BAML – The Sell Off Is Overdone: It's Time To Buy GOLD

Rupert Hargreaves

Published onMay 5, 2016

Updated on May 13, 2021

The Sell Off Is Overdone: It's Time To Buy GOLD

Randgold Resources’ post-earnings sell off is overdone and now is the perfect time to buy the miner, that’s according to Bank of America Merrill Lynch, which today upgraded $GOLD from ‘neutral’ to ‘buy’.

Buy Randgold for exposure to gold

Randgold’s Q1 2016 results, published yesterday, sparked a sell-off that has sent the miner’s shares plunging to a level not seen since mid-February. However, the figures weren’t overly disappointing, and the underlying case for investment appears to remain intact.

The surprising force behind gold’s rally

The company reported EBITDA of $123 million for the quarter, 2% below consensus after the company had some issues with power and commissioning at its Tongon mine and...

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Rupert Hargreaves

Sign up now and get our in-depth FREE e-books on famous investors like Klarman, Dalio, Schloss, Munger Rupert is a committed value investor and regularly writes and invests following the principles set out by Benjamin Graham. He is the editor and co-owner of Hidden Value Stocks, a quarterly investment newsletter aimed at institutional investors. Rupert owns shares in Berkshire Hathaway. Rupert holds qualifications from the Chartered Institute For Securities & Investment and the CFA Society of the UK. Rupert covers everything value investing for Hedge Fund Alpha

BAML – The Sell Off Is Overdone: It's Time To Buy GOLD

Buy Randgold for exposure to gold

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