This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.
Mining p6
Randgold Resources (RRS)
Where next for RRS shares?
- The gold miner has benefitted from a strong rebound in the gold price through January and February and a positive earnings report for FY2015
- Shares will have benefitted from healthy safe haven demand, but while miners like RRS should be negatively correlated with more basic materials-focused peers, both have seen shares recover in 2016
- A more risk-on market sentiment into March could put pressure on the gold price and shares in gold miners may now be overbought
Will Randgold Resources (RRS) continue to make fresh 2016 highs or fall back towards the average broker target of 5357p?
Broker Consensus: 28% Buy, 56% Hold, 16% Sell
Average 12-month broker target price: 5357p
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Prepared by Michael van Dulken, Head of Research
