Market Overview

Bank of America Reiterates Buy Rating, $137.36 PT on Randgold Resources

Share:
Related GOLD
Benzinga's Top Upgrades
Benzinga's Top Initiations
Reasons For A Further Appreciation Of The Gold Price (Seeking Alpha)

In a report published Monday, Bank of America reiterated its Buy rating and $137.36 price target on Randgold Resources (NASDAQ: GOLD).

Bank of America noted, “Randgold is a mid-cap pure gold play with output forecast to increase by around 25% to over 1Mozpa by 2014. Randgold has outperformed its peer group through exploration success and, as a result, has delivered superior reserve growth on a per share basis. Operationally, there have been a few setbacks at the Loulo underground and Tongon in recent years, but we believe the group is now well placed to deliver on its growth targets going forward.”

Randgold Resources closed on Friday at $95.65.

Latest Ratings for GOLD

DateFirmActionFromTo
Sep 2016UBSUpgradesNeutralBuy
Sep 2016BerenbergInitiates Coverage onHold
Aug 2016JP MorganMaintainsNeutral

View More Analyst Ratings for GOLD
View the Latest Analyst Ratings

Posted-In: Bank of AmericaAnalyst Color Reiteration Analyst Ratings

 

Related Articles (GOLD)

View Comments and Join the Discussion!