Randgold Resources Ltd. (ADR) (GOLD) was Downgraded by Citigroup to ” Sell”. Earlier the firm had a rating of “Neutral ” on the company shares. Citigroup advised their investors in a research report released on May 5, 2016.
Many Wall Street Analysts have commented on Randgold Resources Ltd. (ADR). Randgold Resources Ltd. (ADR) was Downgraded by Citigroup to ” Neutral” on Apr 18, 2016. Randgold Resources Ltd. (ADR) was Downgraded by Morgan Stanley to ” Equal-Weight” on Mar 7, 2016. Randgold Resources Ltd. (ADR) was Downgraded by BofA/Merrill to ” Neutral” on Mar 1, 2016.
Randgold Resources Ltd. (ADR) closed down -10.37 points or -10.84% at $85.29 with 26,30,098 shares getting traded on Wednesday. Post opening the session at $89.1, the shares hit an intraday low of $84.33 and an intraday high of $89.63 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
Randgold Resources Limited is engaged in the exploration and development of gold deposits in Sub-Saharan Africa. The Company in Mali West Africa operates mines such as Morila Loulo and Gounkoto. The Company owns 50% of Morila Limited which in turn owns 80% of Morila. It has an 80% controlling interest in the Loulo mine through Societe des Mines de Loulo SA (Loulo). The Company has an 80% controlling interest in the Gounkoto mine through Societe des Mines de Gounkoto SA (Gounkoto). It operates Tongon gold mine in Cote d’Ivoire Africa which is located within the Nielle exploitation permit. The Company holds 45% interest in the Kibali gold mine located in the Democratic Republic of Congo (DRC) in conjunction with AngloGold Ashanti Limited (AngloGold Ashanti) (45%) and Societe Miniere de Kilo-Moto sarl (SOKIMO) (10%).