Randgold stock took a battering on Thursday morning after the United Kingdom based miner posted an 8% profit drop for Q2. Basing the rating on a simplified scale where 1 represents a Buy and 5 represents a Sell, this is the average rating based on the 5 firms polled by Zacks Research. The company now has an average rating of “Hold” and an average price target of GBX 6,120.60 ($80.82). The mean price target of all analysts taken into consideration by Zacks is $106.728.
Advertisement
At the end of its second quarter, Randgold’s net cash reached $273 million and cash reserves should rise to $500 million by the end of the year, Chief Executive Mark Bristow said. So far this year Randgold has extracted 573,000 oz.
The advanced targets include Fonondara and Kassere on the Boundiali permit in northern Côte d’Ivoire and Sofia in Senegal, which Randgold said looks likely to provide a high grade, free-leaching satellite resource for the feasibility study-stage Massawa project.
Compared to analyst expectations just before the announcement, the actual results were $0.01 away from that number, or a surprise factor of 1.79%. Out of these projections, the most bullish has the stock at $154.14 while the most bearish sees the stock at $79.5 within the next year.
Randgold Resources Ltd has 93,513,000 shares which are now outstanding with shareholders and have a price of 8635 bringing Randgold Resources Ltd’s market capitalisation to 8.07B GBP. “The only danger is Morila”, he said, referring to the Mali mine the company is closing. The Company’s Gounkoto is located approximately 25 kilometers south of Loulo’s plant. The Company has a controlling interest in the Gounkoto mine through Societe des Mines de Gounkoto SA (Gounkoto). The Company holds a controlling interest in the Loulo mine, located in Mali.
This Little Known Stocks Could Turn Every $10,000 into $42,749! The stock traded down to $118.46 during the day, due to lack of any buying support eventually closed down at $118.88 with a loss of -0.79% for the day.
Advertisement
You could be making up to 199% on a single trade in only 14 days.
