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Randgold Resources Earnings More Than Double Tuesday, November 9, 1:42 PM ET Miner Randgold Resources (GOLD) posted earnings of $28.2 million today, more than double its profits compared to last year for the third quarter.
Profit from mining rose 21% over last year, to $42.7 million.
Randgold said the profit increase from mining was due to higher production for the third quarter, which totaled 101,468 ounces.
Randgold is trading up 2.9% today.
Gold itself is rising today along with a decline in the dollar, with gold going for $1,420 an ounce.
The SPDR Gold Shares (GLD) is trading up nearly .8% today, while the iShares Gold Trust (IAU) trades up .7%.
The Gold Miners ETF (GDX) is trading up 2.6%. Randgold comprises 4.07% of the portfolio, while top holding Barrick Gold (ABX) is 16.26%.
For MarketNewsVideo.com, I’m Sayoko Murase.
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