Market Overview

UPDATE: Bank of America Downgrades Randgold Resources to Neutral on Weak Q3

Share:
Related GOLD
Jim Cramer Gives His Opinion On Chicago Bridge & Iron, Newmont Mining And Coca-Cola
Pair Trade? RBC Upgrades Randgold Resources, Downgrades Kinross Gold

Bank of America lowered its rating on Randgold Resources (NASDAQ: GOLD) from Buy to Neutral.

Bank of America commented, "Post a disappointing Q3, we lower FY2012E EPS -27%, to US$4.39/sh. We also take a more conservative view on 2013E production / earnings ramp-up. 2013E EPS -16%, to US$6.30/sh. NPV down to GBp4442. Randgold is a premium stock with a long history of creating value for shareholders. However, in our view, after a near 70% rally from the May lows to their recent peak, shares are priced for perfect execution and won't outperform while consensus estimates are downgraded. We also contemplate headline risk related to DRC mining code revisions and unrest in Mali."

Randgold Resources closed at $115.67 on Wednesday.

Latest Ratings for GOLD

DateFirmActionFromTo
Aug 2015RBC CapitalUpgradesSector PerformOutperform
Aug 2015NumisUpgradesAddBuy
Jul 2015CitigroupUpgradesNeutralBuy

View More Analyst Ratings for GOLD
View the Latest Analyst Ratings

Posted-In: Bank of AmericaAnalyst Color Downgrades Intraday Update Analyst Ratings

 

Related Articles (GOLD)

View Comments and Join the Discussion!

Get Benzinga's Newsletters