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Upgrade Alert for Randgold Resources (GOLD)

By Amy Schwartz

Randgold Resources (NASDAQ:GOLD) was upgraded from Hold to Buy at Jefferies today. The stock closed yesterday at $118.90 on volume of 1.1 million shares, above average daily volume of 904,000.

Randgold Resources (NASDAQ:GOLD) is currently priced 32.9% above its average consensus analyst price target of $79.78. Randgold Resources shares have support at the 50-day moving average (MA) of $91.88 and additional support at the 200-day MA of $71.57.

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

In the past 52 weeks, Randgold Resources share prices have been bracketed by a low of $54.88 and a high of $126.55 and closed yesterday at $118.90, 117% above that low price. Over the past week, 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 31.5%. 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