The stock of Randgold Resources Limited (LON:RRS) gapped up by GBX 155 today and has GBX 9961.50 target or 45.00% above today’s GBX 6870.00 share price. The 6 months technical chart setup indicates low risk for the GBX 6.45 billion company. The gap was reported on Nov, 10 by Barchart.com. If the GBX 9961.50 price target is reached, the company will be worth GBX 2.90 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 decreased 3.44% or GBX 245 on November 10, hitting GBX 6870. About 1.90 million shares traded hands or 165.90% up from the average. Randgold Resources Limited (LON:RRS) has declined 5.76% since April 13, 2016 and is downtrending. It has underperformed by 11.41% 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. Randgold Resources Ltd has been the topic of 158 analyst reports since July 22, 2015 according to StockzIntelligence Inc. The stock of Randgold Resources Limited (LON:RRS) has “Hold” rating given on Thursday, August 4 by Canaccord Genuity. Credit Suisse maintained it with “Neutral” rating and GBX 3900 target price in Friday, January 29 report. The rating was maintained by UBS with “Buy” on Friday, November 6. The stock has “Reduce” rating given by Nomura on Thursday, February 18. RBC Capital Markets upgraded the stock to “Outperform” rating in Monday, August 24 report. Jefferies maintained Randgold Resources Limited (LON:RRS) on Friday, November 6 with “Hold” rating. Morgan Stanley maintained the shares of RRS in a report on Thursday, September 17 with “Overwt/In-Line” rating. Credit Suisse maintained it with “Neutral” rating and GBX 5050 target price in Thursday, July 23 report. The stock of Randgold Resources Limited (LON:RRS) earned “Neutral” rating by Credit Suisse on Monday, August 10. Panmure Gordon maintained the shares of RRS in a report on Friday, November 6 with “Hold” rating.
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 6.45 billion GBP. The Company’s activities are focused on West and Central Africa. It has a 37.57 P/E ratio. The Firm operates through the gold mining segment.
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