Interesting article but SP seems to be going the wrong way at the moment: http://seekingalpha.com/article/1331861-randgold-resources-strong-earnings-low-debt-and-a-121-00-price-target?source=nasdaq
Hi New Kid, I think you are spot on, my indecision as to whether to sell and hopefully buy back at a lower price sees me losing more on this share as the gold price falls. This article see Url: http://www.dailymirror.lk/business/other/27668-banks-cut-gold-exposure-on-possible-price-crash-.html makes me even more nervous and my thinking that I missed th boat and should have followed my gut feeling and bailed out before now; alas I can see why SP is falling but is it being over done?.
Since this share seems to reflect the movements in the Gold Price I happened to find this site which I bookmarked to have latest info at hand: http://goldnews.bullionvault.com/gold_price_news?__utma=1.2076464834.1364549969.1364549969.1364549969.1&__utmb=1.1.10.1364549969&__utmc=1&__utmx=-&__utmz=1.1364549969.1.1.utmcsr=google|utmccn=%28organic%29|utmcmd=organic|utmctr=%28not%20provided%29&__utmv=-&__utmk=10252213
Unfortunately this share at present appears to struggle to stay above 57.00 as if there is a backlog of holders looking for the door at or around that price. Let us hope that it breaks out above that level.
Good Post from Maltman thanks - I missed that article. I did note however that yesterday, as well as the Citigroup’s recommending a sell that got all the publicity at the same time Liberum Capital rated RRS a BUY - I was worried they may have downgraded RRS to a Hold. Surely the SP will bounce upwards following the fantastic results and so far the possible sabotage to foreign interests in Mali has not materialized. I am into RRS big time having increased my holding on Friday, I thought that the stock price was unbelievable and offered an opportunity too good to miss for when this rebounds it could be dramatic.
Citigroup recommends selling RRS due to falling gold and silver prices, fuelling a selloff among precious metals miners. It cuts its price targets to 5540 pence from 6600 pence for Randgold. Could bounce soon and not reach 5540 IMO so I repurchased the shares I sold Monday as a speculative punt!
CNBC article published today is food for thought - see the article at url: http://www.cnbc.com/id/100379021/Miners_in_Mali_Dodge_Conflict_Risks_039Manageable039_for_Now
What a difference since the results. RTT News reported on 5th Feb that RRS reached a 1 month high following the results see url: http://www.rttnews.com/2049886/randgold-resources-gold-rose-to-a-1-month-high-on-q4-results.aspx and today RTT News report that RRS have dropped to a 6 month low see url: http://www.rttnews.com/2054704/randgold-resources-ltd-gold-has-dropped-to-a-6-month-low.aspx - no wonder the share is dropping like a brick.; I thought the results would see the SP surge upwards but alas the SP is suffering because of the two (so far) suicide bombings in my opinion. On reflection I wonder if I should have sold all my holding in RRS this morning
I think that many investors do think that the war does bring with it the real risk of sabotage to the mine. The minister emphasizes that the fighting is far away but the suicide bomber last Friday demonstrates how difficult the situation is. I decided over the weekend that it is prudent to reduce my holdings in RRS until a much clearer scenario is established. This is just my current over-all view of the situation. Anyone else have a view as to which way the SP is likely to go?
The trading statement has been so well received, although I am sitting on a healthy profit I do not think this is the time to sell, I can see this heading towards the 70's given time and once everything has been digested. What do others think?
NKOTB - As I read both articles the HOLD recommendation was based on a visit the Tongon Mine in the Ivory Coast and the BUY recommendation was based on her visit to Loulo and Gounkoto Mine.in Mali. Looks a nice person albeit I have grand children older than her. Her reply is likely to be after the figures are released unless she works on a Sunday.
NKOTB - thanks for your most informative posts - please see the url http://www.brokerforecasts.com/news/article/articleId/4531293 which is an encouraging change of heart following the site visit by Kate Craig of Liberum Capital. who on Friday Feb 1st at 14.18hrs have obviously had a change of mind prior to release of RRS trading update on Monday since they have now upgraded their recommendation on Randgold Resources to ‘buy’ from ‘hold’ following a recent visit to the company's Loulo ∕ Gounkoto site. I remain of the opinion that SP is more likely to rise than fall when the latest news is made known.
Apologies NKOTB - I reckon the info on your site is correct for my broker (First Direct) is also showing the transactions as NT! BTW, thought this opinion on the NASDAQ site is encouraging, namely: Randgold Resources Limited ( GOLD ) is reporting for the quarter ending December 31, 2012. The gold mining company's consensus earnings per share forecast from the 1 analyst that follows the stock is $1.59. This value represents a 27.20% increase compared to the same quarter last year. Zacks Investment Research reports that the 2012 Price to Earnings ratio for GOLD is 19.45 vs. an industry ratio of -6.50, implying that they will have a higher earnings growth than their competitors in the same industry. Personally, I am quietly confident that this share is likely to move upwards after the results are known.
NKOTB - They are ALL Ordinary Deletions not Shorters - put your mouse over the icon end of each transaction. There will be a lot of people with egg of their face if the results are not up to expectations on Monday!
NKOTB - read this url on Randgold's website, http://www.randgoldresources.com/randgold/content/en/randgold-news?oid=48367&sn=Detail&pid=27353 It is surprising this shares has not started to rise towards the 70's - loads of pundits suggesting it is a buy!
See my previous post Mon 15.40 the Management do not appear to be at all worried - at the current price surely this share is in buying territory with several pundits rating it a buy at current price
BUSINESS AS USUAL AT RANDGOLD'S MALI MINES Bamako, Mali, 14 January 2013 - Randgold Resources said today its Loulo-Gounkoto gold mining complex as well as its Morila joint venture were operating normally following the declaration of a state of emergency in Mali over the weekend as French forces joined the Malian army in quelling rebels in the north of the country. The Randgold operations are in safe areas some 700 kilometres distant from conflict zones and have not been affected by any of the issues that have afflicted Mali over the last ten months, including the recent attacks by rebels in the north of the country. Chief executive Mark Bristow said the company was nevertheless monitoring the situation closely and had put contingency plans in place to ensure that it could continue to contribute to the economy of Mali, while protecting Randgold's people and property. Should the current military build-up impact on logistics, both operations are well-stocked with fuel and other consumables.
RRS Stock Rating Reaffirmed by RBC Capital http://www.jagsreport.com/2013/01/randgold-resources-ltd-stock-rating-reaffirmed-by-rbc-capital-rrs/
Wednesday 9th Jan 2013 Broker Round-Up UPDATE Randgold Resources: Deutsche Bank lowers target price from 8140p to 7570p maintaining its buy recommendation.
Because the share price continues to drift downwards at the moment, I just wonder if a substantial shareholder is reducing their holding to minimize their exposure. Anyone else got an opinion as to why this is going down and what action, event or information is necessary to turn it around?