Royal Bank of Canada lowered shares of Randgold Resources (LON:RRS) to an underperform rating in a research report released on Wednesday morning. The brokerage currently has GBX 4,900 ($68.78) price objective on the stock, down from their prior price objective of GBX 6,600 ($92.64).
Several other analysts have also recently issued reports on RRS. Morgan Stanley reaffirmed an overweight rating on shares of Randgold Resources in a report on Wednesday, March 28th. JPMorgan Chase decreased their price objective on Randgold Resources from GBX 7,100 ($99.66) to GBX 7,000 ($98.26) and set a neutral rating on the stock in a report on Thursday, January 11th. Canaccord Genuity decreased their price target on Randgold Resources from GBX 7,500 ($105.28) to GBX 7,000 ($98.26) and set a buy rating on the stock in a report on Tuesday, March 13th. Credit Suisse Group restated a neutral rating and set a GBX 7,160 ($100.51) price target on shares of Randgold Resources in a report on Tuesday, January 30th. Finally, Citigroup upgraded Randgold Resources to a buy rating in a report on Tuesday, December 5th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the company’s stock. Randgold Resources has an average rating of Buy and a consensus target price of GBX 7,616.47 ($106.91).
Shares of RRS opened at GBX 5,658 ($79.42) on Wednesday. Randgold Resources has a 1 year low of GBX 5,760 ($80.85) and a 1 year high of GBX 8,255 ($115.88).
The firm also recently announced a dividend, which will be paid on Friday, May 18th. Shareholders of record on Thursday, March 22nd will be paid a $2.00 dividend. This is a positive change from Randgold Resources’s previous dividend of $1.00. The ex-dividend date is Thursday, March 22nd. This represents a yield of 2.41%.
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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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