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Upgrade Alert for Randgold Resources (GOLD)

By James Quinn

Randgold Resources (NASDAQ:GOLD) was upgraded from Neutral to Buy at Goldman Sachs today. The stock closed yesterday at $101.17 on volume of 1.7 million shares, above average daily volume of 904,000.

Randgold Resources Limited is a gold mining and exploration company. The Company conducts gold mining operations in regions throughout the gold regions of Africa.

Randgold Resources (NASDAQ:GOLD) defies analysts with a current price ($101.17) 21.1% above its average consensus price target of $79.78. The stock should find initial support at its 50-day moving average (MA) of $91.88 and further support at its 200-day MA of $71.57.

In the past 52 weeks, Randgold Resources share prices have been bracketed by a low of $54.88 and a high of $105.58 and closed yesterday at $101.17, 84% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.9% while the 50-day MA has remained constant.

SmarTrend recommended that subscribers consider buying shares of Randgold Resources on June 6th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $91.46. Since that recommendation, shares of Randgold Resources have risen 10.6%. We continue to monitor GOLD for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: analyst upgrades/downgrades Randgold Resources

Ticker(s): GOLD