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Friday, July 9, 2010

Goldman (NYSE:GS) Downgrades Randgold (Nasdaq:GOLD), AngloGold Ashanti (NYSE:AU)

Goldman Sachs (NYSE:GS) downgraded Randgold (Nasdaq:GOLD) and AngloGold Ashanti (NYSE:AU) today, both from ""Neutral" to "Sell."

The reasoning behind the downgrades are the shares already have priced into them the value of the increase in gold prices, so they don't have a lot of room to grow.

Goldman's downgrade did have a negative impact on Randgold, as it dropped almost 1 percent to $93.30, falling $0.87, or 0.92 percent.

AngloGold Ashanti on the other hand, ended the day in positive range, finishing the trading session at $40.96, gaining $0.29, or 0.71 percent.

1 comment:

Busy Man Fitness said...

As they accumulate the gold themselves.