The stock of Randgold Resources Limited (LON:RRS) gapped up by GBX 155 today and has GBX 9405.82 target or 29.00% above today’s GBX 7291.33 share price. The 8 months technical chart setup indicates low risk for the GBX 6.84B company. The gap was reported on Nov, 9 by Barchart.com. If the GBX 9405.82 price target is reached, the company will be worth GBX 1.98 billion more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. The stock increased 7.62% or GBX 516.33 on November 9, hitting GBX 7291.33. About 2.14M shares traded hands or 203.93% up from the average. Randgold Resources Limited (LON:RRS) has risen 3.72% since April 12, 2016 and is uptrending. It has underperformed by 1.07% the S&P500.
Randgold Resources Limited (LON:RRS) Ratings Coverage
Out of 22 analysts covering Randgold Resources Ltd (LON:RRS), 14 rate it a “Buy”, 3 “Sell”, while 5 “Hold”. This means 64% are positive. GBX 12000 is the highest target while GBX 3650 is the lowest. The GBX 7113.64 average target is -2.44% below today’s (GBX 7291.33) stock price. Randgold Resources Ltd has been the topic of 156 analyst reports since July 22, 2015 according to StockzIntelligence Inc. On Friday, February 12 the stock rating was maintained by Barclays Capital with “Overweight”. As per Thursday, May 5, the company rating was maintained by Jefferies. The rating was maintained by JP Morgan on Monday, August 15 with “Neutral”. The stock of Randgold Resources Limited (LON:RRS) has “Overwt/In-Line” rating given on Monday, December 21 by Morgan Stanley. The stock of Randgold Resources Limited (LON:RRS) has “Buy” rating given on Tuesday, October 20 by Deutsche Bank. Panmure Gordon downgraded it to “Hold” rating and GBX 6750 target price in Thursday, August 4 report. UBS maintained Randgold Resources Limited (LON:RRS) on Tuesday, February 2 with “Buy” rating. Credit Suisse maintained Randgold Resources Limited (LON:RRS) rating on Monday, July 18. Credit Suisse has “Neutral” rating and GBX 8600 price target. The firm has “Buy” rating given on Wednesday, December 16 by Deutsche Bank. The rating was maintained by Credit Suisse on Wednesday, February 10 with “Neutral”.
Another recent and important Randgold Resources Limited (LON:RRS) news was published by Marketwired.com which published an article titled: “Randgold Resources Limited: 3rd Quarter Results and updates” on November 03, 2016.
Randgold Resources Limited is engaged in the gold mining, exploration and related activities. The company has a market cap of 6.84 billion GBP. The Company’s activities are focused on West and Central Africa. It has a 39.88 P/E ratio. The Firm operates through the gold mining segment.
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