Investec upgraded shares of Randgold Resources Limited (NASDAQ:GOLD) from a hold rating to a buy rating in a research note issued to investors on Friday, MarketBeat reports.

Several other research analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of Randgold Resources Limited from a buy rating to a hold rating in a report on Wednesday, August 30th. BidaskClub raised shares of Randgold Resources Limited from a sell rating to a hold rating in a report on Thursday, July 20th. Finally, HSBC Holdings plc reissued a hold rating on shares of Randgold Resources Limited in a report on Friday, July 7th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $105.00.

Randgold Resources Limited (NASDAQ GOLD) traded up $0.90 during trading on Friday, reaching $92.16. 90,801 shares of the company’s stock traded hands, compared to its average volume of 450,865. The stock has a market capitalization of $8,584.71, a P/E ratio of 30.94 and a beta of -0.07.

Randgold Resources Limited (NASDAQ:GOLD) last released its quarterly earnings results on Friday, August 4th. The basic materials company reported $0.88 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.14. The firm had revenue of $336.79 million for the quarter. Randgold Resources Limited had a net margin of 21.49% and a return on equity of 7.32%. equities research analysts predict that Randgold Resources Limited will post 3.23 EPS for the current year.

ILLEGAL ACTIVITY WARNING: This article was first posted by Watch List News and is owned by of Watch List News. If you are accessing this article on another website, it was illegally stolen and reposted in violation of United States and international copyright and trademark law. The correct version of this article can be accessed at https://www.watchlistnews.com/randgold-resources-limited-gold-raised-to-buy-at-investec/1682754.html.

Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. increased its holdings in shares of Randgold Resources Limited by 7.8% during the second quarter. BlackRock Inc. now owns 9,333,067 shares of the basic materials company’s stock worth $825,605,000 after purchasing an additional 671,684 shares during the period. Capital World Investors boosted its position in shares of Randgold Resources Limited by 102.9% during the 2nd quarter. Capital World Investors now owns 1,007,000 shares of the basic materials company’s stock worth $89,079,000 after acquiring an additional 510,800 shares in the last quarter. Gabelli Funds LLC boosted its position in shares of Randgold Resources Limited by 16.2% during the 2nd quarter. Gabelli Funds LLC now owns 915,800 shares of the basic materials company’s stock worth $81,012,000 after acquiring an additional 127,500 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Randgold Resources Limited by 218.0% during the 2nd quarter. Renaissance Technologies LLC now owns 326,600 shares of the basic materials company’s stock worth $28,891,000 after acquiring an additional 223,900 shares in the last quarter. Finally, Alps Advisors Inc. boosted its position in shares of Randgold Resources Limited by 2.3% during the 2nd quarter. Alps Advisors Inc. now owns 315,619 shares of the basic materials company’s stock worth $27,920,000 after acquiring an additional 6,966 shares in the last quarter. 35.67% of the stock is currently owned by institutional investors.

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).

Analyst Recommendations for Randgold Resources Limited (NASDAQ:GOLD)

Receive News & Ratings for Randgold Resources Limited Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Randgold Resources Limited and related companies with Analyst Ratings Network's FREE daily email newsletter.