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Someone sees upside in Randgold Resources.
optionMONSTER's Heat Seeker tracking program detected the purchase of more than 2,400 January 70 calls for $0.85 to $0.90 today. Volume surpassed open interest of 934 contracts, an indication that new money was put to work.
Long calls fix the price where investors can buy stock, allowing them to profit from a rally with limited capital at risk. Their cheap cost can also generate significant leverage on a percentage basis if shares move in the right direction. (See our Coaching section)
GOLD is down 1.34 percent to $62.60 in afternoon trading. The gold miner is up 7 percent in the last three months but has lost half its market value in the last three years. The next quarterly results are estimated for Feb. 8.
Overall option volume is twice its daily average so far, according to the Heat Seeker. Calls outnumbered puts by a bullish 10-to-1 ratio.
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Randgold Resources Ltd.
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PRODUCER |
CODE : GOLD |
ISIN : US7523443098 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Randgold Res. is a gold producing company based in United kingdom. Randgold Res. holds various exploration projects in Tanzania. Its main assets in production are MORILA, LOULO and TONGON in Mali and OBUASI in Ghana, its main assets in development are KIBALI (KILO-MOTO) in Congo Dem. Rep. of, MASSAWA in Senegal and GOUNKOTO in Ghana and its main exploration property is MIYABI in Tanzania. Randgold Res. is listed in Germany, in United Kingdom and in United States of America. Its market capitalisation is US$ 1.6 billions as of today (€ 1.5 billions). Its stock quote reached its lowest recent point on November 07, 2003 at US$ 10.03, and its highest recent level on January 04, 2013 at US$ 99.88. Randgold Res. has 93 804 000 shares outstanding. |