Randgold Resources (NASDAQ:GOLD) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Monday.
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. “
A number of other equities research analysts also recently commented on the company. Desjardins set a $100.00 price objective on Randgold Resources and gave the company a “hold” rating in a research report on Monday. JPMorgan Chase cut their price objective on Randgold Resources from $103.00 to $102.00 and set a “neutral” rating for the company in a research report on Monday, April 9th. Royal Bank of Canada downgraded Randgold Resources from a “sector perform” rating to an “underperform” rating in a research report on Wednesday, April 4th. Goldman Sachs upgraded Randgold Resources from a “neutral” rating to a “buy” rating in a research report on Monday, March 26th. Finally, BidaskClub upgraded Randgold Resources from a “strong sell” rating to a “sell” rating in a research report on Saturday, March 24th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $84.10.
Shares of NASDAQ:GOLD opened at $81.30 on Monday. Randgold Resources has a one year low of $77.70 and a one year high of $108.29. The firm has a market cap of $7,766.59, a PE ratio of 27.84 and a beta of 0.11.
Randgold Resources (NASDAQ:GOLD) last announced its quarterly earnings data on Monday, February 5th. The basic materials company reported $0.79 EPS for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.05). Randgold Resources had a net margin of 21.72% and a return on equity of 7.13%. The company had revenue of $328.62 million for the quarter. sell-side analysts forecast that Randgold Resources will post 3.72 earnings per share for the current fiscal year.
A number of large investors have recently made changes to their positions in GOLD. Deutsche Bank AG raised its stake in Randgold Resources by 308.2% during the 4th quarter. Deutsche Bank AG now owns 453,699 shares of the basic materials company’s stock valued at $44,866,000 after purchasing an additional 342,549 shares during the period. Amundi Pioneer Asset Management Inc. acquired a new stake in Randgold Resources during the 4th quarter valued at $28,795,000. CI Investments Inc. raised its stake in Randgold Resources by 498.0% during the 4th quarter. CI Investments Inc. now owns 132,810 shares of the basic materials company’s stock valued at $13,134,000 after purchasing an additional 110,600 shares during the period. APG Asset Management N.V. acquired a new stake in Randgold Resources during the 4th quarter valued at $8,416,000. Finally, Renaissance Technologies LLC raised its stake in Randgold Resources by 17.1% during the 4th quarter. Renaissance Technologies LLC now owns 582,600 shares of the basic materials company’s stock valued at $57,613,000 after purchasing an additional 85,200 shares during the period. 35.30% of the stock is currently owned by institutional investors.
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Randgold Resources 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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