Randgold Resources Ltd. (GOLD) Upgraded to “Overweight” by Morgan Stanley
Randgold Resources Ltd. (NASDAQ:GOLD) was upgraded by research analysts at Morgan Stanley from an “underweight” rating to an “overweight” rating in a research note issued to investors on Thursday.
Other equities analysts have also issued research reports about the company. Citigroup Inc. reissued a “sell” rating on shares of Randgold Resources in a research note on Thursday, August 18th. Deutsche Bank AG restated a “hold” rating on shares of Randgold Resources in a report on Wednesday, August 10th. Zacks Investment Research downgraded Randgold Resources from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 7th. Scotiabank upgraded Randgold Resources from a “sector perform” rating to an “outperform” rating in a report on Monday, November 7th. Finally, BMO Capital Markets upgraded Randgold Resources from a “market perform” rating to an “outperform” rating in a report on Wednesday, November 9th. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $101.00.
Shares of Randgold Resources (NASDAQ:GOLD) traded down 1.74% during midday trading on Thursday, reaching $70.63. The company’s stock had a trading volume of 330,103 shares. Randgold Resources has a 12-month low of $59.08 and a 12-month high of $126.55. The company has a market cap of $6624.67 billion, a P/E ratio of 35.14 and a beta of 0.28. The stock’s 50-day moving average price is $81.87 and its 200-day moving average price is $97.27.
Randgold Resources (NASDAQ:GOLD) last posted its earnings results on Thursday, November 3rd. The company reported $0.69 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.13 by $0.44. Randgold Resources had a return on equity of 5.98% and a net margin of 19.12%. On average, analysts expect that Randgold Resources will post $2.92 EPS for the current fiscal year.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Financial Architects Inc purchased a new position in Randgold Resources during the third quarter worth about $110,000. Checchi Capital Advisers LLC increased its position in Randgold Resources by 4.7% in the second quarter. Checchi Capital Advisers LLC now owns 1,004 shares of the company’s stock worth $112,000 after buying an additional 45 shares in the last quarter. Camarda Financial Advisors LLC purchased a new position in Randgold Resources during the second quarter worth about $126,000. Seven Eight Capital LLC increased its position in Randgold Resources by 500.0% in the second quarter. Seven Eight Capital LLC now owns 1,200 shares of the company’s stock worth $134,000 after buying an additional 1,000 shares in the last quarter. Finally, Thompson Davis & CO. Inc. increased its position in Randgold Resources by 512.5% in the second quarter. Thompson Davis & CO. Inc. now owns 1,225 shares of the company’s stock worth $137,000 after buying an additional 1,025 shares in the last quarter. Hedge funds and other institutional investors own 38.78% of the company’s stock.
Randgold Resources Company Profile
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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