Randgold Resources Q4 Profit Down, Production Up; Lifts Dividend; Stock Up

(RTTNews) - Shares of Randgold Resources Ld (RRS.L, GOLD) were gaining around 4 percent in the morning trading in London after the gold producer reported higher sales and production it its fourth quarter, and lifted its dividend. This was despite decline in profit reflecting lower average prices.

For the fourth quarter, profit attributable to equity shareholders declined to $44.53 million from last year's $49.62 million. Basic earnings per share were $0.48, down from $0.54 last year.

Gold sales, however, increased to $354.76 million from prior year's $339.94 million.

Group production was 326 430 ounces, 6 percent higher than 287 048 ounces last year.

Average gold price received was $1 091 per ounce, compared to $1 195 per ounce last year.

Group total cash cost per ounce was down 3% at $679/oz.

Further, the board has proposed a final cash dividend of 66 US cents per share, a 10% increase on the prior year's 60 US cents per share.

In London, Randgold shares were trading at 5,515 pence, up 4.06 percent.