Zacks: Analysts Expect Randgold Resources Ltd. (GOLD) Will Post Earnings of $0.72 Per Share

Brokerages forecast that Randgold Resources Ltd. (NASDAQ:GOLD) will announce earnings of $0.72 per share for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have provided estimates for Randgold Resources’ earnings. Randgold Resources reported earnings per share of $0.51 during the same quarter last year, which would suggest a positive year-over-year growth rate of 41.2%. The company is expected to issue its next quarterly earnings report on Thursday, November 1st.

According to Zacks, analysts expect that Randgold Resources will report full-year earnings of $2.93 per share for the current year, with EPS estimates ranging from $2.59 to $3.41. For the next year, analysts anticipate that the business will report earnings of $3.54 per share, with EPS estimates ranging from $2.78 to $4.61. Zacks’ earnings per share averages are an average based on a survey of research analysts that cover Randgold Resources.

Randgold Resources (NASDAQ:GOLD) last issued its quarterly earnings results on Thursday, August 9th. The basic materials company reported $0.54 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.58 by ($0.04). Randgold Resources had a return on equity of 5.88% and a net margin of 19.74%. The company had revenue of $283.66 million for the quarter.

Several equities research analysts have recently issued reports on the stock. ValuEngine lowered shares of Randgold Resources from a “sell” rating to a “strong sell” rating in a research note on Friday. UBS Group upgraded shares of Randgold Resources from a “neutral” rating to a “buy” rating in a research note on Wednesday, August 29th. Desjardins upgraded shares of Randgold Resources from a “hold” rating to a “buy” rating and set a $95.00 price target for the company in a research note on Friday, August 17th. Clarus Securities restated a “buy” rating on shares of Randgold Resources in a research note on Friday, August 10th. Finally, Scotiabank set a $98.00 price objective on shares of Randgold Resources and gave the stock a “hold” rating in a report on Thursday, August 9th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $101.00.

Shares of GOLD stock traded up $0.68 during trading hours on Monday, hitting $61.65. 1,183,600 shares of the company were exchanged, compared to its average volume of 579,844. Randgold Resources has a 52-week low of $59.90 and a 52-week high of $104.05. The firm has a market cap of $5.81 billion, a P/E ratio of 21.11 and a beta of -0.14.

Several hedge funds have recently added to or reduced their stakes in the business. Schroder Investment Management Group increased its position in shares of Randgold Resources by 320.8% in the second quarter. Schroder Investment Management Group now owns 128,035 shares of the basic materials company’s stock valued at $9,630,000 after acquiring an additional 97,605 shares during the period. Tower Research Capital LLC TRC boosted its stake in shares of Randgold Resources by 467.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,401 shares of the basic materials company’s stock valued at $493,000 after purchasing an additional 5,272 shares in the last quarter. Natixis boosted its stake in shares of Randgold Resources by 49.0% during the 2nd quarter. Natixis now owns 40,845 shares of the basic materials company’s stock valued at $3,149,000 after purchasing an additional 13,438 shares in the last quarter. K2 Principal Fund L.P. boosted its stake in shares of Randgold Resources by 101.0% during the 2nd quarter. K2 Principal Fund L.P. now owns 20,099 shares of the basic materials company’s stock valued at $1,549,000 after purchasing an additional 10,100 shares in the last quarter. Finally, OppenheimerFunds Inc. boosted its stake in shares of Randgold Resources by 5.7% during the 2nd quarter. OppenheimerFunds Inc. now owns 391,952 shares of the basic materials company’s stock valued at $30,216,000 after purchasing an additional 21,000 shares in the last quarter. Hedge funds and other institutional investors own 36.67% of the company’s stock.

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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