Market Overview

UPDATE: Morgan Stanley Upgrades Randgold Resources

Related GOLD
Bear of the Day: Randgold (GOLD) - Bear of the Day
Morning Market Losers
Signs of the Times: 'We Buy Gold' (Fox Business)

Morgan Stanley has published a research report on Randgold Resources (NASDAQ: GOLD) and has upgraded the company from Equal-weight to Overweight.

In the report, Morgan Stanley wrote, "As operational risks from the Loulo mine recede, we believe the investment case will increasingly reflect Randgold's ability to deliver profitable volume growth, cuts in cash costs, and sizeable resource additions to its portfolio. In a sector that continues to struggle to realize meaningful volume growth (1.3% volume CAGR 2005-11), Randgold is among the few miners we see as able to deliver profitable growth – 2012-15 volume CAGR of 15% – and has a portfolio that presents opportunities for positive surprises, above and beyond current projections."

Randgold Resources is currently trading up 0.36 percent form Monday's $120.75 closing price.

Latest Ratings for GOLD

DateFirmActionFromTo
Jul 2014HSBCDowngradesNeutralUnderweight
Mar 2014NomuraUpgradesNeutralBuy
Feb 2014UBSInitiates Coverage on

View More Analyst Ratings for GOLD
View the Latest Analyst Ratings

Posted-In: Morgan StanleyAnalyst Color Upgrades Analyst Ratings

 

Related Articles (GOLD)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters