Randgold Resources (NASDAQ: GOLD) was downgraded by equities research analysts at JPMorgan Chase & Co. (NYSE: JPM) from an “overweight” rating to a “neutral” rating in a research note issued to investors on Thursday.
Separately, analysts at BMO Capital Markets downgraded shares of Randgold Resources from an “outperform” rating to a “market perform” rating in a research note to investors on Thursday, November 3rd.
Randgold Resources Ltd. is engaged in gold mining, exploration and related activities. The Company’s activities are focused on West and Central Africa. In Mali, it has an 80% controlling interest in the Loulo mine through Societe des Mines de Loulo S.A. (Somilo). The Loulo mine is mining from two open pits and one underground mine, and is developing a further underground mine. The Company also owns 50% of Morila Limited, which in turn owns 80% of Morila SA, the owner of the Morila mine in Mali. In addition, it owns an effective 89% controlling interest in the development-stage Tongon project located in Cote d’Ivoire. The Company owns an effective 83.25% controlling interest in the Massawa project in Senegal, where it completed a scoping study in March 2009. It also has exploration permits and licenses covering substantial areas in Cote d’Ivoire, Burkina Faso, DRC, Mali and Senegal. On October 15, 2009, the Company completed the acquisition of 50% of Moto Goldmines Limited.
Shares of Randgold Resources opened at 110.82 on Thursday. Randgold Resources has a 52 week low of $70.18 and a 52 week high of $120.73. The stock’s 50-day moving average is $106.1 and its 200-day moving average is $103.8. The company has a market cap of $10.145 billion and a P/E ratio of 35.70.