Randgold Resources Share Discussion Threads

[blueball] 10/1/2017 17:18

Should be £70 by now and gold @ 1200.

[professor pettigrew] 10/1/2017 15:15

Really lagging now. Gold $1189 ask £67.

[professor pettigrew] 10/1/2017 14:55

Always a laggard. If gold is around $1192 at our close, RRS should correlate to £68.

[wisteria2] 10/1/2017 14:52

Cey up 1.5 percent rrs lagging .8 percent!!

[professor pettigrew] 10/1/2017 14:45

RRS lagging again. At the now $1190 should be around £67.85.

[wisteria2] 10/1/2017 14:44

Luvly jubly, Copper on the up as well!

[professor pettigrew] 10/1/2017 14:42

Afternoon phil - Sharps Pixley London quoting $1189.05.

There is resistance at $1200 though so anyone trading should be aware. $1200 should give us a £70 share price here.

[professor pettigrew] 10/1/2017 14:40

Spot gold approaching $1190.

[philanderer] 10/1/2017 14:34

Afternoon PP... that $1200 is in sight - with a good pair of binoculars ;-)

[professor pettigrew] 10/1/2017 14:30

Thanks for that phil.

[professor pettigrew] 10/1/2017 14:27

Gold looking like it wants to move higher once again. If we breach $1186 spot by 4.30pm, RRS should close around £t7.15.

[philanderer] 10/1/2017 14:01

Gold and Randgold still long-term buys says Jefferies


13:07 10 Jan 2017

Jefferies has lowered its forecast for the gold price already but expects a steady recovery through 2017

Gold has suffered recently but US broker Jefferies is still a believer and likes the long-term appeal of miners Randgold Resources PLC (LON:RRS) and Acacia PLC (LON:ACA).

Since Donald Trump’s November US presidential election victory the spot price for the metal has dropped by around US$90 per oz and share prices of the gold miners have followed suit.

Jefferies has lowered its forecast for the gold price already but expects a steady recovery through 2017 and further out a price of around US$1,300 per ounce to hold.

On those assumptions and with inflation expectations set to increase, it makes gold and the miners an attractive store of value play suggests the broker.

Randgold is the flagship of the London-listed sector, but its traditional valuation premium is now the lowest for two years and with the introduction of special dividends its shares are looking very attractive.

Acacia is also Africa-focused and making good progress at Bulyanhulu, in Tanzania, which should drive strong cash flows in 2017. Further evidence of steady production improvement would reduce its current discount rating.

Balance sheets of both meanwhile remain strong and Jefferies' price targets are 8,700p for Randgold and 550p for Acacia compared to market prices of 6,640p and 406.4p respectively


Proactiveinvestors.co.uk

[professor pettigrew] 10/1/2017 13:36

A proper rollercoaster day. Gold now up $1 - RRS £66.60.

[professor pettigrew] 10/1/2017 13:27

So far, the share price has held up relatively well.

About 15p above correlation at the moment after £66.20..

[professor pettigrew] 10/1/2017 12:54

Gold now off 75c - on that basis we should hit around £66.15 on the ask.

[professor pettigrew] 10/1/2017 11:53

Robrah - I can't see the logic in your view.

If gold is, say, $1000 per oz and RRS is £38.75 (the correlation figure by the way), then why would the share price of RRS rise to say £42 (correlation of gold $1030) in anticipation?

But, put it the other way round then it would go to £42 if gold were to rise $30.

It sure must be a question of the share price reacting to where the gold price goes rather than the other way round.

Just before 11 I posted that "within 30 mins the ask would go above £66.95". We are now around that level, albeit 15 minutes late.

[professor pettigrew] 10/1/2017 11:49

Almost back to £67.

RRS never fails to run to form.

[bonio10000] 10/1/2017 11:26

That might change if people lose faith in the manipulated paper market and trade miners and not the paper stuff. That would make miners wag the paper dog more.

[professor pettigrew] 10/1/2017 11:23

Well, I must strongly disagree Robrah. Overall I've found RRS is a real "laggard". Over the years I've always found it that way.

The figures I have for correlation vs the gold price are around 90-95% accurate and a good guide to where the share price could go.

Picked up a further 78 around 15 minutes ago.

[professor pettigrew] 10/1/2017 11:21

Well, we've just hit £66.70 on the ask, around 28 mins from the £66.40 level.

Just an example of how RRS is slow to react.

[robrah] 10/1/2017 11:11

My view has always been . RRS reacts b4 the bounce in price of gold . It seems more of a leading indicator rather then lagging. Recently Rrs stopped falling around 55 even the gold price was falling as randgold strated gain b4 the in gold prices.

[professor pettigrew] 10/1/2017 11:07

OK - maybe that was a tad optimistic, but RRS is well renowned for reacting after events, so when the gold price rises RRS normally takes time to catch up.

The correlation figures are correct though.

This looks a good opportunity to scoop up a few.

[professor pettigrew] 10/1/2017 10:54

Watch RRS now display it's classic "laggard" effect. Ask now £66.45, but gold over $3.25 ahead at $1187.

Within the next 30 mins the ask will go back above £66.95.

[terry barnett] 10/1/2017 10:35

Treading water!