Randgold Resources (GOLD) Stock Rating Lowered by Zacks Investment Research

Randgold Resources (NASDAQ:GOLD) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Tuesday, January 23rd.

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. “

GOLD has been the topic of a number of other research reports. Citigroup raised shares of Randgold Resources from a “neutral” rating to a “buy” rating in a report on Tuesday, December 5th. Desjardins restated a “hold” rating on shares of Randgold Resources in a research report on Monday, December 11th. HC Wainwright reiterated a “buy” rating on shares of Randgold Resources in a research report on Wednesday, January 17th. BidaskClub upgraded shares of Randgold Resources from a “sell” rating to a “hold” rating in a research report on Thursday, December 21st. Finally, UBS Group cut Randgold Resources from a “buy” rating to a “neutral” rating in a research note on Thursday, November 9th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $75.70.

Shares of Randgold Resources (NASDAQ:GOLD) traded up $5.00 during trading on Tuesday, reaching $90.11. 1,086,690 shares of the company’s stock traded hands, compared to its average volume of 704,280. Randgold Resources has a 12-month low of $81.35 and a 12-month high of $108.29. The company has a market cap of $8,054.16, a price-to-earnings ratio of 30.97 and a beta of -0.06.

Randgold Resources (NASDAQ:GOLD) last posted its earnings results on Monday, February 5th. The basic materials company reported $0.79 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.84 by ($0.05). Randgold Resources had a return on equity of 7.13% and a net margin of 21.72%. The firm had revenue of $328.62 million during the quarter. analysts expect that Randgold Resources will post 3.77 earnings per share for the current fiscal year.

A number of institutional investors have recently made changes to their positions in the business. Two Sigma Investments LP lifted its holdings in Randgold Resources by 38.7% during the 4th quarter. Two Sigma Investments LP now owns 34,843 shares of the basic materials company’s stock valued at $3,446,000 after purchasing an additional 9,723 shares during the last quarter. Two Sigma Advisers LP lifted its holdings in Randgold Resources by 386.9% during the 4th quarter. Two Sigma Advisers LP now owns 40,900 shares of the basic materials company’s stock valued at $4,045,000 after purchasing an additional 32,500 shares during the last quarter. Deutsche Bank AG lifted its holdings in shares of Randgold Resources by 308.2% during the fourth quarter. Deutsche Bank AG now owns 453,699 shares of the basic materials company’s stock worth $44,866,000 after buying an additional 342,549 shares in the last quarter. CoreCommodity Management LLC lifted its holdings in shares of Randgold Resources by 8.9% during the fourth quarter. CoreCommodity Management LLC now owns 9,475 shares of the basic materials company’s stock worth $937,000 after buying an additional 773 shares in the last quarter. Finally, Prince Street Capital Management LLC lifted its holdings in shares of Randgold Resources by 17.8% during the fourth quarter. Prince Street Capital Management LLC now owns 298,700 shares of the basic materials company’s stock worth $29,538,000 after buying an additional 45,200 shares in the last quarter. 35.37% of the stock is owned by institutional investors and hedge funds.

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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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