Randgold Resources Ltd. (NASDAQ:GOLD) shares dropped 3.5% during trading on Thursday . The company traded as low as $118.58 and last traded at $121.00, with a volume of 1,443,294 shares trading hands. The stock had previously closed at $125.41.

GOLD has been the topic of a number of research analyst reports. Macquarie upgraded shares of Randgold Resources from a “neutral” rating to an “outperform” rating in a research note on Friday, July 1st. HSBC reiterated a “buy” rating on shares of Randgold Resources in a research note on Thursday. Deutsche Bank AG reiterated a “hold” rating on shares of Randgold Resources in a research note on Monday, May 9th. Zacks Investment Research upgraded shares of Randgold Resources from a “hold” rating to a “buy” rating and set a $99.00 price objective on the stock in a research note on Monday, April 4th. Finally, Goldman Sachs Group Inc. upgraded shares of Randgold Resources from a “neutral” rating to a “buy” rating in a research note on Monday, June 27th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have issued a buy rating to the company. Randgold Resources presently has an average rating of “Hold” and a consensus target price of $3,914.42.

The firm’s 50 day moving average is $97.78 and its 200 day moving average is $86.87. The stock has a market cap of $11.44 billion and a PE ratio of 59.06.

Randgold Resources (NASDAQ:GOLD) last announced its earnings results on Wednesday, May 4th. The company reported $0.58 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.02. Analysts predict that Randgold Resources Ltd. will post $2.96 earnings per share for the current year.

A number of institutional investors recently made changes to their positions in the company. I.G. Investment Management LTD. raised its position in shares of Randgold Resources by 8.4% in the fourth quarter. I.G. Investment Management LTD. now owns 335,884 shares of the company’s stock worth $20,801,000 after buying an additional 26,100 shares during the period. Bank of Montreal Can raised its position in shares of Randgold Resources by 35.7% in the fourth quarter. Bank of Montreal Can now owns 41,348 shares of the company’s stock worth $2,561,000 after buying an additional 10,869 shares during the period. Gamco Investors INC. ET AL raised its position in shares of Randgold Resources by 0.7% in the fourth quarter. Gamco Investors INC. ET AL now owns 29,080 shares of the company’s stock worth $1,801,000 after buying an additional 200 shares during the period. Finally, Commerzbank Aktiengesellschaft FI raised its position in shares of Randgold Resources by 15.2% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 88,488 shares of the company’s stock worth $5,480,000 after buying an additional 11,688 shares during the period.

Randgold Resources Limited is engaged in the 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 mines, such as Morila, Loulo, Gounkoto, Tongon and Kibali. The Company holds Morila Limited, which holds interests in the Morila mine in Mali.

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