Source - SMW
Numis has upgraded its recommendation on Randgold Resources (LON:RRS) to 'buy' from 'hold', which it says is in anticipation of "a return to form" in the third quarter.

The broker said: "RRS faced a number of issues in Q2 due to a combination of operational challenges at both Tongon and Kibali.

"Management have, however, retained guidance for the year of 1.25Moz-1.3Moz and we expect the shares to re-rate driven by improved operational performance in H2 with higher gold prices supported by stronger Asian demand in Q4."

Analysts have left their target price unchanged at 9,000 pence per share.

The shares have fallen by around 10 per cent in the past month, despite rising around 20 per cent on a three-month view.

At 2:12pm: (LON:RRS) Randgold Resources Ltd share price was +135p at 7600p