Randgold Resources Limited (GOLD) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of Randgold Resources Limited (NASDAQ:GOLD) from a hold rating to a buy rating in a research note released on Wednesday. Zacks Investment Research currently has $113.00 price target on the basic materials company’s stock.
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 analysts have also weighed in on GOLD. J P Morgan Chase & Co reaffirmed an overweight rating and issued a $107.00 price objective (up from $105.00) on shares of Randgold Resources Limited in a research note on Monday, June 5th. BidaskClub lowered shares of Randgold Resources Limited from a buy rating to a hold rating in a research note on Tuesday, June 13th. Finally, HSBC Holdings plc reaffirmed a hold rating on shares of Randgold Resources Limited in a research note on Friday, July 7th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $105.00.
Shares of Randgold Resources Limited (NASDAQ GOLD) traded up 1.78% on Wednesday, reaching $100.15. 465,966 shares of the company were exchanged. Randgold Resources Limited has a 52 week low of $67.54 and a 52 week high of $108.29.
Randgold Resources Limited (NASDAQ:GOLD) last released its quarterly earnings data on Friday, August 4th. The basic materials company reported $0.88 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.14. Randgold Resources Limited had a net margin of 22.75% and a return on equity of 7.89%. The company had revenue of $336.79 million during the quarter. Equities analysts anticipate that Randgold Resources Limited will post $3.30 EPS for the current year.
Institutional investors have recently made changes to their positions in the stock. Schroder Investment Management Group raised its position in shares of Randgold Resources Limited by 40.1% in the 1st quarter. Schroder Investment Management Group now owns 149,895 shares of the basic materials company’s stock valued at $12,952,000 after purchasing an additional 42,905 shares during the last quarter. Federated Investors Inc. PA purchased a new position in shares of Randgold Resources Limited in the 2nd quarter valued at approximately $7,745,000. Van ECK Associates Corp raised its position in shares of Randgold Resources Limited by 5.4% in the 1st quarter. Van ECK Associates Corp now owns 6,959,189 shares of the basic materials company’s stock valued at $607,398,000 after purchasing an additional 354,789 shares during the last quarter. Ameriprise Financial Inc. raised its position in shares of Randgold Resources Limited by 15.8% in the 1st quarter. Ameriprise Financial Inc. now owns 5,250 shares of the basic materials company’s stock valued at $461,000 after purchasing an additional 716 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale raised its position in shares of Randgold Resources Limited by 145.5% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 3,268 shares of the basic materials company’s stock valued at $287,000 after purchasing an additional 1,937 shares during the last quarter. 35.65% of the stock is owned by hedge funds and other institutional investors.
Randgold Resources Limited 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).
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