Randgold Resources Limited: Back to the Buy Zone!
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| Topic: Gold Mining Companies — September 9th, 2008
As we can see from the chart the stock price has deteriorated as the dash for cash continues and has broken well below its 200dma and once again sits some $18.00 below its peak of about $55.00. This stock may decline a little more as the summer season has rendered gold directionless. However we believe that the downside for Randgold is limited, as the majority of the sellers have bailed out and the speculators will be considering another run at Randgold.
Back to the chart where we can see that the technical indicators are well and truly planted in the oversold zone and we can see just what a roller coaster ride this stock is experiencing. The volatility of the gold market is reflected in this stocks behaviour so don’t expect it to abate anytime soon. However we do anticipate that the upward trend will resume shortly for both the metals and the quality producing stocks with Randgold doing particularly well.
Randgold Resources Limited has a market capitalisation of $2.76 billion, a P/E ratio of 45.37 with 76.32 million shares outstanding and trades around 1.0 million shares per day.
Randgold Resources Limited trades on the London Stock Exchange under the symbol of RRS and on the NASDAQ under the symbol of GOLD.
Hang on in there.
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looks like most if not all the stocks covered in your gold silver and uranium sites are in the buy zone today…..are they not??????????
Comment by lou — September 9, 2008 @ 9:41 pm
Both GOLD & AEM are at the top of my want list for a buy (stock or option). This newsletter was what put me on to GOLD. Before it was just one of a hundred, now it is in my top several I follow. This is where the details that you include come into play. As to when to buy? Don’t know, still waiting for the falling knife to stop.
You like KGC, I don’t becasue of the political risk of Russia. Any commnet as to your view of the risk?
AUY is still in my “thinking about” stage. Not sure why I am uncomfortable…
HL and PAAS are positive, but 2nd string category for now.
Comment by BC — September 10, 2008 @ 4:44 pm
LOU,
It’s difficult to predict the exact bottom as we have discovered - we are sitting and watching at the moment, not buying. Be careful these are very volatile times for metals bugs.
Comment by Gold Prices — September 10, 2008 @ 10:00 pm
look at previous returns on the stocks mentioned above……. these guys rock ! i wish i knew about these gold silver uran sites years ago—i wouldve lost alot less money and made a heck of alot more…. you people who do these sites are THE BEST ! THANK YOU !!!!!!!!! JUST HOPE THESE GOLD SILVER AND URAN STOCKS KEEP THEIR RUN FOR YEARS TO COME ! gold prices-a question– any idea how long the gold silver and uran stocks will continue to keep on running ?????? how many more years? i need time to catch up by investing in these stocks ! lol……..
Comment by lou — September 11, 2008 @ 1:00 am
lou,
For what it is worth, we think that we are about half way through the bull market for gold and silver so it could run for about another 5-6 years. However, things do happen faster these days so the final blow off stage may be a closer than we think, it is something that we are working on and trying to get right - but dont count on us we have been wrong before, read as widely as you can.
Comment by Gold Prices — September 11, 2008 @ 4:02 am
nice moves up today on all your gold silver and uran stocks! ! wow i just wish we could see this more often now ! what do you think gold prices? are we ready for a rally in commodites now? is the dollar rally almost over?? what caused todays rally and do you think it will continue ? or was this just a teaser day?????
Comment by lou — September 12, 2008 @ 10:38 pm
Lou,
We are in for a major rally in gold prices over the coming months, however commodities is a different issuse.
We believe that since the USD didnt break 80, its rally is dead in the water.
Dont expect days like today everyday, but expect gold to be much, much higher by the end of the year.
Comment by Gold Prices — September 18, 2008 @ 6:16 am
Are they any stocks or stock options that you recommed to buy now?
Comment by Emtea — September 20, 2008 @ 5:45 pm