Randgold Resources (GOLD) Trading Down 6.7% Following Weak Earnings

Randgold Resources Ltd. (NASDAQ:GOLD) shares were down 6.7% during mid-day trading on Monday following a dissappointing earnings announcement. The stock traded as low as $90.51 and last traded at $92.63. Approximately 1,911,576 shares were traded during mid-day trading, an increase of 258% from the average daily volume of 534,539 shares. The stock had previously closed at $99.23.

The basic materials company reported $0.79 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.05). Randgold Resources had a net margin of 21.49% and a return on equity of 7.32%.

A number of research analysts have issued reports on the company. BidaskClub raised Randgold Resources from a “sell” rating to a “hold” rating in a research note on Friday. Zacks Investment Research raised Randgold Resources from a “strong sell” rating to a “hold” rating in a research note on Wednesday, January 31st. HC Wainwright reissued a “buy” rating on shares of Randgold Resources in a research note on Wednesday, January 17th. JPMorgan Chase & Co. cut Randgold Resources from an “overweight” rating to a “neutral” rating in a research note on Thursday, December 14th. Finally, Desjardins reissued a “hold” rating on shares of Randgold Resources in a research note on Monday, December 11th. Ten equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $84.90.

Several hedge funds have recently bought and sold shares of GOLD. Ameriprise Financial Inc. boosted its position in shares of Randgold Resources by 8.1% during the second quarter. Ameriprise Financial Inc. now owns 5,674 shares of the basic materials company’s stock worth $502,000 after buying an additional 424 shares during the period. Northern Trust Corp boosted its position in shares of Randgold Resources by 1.0% during the second quarter. Northern Trust Corp now owns 86,585 shares of the basic materials company’s stock worth $7,659,000 after buying an additional 837 shares during the period. Advisor Group Inc. boosted its position in shares of Randgold Resources by 9.7% during the second quarter. Advisor Group Inc. now owns 2,815 shares of the basic materials company’s stock worth $248,000 after buying an additional 250 shares during the period. Parametric Portfolio Associates LLC boosted its position in shares of Randgold Resources by 9.6% during the second quarter. Parametric Portfolio Associates LLC now owns 139,313 shares of the basic materials company’s stock worth $12,324,000 after buying an additional 12,215 shares during the period. Finally, BlueCrest Capital Management Ltd acquired a new position in shares of Randgold Resources during the second quarter worth about $901,000. 35.25% of the stock is owned by institutional investors.

The firm has a market cap of $8,740.00, a PE ratio of 31.40 and a beta of -0.06.

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About Randgold Resources

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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