Randgold Resources (GOLD) Trading 6.1% Higher

Randgold Resources Ltd. (NASDAQ:GOLD)’s share price traded up 6.1% on Thursday . The stock traded as high as $83.99 and last traded at $83.33. 1,071,925 shares traded hands during mid-day trading, an increase of 55% from the average session volume of 693,084 shares. The stock had previously closed at $78.54.

Several equities analysts recently weighed in on the stock. BidaskClub upgraded shares of Randgold Resources from a “hold” rating to a “buy” rating in a report on Wednesday, October 24th. Macquarie downgraded shares of Randgold Resources from an “outperform” rating to a “neutral” rating in a report on Monday, October 22nd. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of Randgold Resources from a “hold” rating to a “sell” rating in a report on Wednesday, October 10th. ValuEngine upgraded shares of Randgold Resources from a “sell” rating to a “hold” rating in a report on Thursday, October 11th. Finally, Scotiabank set a $98.00 price target on shares of Randgold Resources and gave the stock a “hold” rating in a report on Thursday, August 9th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the stock. Randgold Resources presently has an average rating of “Buy” and an average target price of $87.00.

The stock has a market capitalization of $7.47 billion, a P/E ratio of 28.54 and a beta of -0.11.

Randgold Resources (NASDAQ:GOLD) last released its quarterly earnings data on Thursday, August 9th. The basic materials company reported $0.54 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 during the quarter. On average, equities analysts forecast that Randgold Resources Ltd. will post 2.7 earnings per share for the current year.

A number of institutional investors have recently added to or reduced their stakes in GOLD. Cornerstone Wealth Management LLC purchased a new stake in Randgold Resources in the 2nd quarter worth approximately $185,000. Valeo Financial Advisors LLC purchased a new position in shares of Randgold Resources during the 3rd quarter valued at approximately $236,000. Sei Investments Co. lifted its position in shares of Randgold Resources by 27.1% during the 1st quarter. Sei Investments Co. now owns 2,971 shares of the basic materials company’s stock valued at $247,000 after buying an additional 633 shares in the last quarter. Greenleaf Trust purchased a new position in shares of Randgold Resources during the 3rd quarter valued at approximately $308,000. Finally, Commonwealth Equity Services LLC lifted its position in shares of Randgold Resources by 68.2% during the 1st quarter. Commonwealth Equity Services LLC now owns 3,823 shares of the basic materials company’s stock valued at $318,000 after buying an additional 1,550 shares in the last quarter. Institutional investors and hedge funds own 37.10% of the company’s stock.

About Randgold Resources (NASDAQ:GOLD)

Randgold Resources Ltd. engages in the exploration and development of gold deposits. Its projects include the following: Loulo-Gounkoto complex, Morila gold mine, Tongon gold mine, Kibali gold mine, and Massawa. The company was founded in August 1995 and is headquartered in St. Helier, the United Kingdom.

Further Reading: Understanding Compound Annual Growth Rate (CAGR)

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