Randgold Resources Is Ready to Shine

Randgold Resources Ltd. (NASDAQ:GOLD) — For months, gold bullion has been running ahead of gold mining stocks. But that trend appears to be correcting as major mining stocks came to life in the past week.�

Randgold mines in West andCentral Africa. With the rise in the price of gold bullion, the company is expected to increase sales by 112% in 2011 versus an 8.9% gain in 2010. The rise in the price of gold has provided this miner with a strong cash flow and enabled it to complete new mining operations and increase its exploration efforts. S&P has a �four-star buy� on GOLD with a price target of $140 within 12 months.�

Technically the recent break from a pennant gives a trading target of $120-plus, but longer term, it signals that another major bull market move is in order for this stock.

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