Zacks Investment Research cut shares of Randgold Resources (NASDAQ:GOLD) from a hold rating to a sell rating in a report issued on Wednesday 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. “
A number of other equities research analysts have also recently commented on the company. BidaskClub raised Randgold Resources from a sell rating to a hold rating in a report on Friday, September 28th. Royal Bank of Canada raised Randgold Resources from an underperform rating to a sector perform rating in a report on Wednesday, September 26th. JPMorgan Chase & Co. cut Randgold Resources from an overweight rating to a neutral rating and set a $68.00 target price on the stock. in a report on Tuesday, September 25th. ValuEngine raised Randgold Resources from a strong sell rating to a sell rating in a report on Monday, September 24th. Finally, UBS Group raised Randgold Resources from a neutral rating to a buy rating in a report on Wednesday, August 29th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the company. The stock presently has an average rating of Buy and a consensus price target of $87.00.
NASDAQ:GOLD traded down $0.83 on Wednesday, reaching $77.33. 1,520,244 shares of the company’s stock traded hands, compared to its average volume of 666,433. The stock has a market cap of $6.66 billion, a PE ratio of 26.48 and a beta of -0.12. Randgold Resources has a 12 month low of $59.90 and a 12 month high of $104.05.
Randgold Resources (NASDAQ:GOLD) last posted its quarterly earnings results on Thursday, August 9th. The basic materials company reported $0.54 EPS for the quarter, missing the Zacks’ consensus estimate of $0.58 by ($0.04). The business had revenue of $283.66 million for the quarter. Randgold Resources had a net margin of 19.74% and a return on equity of 5.88%. As a group, research analysts forecast that Randgold Resources will post 2.93 EPS for the current year.
Several hedge funds have recently modified their holdings of the company. Sei Investments Co. increased its holdings in shares of Randgold Resources by 27.1% in the first quarter. Sei Investments Co. now owns 2,971 shares of the basic materials company’s stock worth $247,000 after purchasing an additional 633 shares during the last quarter. Crossmark Global Holdings Inc. increased its stake in Randgold Resources by 6.2% during the second quarter. Crossmark Global Holdings Inc. now owns 14,452 shares of the basic materials company’s stock worth $1,114,000 after acquiring an additional 838 shares during the last quarter. Hexavest Inc. increased its stake in Randgold Resources by 14.3% during the second quarter. Hexavest Inc. now owns 10,125 shares of the basic materials company’s stock worth $781,000 after acquiring an additional 1,266 shares during the last quarter. Boyer & Corporon Wealth Management LLC increased its stake in Randgold Resources by 3.2% during the second quarter. Boyer & Corporon Wealth Management LLC now owns 49,339 shares of the basic materials company’s stock worth $3,804,000 after acquiring an additional 1,534 shares during the last quarter. Finally, Commonwealth Equity Services LLC increased its stake in Randgold Resources by 68.2% during the first quarter. Commonwealth Equity Services LLC now owns 3,823 shares of the basic materials company’s stock worth $318,000 after acquiring an additional 1,550 shares during the last quarter. 36.66% of the stock is currently owned by hedge funds and other institutional investors.
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).
Recommended Story: NASDAQ Stock Market Explained
Get a free copy of the Zacks research report on Randgold Resources (GOLD)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Randgold Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Randgold Resources and related companies with MarketBeat.com's FREE daily email newsletter.