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4-Traders Homepage  >  Equities  >  London Stock Exchange  >  Randgold Resources    RRS   GB00B01C3S32

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ADR Report: Shares Fall On Disappointing Earnings

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05/03/2012 | 10:50pm CEST
   By Corrie Driebusch 
   Of  
 

International companies traded in New York closed lower Thursday, in line with the broader market, as disappointing earnings pressured shares.

The Bank of New York index of ADRs shed 0.8% to 125.44, weighed down by a string of companies reporting lower-than-expected first-quarter results.

Africa-focused gold miner Randgold Resources Ltd. (GOLD, RRS.LN) said Thursday its first-quarter gold production and profits were up on the year despite the political troubles in Mali, from where it derives the majority of its gold output. Shares fell 5.1% to $81.89 as revenue missed analysts' expectations.

Delhaize Group's (DEG, DELB.BT) problems look set to continue after the retailer swung to a first-quarter net loss on charges related to store closures and revamps in the U.S., where it generates more than half of its sales. Shares of the Brussels-based retailer dropped 10% to $42.69.

The European index shed 0.7% to 115.18.

Societe Generale SA (SCGLY, GLE.FR) said Thursday that first-quarter earnings at its investment bank rebounded from the tough, previous quarter but fell year-on-year, pressured by a restructuring plan aimed at sheltering the French bank from Europe's still-smoldering debt crisis. Shares tumbled 5.2% to $4.52.

Infineon Technologies AG (IFNNY, IFX.XE) shares ended off 3.8% at $9.54 as investors focused on management commentary about margin forecasts at Thursday's analyst conference. Infineon's management said it sees difficulties for several years ahead when it comes to increasing its margins.

The Asian index dropped 1.1% to 124.82, and the emerging markets index fell 1.1% to 295.31.

Output cuts across Europe's aluminum industry are hurting short-term demand for alumina, a key ingredient in the lightweight metal, and driving producer margins lower, the chief executive of Alumina Ltd. (AWC, AWC.AU) said Thursday. Shares of the Australian company fell 4.2% to $4.57.

Employees of flat-panel maker LG Display Co. (LPL, 034220.SE) are being investigated for alleged infringement of rival Samsung Mobile Display's ultra-thin technology, South Korean prosecutors said Thursday. Shares of LG Display Co. tumbled 6.1% to $10.48.

The Latin American index ended down 0.9% to 349.98.

Latin America's biggest steelmaker, Gerdau SA (GGB, GGBR3.BR, GGBR4.BR), reported net profit of 397 million Brazilian reais ($206.77 million) for the first quarter, 3% less than the BRL409 million posted in the first quarter of 2011, as costs rose and the impact of deindustrialization was felt in Brazil. Shares of Gerdau lost 2.5% to $9.13.

-By Corrie Driebusch, Dow Jones Newswires; 212-416-2143; corrie.driebusch@dowjones.com

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Financials ($)
Sales 2017 1 270 M
EBIT 2017 469 M
Net income 2017 304 M
Finance 2017 725 M
Yield 2017 1,97%
P/E ratio 2017 29,18
P/E ratio 2018 24,24
EV / Sales 2017 6,49x
EV / Sales 2018 6,13x
Capitalization 8 972 M
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Technical analysis trends RANDGOLD RESOURCES
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TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 23
Average target price 104 $
Spread / Average Target 9,3%
EPS Revisions
Managers
NameTitle
Dennis Mark Bristow Chief Executive Officer & Executive Director
Christopher L. Coleman Non-Executive Chairman
Graham P. Shuttleworth CFO, Executive Director & Finance Director
Andrew James Quinn Senior Independent Director
Jeanine Mabunda Lioko Independent Non-Executive Director
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