Randgold Resources (GOLD) Downgraded by Zacks Investment Research to “Sell”

Randgold Resources (NASDAQ:GOLD) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors 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. “

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GOLD has been the subject of several other reports. Goldman Sachs raised shares of Randgold Resources from a “neutral” rating to a “buy” rating in a report on Monday, March 26th. JPMorgan Chase cut their price target on shares of Randgold Resources from $103.00 to $102.00 and set a “neutral” rating for the company in a report on Monday, April 9th. BidaskClub raised shares of Randgold Resources from a “sell” rating to a “hold” rating in a report on Thursday, December 21st. Numis Securities downgraded shares of Randgold Resources from a “buy” rating to an “add” rating in a report on Tuesday, February 6th. Finally, HSBC raised shares of Randgold Resources from a “hold” rating to a “buy” rating in a report on Thursday, February 8th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $84.10.

NASDAQ:GOLD traded down $1.50 during trading hours on Monday, hitting $80.76. The stock had a trading volume of 415,493 shares, compared to its average volume of 644,789. Randgold Resources has a one year low of $77.70 and a one year high of $108.29. The company has a market cap of $7,766.59, a price-to-earnings ratio of 27.66 and a beta of 0.11.

Randgold Resources (NASDAQ:GOLD) last announced its quarterly earnings results on Monday, February 5th. The basic materials company reported $0.79 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.84 by ($0.05). Randgold Resources had a net margin of 21.72% and a return on equity of 7.13%. The firm had revenue of $328.62 million during the quarter. sell-side analysts forecast that Randgold Resources will post 3.72 earnings per share for the current fiscal year.

Institutional investors have recently bought and sold shares of the company. Advisory Services Network LLC raised its position in shares of 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 buying an additional 640 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of Randgold Resources by 629.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,188 shares of the basic materials company’s stock valued at $315,000 after buying an additional 2,751 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Randgold Resources by 24.6% during the 4th quarter. SG Americas Securities LLC now owns 3,385 shares of the basic materials company’s stock valued at $335,000 after buying an additional 668 shares in the last quarter. First Trust Advisors LP purchased a new stake in shares of Randgold Resources during the 4th quarter valued at $371,000. Finally, FNY Partners Fund LP purchased a new stake in shares of Randgold Resources during the 4th quarter valued at $395,000. Hedge funds and other institutional investors own 35.30% of the company’s stock.

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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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