Zacks Investment Research Lowers Randgold Resources Limited (GOLD) to Hold

Zacks Investment Research lowered shares of Randgold Resources Limited (NASDAQ:GOLD) from a buy rating to a hold rating in a research report report published on Wednesday, August 30th.

According to Zacks, “Randgold Resources is an international gold mining and exploration business. It has to date discovered the 7 Moz Morila deposit in southern Mali, the plus 5 Moz Yalea deposit in western Mali and the 3 Moz Tongon deposit in the Côte d’Ivoire. The Company successfully developed the Morila deposit into one of the world’s largest and highest-margin gold mines. In addition, Randgold Resources has a portfolio of prospective exploration projects across Africa in Mali, Côte d’Ivoire, Senegal, Burkina Faso, Ghana and Tanzania. “

Other analysts have also recently issued research reports about the stock. BidaskClub raised shares of Randgold Resources Limited from a sell rating to a hold rating in a report on Thursday, August 3rd. HSBC Holdings plc reissued a hold rating on shares of Randgold Resources Limited in a report on Friday, July 7th. J P Morgan Chase & Co reissued an overweight rating and set a $107.00 price objective (up previously from $105.00) on shares of Randgold Resources Limited in a report on Monday, June 5th. CIBC raised shares of Randgold Resources Limited from a sector perform rating to a sector outperform rating in a report on Friday, May 5th. Finally, Scotiabank raised their price objective on shares of Randgold Resources Limited from $102.00 to $141.00 and gave the stock a sector perform rating in a report on Friday, May 5th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $101.25.

Randgold Resources Limited (GOLD) traded down 0.06% during midday trading on Wednesday, hitting $102.57. 584,379 shares of the company were exchanged. The stock has a market capitalization of $9.65 billion, a price-to-earnings ratio of 32.67 and a beta of 0.02. The stock has a 50 day moving average of $98.51 and a 200-day moving average of $92.39. Randgold Resources Limited has a 1-year low of $67.54 and a 1-year high of $108.29.

Randgold Resources Limited (NASDAQ:GOLD) last issued its earnings results on Friday, August 4th. The basic materials company reported $0.88 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.14. The firm had revenue of $336.79 million for the quarter. Randgold Resources Limited had a net margin of 22.75% and a return on equity of 7.89%. Equities analysts expect that Randgold Resources Limited will post $3.30 earnings per share for the current year.

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Several institutional investors have recently added to or reduced their stakes in the stock. DekaBank Deutsche Girozentrale raised its stake in Randgold Resources Limited by 10.9% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,331 shares of the basic materials company’s stock valued at $115,000 after purchasing an additional 131 shares during the last quarter. Smith Affiliated Capital Corp. raised its stake in Randgold Resources Limited by 4.0% in the 2nd quarter. Smith Affiliated Capital Corp. now owns 1,310 shares of the basic materials company’s stock valued at $116,000 after purchasing an additional 50 shares during the last quarter. Acrospire Investment Management LLC raised its stake in Randgold Resources Limited by 40.0% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,400 shares of the basic materials company’s stock valued at $124,000 after purchasing an additional 400 shares during the last quarter. Creative Planning raised its stake in Randgold Resources Limited by 41.3% in the 2nd quarter. Creative Planning now owns 1,540 shares of the basic materials company’s stock valued at $136,000 after purchasing an additional 450 shares during the last quarter. Finally, Twin Tree Management LP acquired a new position in Randgold Resources Limited in the 2nd quarter valued at about $160,000. Institutional investors and hedge funds own 35.56% of the company’s stock.

Randgold Resources Limited Company Profile

Randgold Resources Limited is engaged in gold mining, exploration and related activities. The Company’s activities are focused on West and Central Africa. The Company operates through the gold mining segment. The Company operates various mines, such as Morila, Loulo, Gounkoto, Tongon and Kibali. The Company is exploring in African countries, such as Mali, Senegal, Cote d’Ivoire and the Democratic Republic of Congo (DRC).

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