Randgold Resources Q2 Profit Climbs; Says Outlook Positive; Stock Up

(RTTNews) - Gold producer Randgold Resources Limited (RRS.L, GOLD) Thursday reported that its second-quarter profit before income tax climbed to $150.16 million from last year's $80.30 million.

Profit attributable to equity shareholders grew to $84.03 million from $49.03 million a year ago. Earnings per share were $0.89 for the quarter, higher than $0.52 a year ago.

Gold sales for the quarter of $422.14 million increased from last year's $354.44 million.

Gold production was 341 316 ounces for the quarter, higher than 281 494 ounces a year ago. Average gold price received declined to $1 254 per ounce from $1 264 per ounce a year ago.

Looking ahead, Chief executive Mark Bristow said, "At this stage the outlook is positive, and Randgold is trending towards the top end of its 2017 production guidance range at a total cash cost below $600 per ounce."

In LOndon, the shares were gaining 4.5 percent to 7,292.60 pence.