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.
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