[miningmx.com] – SHARES in UK-listed gold firms Randgold Resources, Centamin and Acacia Mining had been oversold, said Reuters citing a report by Investec Securities which said these gold firms had in common strong balance sheets.
“The UK-listed gold equities have been unnecessarily harshly treated in recent days,’ Bloomberg cited Investec to have said. “Unlike many of their global peers, Randgold, Centamin and Acacia Mining have no net debt and can thereby withstand a prolonged downturn,” the bank’s analysts added.
Randgold has fallen 7.5% in the past five days in London trading, Centamin 9.2% and Acacia 19%, said Bloomberg News.
“Given the recent share price declines, we maintain our buy recommendations on Randgold and Centamin and upgrade Acacia Mining to buy,” Investec analysts said.
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