweight” rating on the stock in a research note on Wednesday, July 18th. Royal Bank of Canada reaffirmed an “underperform” rating on shares of Randgold Resources in a research report on Wednesday, July 11th. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Randgold Resources in a research report on Friday, May 11th. Citigroup reaffirmed a “buy” rating on shares of Randgold Resources in a research report on Friday, May 11th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Randgold Resources in a research report on Friday, June 29th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of GBX 7,211.54 ($93.35).

Randgold Resources opened at GBX 5,404 ($69.95) on Friday, Marketbeat Ratings reports. Randgold Resources has a 1-year low of GBX 5,760 ($74.56) and a 1-year high of GBX 8,255 ($106.86).

About Randgold Resources

Randgold Resources Limited is engaged in gold mining, exploration and related activities. The Company’s activities are focused on West and Central Africa. The Company operates through the gold mining segment. The Company operates various mines, such as Morila, Loulo, Gounkoto, Tongon and Kibali. The Company is exploring in African countries, such as Mali, Senegal, Cote d’Ivoire and the Democratic Republic of Congo (DRC).

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