|Bid||74.66 x 800|
|Ask||74.76 x 800|
|Day's Range||74.44 - 75.02|
|52 Week Range||74.44 - 108.29|
|PE Ratio (TTM)||26.77|
|Forward Dividend & Yield||2.00 (2.60%)|
|1y Target Est||N/A|
May.10 -- Randgold Resources CEO Mark Bristow discusses the company's earnings and performance. He speaks on "Bloomberg Daybreak: Europe."
Rioters in southern Mali ransacked local government buildings on Monday following a dispute between workers and management at Randgold's (RRS.L) Loulo and Gounkoto gold mines, the government said. A spokeswoman for Randgold, which owns three gold mines in Mali, did not immediately respond to a request for comment. Workers went on strike at Loulo and Gounkoto in April over bonus payments but the standoff was resolved within a day.
Rioters in southern Mali ransacked local government buildings on Monday following a dispute between workers and management at Randgold's Loulo and Gounkoto gold mines, the government said. A spokeswoman for Randgold, which owns three gold mines in Mali, did not immediately respond to a request for comment. Workers went on strike at Loulo and Gounkoto in April over bonus payments but the standoff was resolved within a day.
Randgold Resources Limited (LSE:RRS), a metals and mining company based in Jersey, had a relatively subdued couple of weeks in terms of changes in share price, which continued to floatRead More...
International mining companies operating in Democratic Republic of Congo will resort to legal action if their concerns over a new mining code signed into law in March are not addressed, they said in a letter to the mines minister this week. The letter, reviewed by Reuters, was dated May 28 and copied to President Joseph Kabila. The companies, including Randgold and Glencore, wrote they had not received a response to 13 separate official correspondences to the government about the code.
Dividends play an important role in compounding returns in the long run and end up forming a sizeable part of investment returns. Randgold Resources Limited (LSE:RRS) has returned to shareholdersRead More...
Most precious metals mining stocks have fallen in the last few months due to falling gold prices. The US dollar’s revival has also affected precious metals and mining stocks recently.
Gold prices dropped to a five-month low of $1,281.80 and closed at $1,283.30 per ounce yesterday, recording a one-day loss of 0.6% and a one-month loss of 3.3%. Silver joined the slump, dropping 0.8% to end the day at $16.30 per ounce, and platinum followed, falling 0.4% to end the day at $874 per ounce. Palladium was the only precious metal to see strength on Monday, rising 0.5% and ending the day at $960.20 per ounce.
Hedge funds increased their net positions in the SPDR Gold Shares ETF (GLD) during the first quarter. Gold miners haven’t kept the pace with broader equities and gold prices. In Can Gold Stocks Catch Up to Broader Equities and Gold Prices? we’ve highlighted what could help these miners catch up.
In this part of the series, we’ll look at the correlation between gold and four mining stocks: Franco-Nevada (FNV), Randgold Resources (GOLD), Yamana Gold (AUY), and Pan American Silver (PAAS). For the most part, mining stocks move in tandem with gold prices. Among these four miners, Pan American Silver demonstrated the highest correlation with gold this year, while Franco-Nevada displayed the lowest correlation.
One of the most crucial factors causing a slump in the price of precious metals is the revival of the US dollar. The DXY, which prices the dollar against a basket of six major world currencies, rose 0.68% on May 15. The DXY gained 3.8% over the last month.
Lower platinum prices are a major concern for platinum miners in Africa. Platinum, like palladium, is used to cut down carbon monoxide emissions and as a catalyst in vehicle engines. It is also used in diesel-based generators. The platinum market has been in short supply for the last few years, and its deficit is expected to expand to a short supply of 275,000 ounces in 2018.
Randgold Resources (RRS.L) reported a 24 percent quarter-on-quarter fall in profit on Thursday after labour strikes at its Tongon mine in Ivory Coast hit production and raised costs. "Industrial relations at Tongon impacted us a little bit more than expected," chief executive Mark Bristow told Reuters. Production in the three months to March fell 16 percent to 286,890 ounces from 340,958 ounces in the fourth quarter on lower output at the Loulo-Gounkoto complex, Tongon and Morila mines.
On a per-share basis, the Channel Islands, Jersey-based company said it had profit of 60 cents. The gold miner posted revenue of $273.3 million in the period. Randgold shares have dropped 17 percent since ...
In this final part of the series, we’ll look at the correlation between gold and four mining stocks: Randgold Resources (GOLD), Yamana Gold (AUY), Coeur Mining (CDE), and Barrick Gold (ABX). Mining stocks generally move with gold prices. Among these four miners, Yamana Gold has shown the highest correlation with gold this year, while Randgold has the lowest correlation on a year-to-date basis.
African gold miner Randgold (RRS.L) has ended a joint venture agreement in Mali with junior explorer Cradle Arc (CRA.L), Cradle Arc said on Wednesday, adding it would seek a new partner. Under the agreement begun in February 2016, Randgold held a 65 percent stake in the Kossanto West Gold Project licences, which will revert to Cradle Arc, now the 100 percent owner. Cradle Arc CEO Kevin van Wouw said Randgold had been "an excellent JV partner" that added to the company's understanding of a project he believed contained a significant amount of gold.
In a recent research report, Macquarie analysts said that they think the “precious metals sector is the best bet within the broad-commodity sector” due to rising inflation pressure and a weaker US dollar. It is forecasting gold prices (GLD) to average $1,356 per ounce in 2018, $1,375 per ounce in 2019, and $1,400 per ounce in 2020. The analysts, however, see prices pushing above the $1,400 per ounce level this year.
Depressed platinum prices are a major concern for platinum miners in Africa. Platinum, like palladium, is used to cut down carbon monoxide emissions and as an autocatalyst in vehicle engines. The platinum market has been in short supply for the last few years.
In this part of our series, we’ll be looking at the correlation between gold and four mining stocks: New Gold (NGD), Newmont Mining (NEM), Franco-Nevada (FNV), and Randgold Resources (GOLD). Mining stocks mostly move with gold prices but not always. Mining stocks have high correlations with gold. The Global X Silver Miners ETF (SIL) and the Sprott Gold Miners (SGDM) also tend to have strong correlations with gold.
Recent market unrest has had a significant effect on precious metals and the US dollar, which influences dollar-denominated precious metals and mining stocks. In this part of the series, we’ll look at miners’ RSI (relative strength index) scores and implied volatility. The miners we’ve selected for our analysis are Wheaton Precious Metals (SLW), Randgold Resources (GOLD), AngloGold Ashanti (AU), and IAMGOLD (IAG). In the last 30 days, miners’ performance has been mixed. GOLD and AU have fallen 2.5% and 0.11%, respectively, while SLW and IAG have risen 6.8% and 13.2%.
Randgold Resources Limited (LSE:RRS) trades with a trailing P/E of 28.1x, which is higher than the industry average of 13.1x. While this makes RRS appear like a stock to avoidRead More...