Randgold Resources (GOLD) Cut to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of Randgold Resources (NASDAQ:GOLD) from a hold rating to a sell rating in a research report report published on Monday morning.

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 several other research reports. Citigroup upgraded Randgold Resources from a neutral rating to a buy rating in a research note on Tuesday, December 5th. Desjardins restated a hold rating on shares of Randgold Resources in a research note on Monday, December 11th. HC Wainwright restated a buy rating on shares of Randgold Resources in a research note on Wednesday, January 17th. BidaskClub upgraded Randgold Resources from a sell rating to a hold rating in a research note on Thursday, December 21st. Finally, UBS Group downgraded 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 issued a hold rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $75.70.

Shares of Randgold Resources (GOLD) traded up $0.54 during trading hours on Monday, hitting $90.65. The stock had a trading volume of 1,004,100 shares, compared to its average volume of 693,841. 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 $8,476.53, a price-to-earnings ratio of 31.15 and a beta of -0.06.

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

The firm also recently announced a None dividend, which will be paid on Friday, May 18th. Shareholders of record on Friday, March 23rd will be paid a dividend of $1.98 per share. The ex-dividend date is Thursday, March 22nd. This represents a yield of 0.0233518103549947%. Randgold Resources’s dividend payout ratio is 33.68%.

A number of institutional investors and hedge funds have recently modified their holdings of the business. The Manufacturers Life Insurance Company boosted its stake in Randgold Resources by 0.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,915 shares of the basic materials company’s stock valued at $1,319,000 after purchasing an additional 56 shares during the last quarter. Advisor Group Inc. boosted its stake in Randgold Resources by 9.7% during the 2nd quarter. Advisor Group Inc. now owns 2,815 shares of the basic materials company’s stock valued at $248,000 after purchasing an additional 250 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in Randgold Resources by 8.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 5,674 shares of the basic materials company’s stock valued at $502,000 after purchasing an additional 424 shares during the last quarter. Saturna Capital CORP boosted its stake in Randgold Resources by 7.3% during the 4th quarter. Saturna Capital CORP now owns 9,081 shares of the basic materials company’s stock valued at $898,000 after purchasing an additional 620 shares during the last quarter. Finally, Advisory Services Network LLC boosted its stake in Randgold Resources by 60.4% during the 4th quarter. Advisory Services Network LLC now owns 1,700 shares of the basic materials company’s stock valued at $168,000 after purchasing an additional 640 shares during the last quarter. Institutional investors and hedge funds own 35.37% of the company’s stock.

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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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