Randgold Resources upgraded to overweight from neutral at J.P. Morgan

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Randgold Resources pretax profit drops 27%

Randgold Resources Ltd. (RRS.LN) said Thursday that its first-quarter pretax profit fell 27% due to lower gold sales and higher production costs. The gold miner, which has operations in African countries including Mali and the Congo, said profit for the three months ended March 31 fell to $87.3 million from $119.6 million in the year-earlier period.

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