Randgold Resources Limited (GOLD) Cut to “Hold” at Zacks Investment Research
Randgold Resources Limited (NASDAQ:GOLD) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.
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. “
Several other equities analysts also recently weighed in on GOLD. BidaskClub downgraded Randgold Resources Limited from a “buy” rating to a “hold” rating in a research report on Tuesday, June 13th. HSBC Holdings plc reaffirmed a “hold” rating on shares of Randgold Resources Limited in a research report on Friday, July 7th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $105.00.
Randgold Resources Limited (GOLD) traded up 0.75% during mid-day trading on Wednesday, reaching $98.32. 223,641 shares of the company were exchanged. Randgold Resources Limited has a 1-year low of $67.54 and a 1-year high of $108.29.
Randgold Resources Limited (NASDAQ:GOLD) last released its earnings results on Friday, August 4th. The basic materials company reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.14. The company had revenue of $336.79 million during the quarter. Randgold Resources Limited had a return on equity of 7.89% and a net margin of 22.75%. Equities analysts predict that Randgold Resources Limited will post $3.33 EPS for the current fiscal year.
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Several institutional investors and hedge funds have recently made changes to their positions in GOLD. Smith Affiliated Capital Corp. boosted its stake in shares of Randgold Resources Limited by 4.0% in the 2nd quarter. Smith Affiliated Capital Corp. now owns 1,310 shares of the basic materials company’s stock valued at $116,000 after buying an additional 50 shares during the period. Acrospire Investment Management LLC lifted its stake in Randgold Resources Limited by 40.0% during the second quarter. Acrospire Investment Management LLC now owns 1,400 shares of the basic materials company’s stock worth $124,000 after purchasing an additional 400 shares during the last quarter. Creative Planning lifted its stake in Randgold Resources Limited by 41.3% during the second quarter. Creative Planning now owns 1,540 shares of the basic materials company’s stock worth $136,000 after purchasing an additional 450 shares during the last quarter. Twin Tree Management LP purchased a new stake in Randgold Resources Limited during the second quarter worth approximately $160,000. Finally, Quadrant Capital Group LLC lifted its stake in Randgold Resources Limited by 11.2% during the second quarter. Quadrant Capital Group LLC now owns 1,939 shares of the basic materials company’s stock worth $162,000 after purchasing an additional 195 shares during the last quarter. Institutional investors and hedge funds own 35.65% of the company’s stock.
About Randgold Resources Limited
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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