Randgold Resources (RRS) Lifted to Sector Performer at Royal Bank of Canada

Randgold Resources (LON:RRS) was upgraded by Royal Bank of Canada to a “sector performer” rating in a note issued to investors on Wednesday. The brokerage currently has a GBX 5,000 ($65.33) price target on the stock, up from their prior price target of GBX 4,500 ($58.80). Royal Bank of Canada’s price objective suggests a potential downside of 22.07% from the company’s current price.

Other research analysts have also recently issued research reports about the company. Numis Securities cut Randgold Resources to a “hold” rating and dropped their price target for the company from GBX 8,000 ($104.53) to GBX 6,000 ($78.40) in a research report on Friday, August 10th. BMO Capital Markets reaffirmed an “outperform” rating and set a GBX 7,000 ($91.47) price target on shares of Randgold Resources in a research report on Thursday, August 9th. UBS Group reissued a “buy” rating and set a GBX 6,000 ($78.40) price objective on shares of Randgold Resources in a report on Tuesday, September 25th. Barclays decreased their target price on Randgold Resources from GBX 7,000 ($91.47) to GBX 6,350 ($82.97) and set an “overweight” rating on the stock in a research note on Wednesday, July 18th. Finally, Jefferies Financial Group restated a “buy” rating and issued a GBX 7,000 ($91.47) target price (down from GBX 9,000 ($117.60)) on shares of Randgold Resources in a research note on Wednesday, October 17th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of GBX 6,926.92 ($90.51).

RRS stock opened at GBX 6,416 ($83.84) on Wednesday. Randgold Resources has a 1-year low of GBX 5,760 ($75.26) and a 1-year high of GBX 8,255 ($107.87).

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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