Randgold Resources Limited (GOLD) Rating Increased to Buy 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 report sent to investors on Wednesday morning. They currently have $113.00 price objective 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. “
Several other brokerages also recently commented on GOLD. J P Morgan Chase & Co reiterated an overweight rating and set a $107.00 price target (up previously from $105.00) on shares of Randgold Resources Limited in a report on Monday, June 5th. BidaskClub downgraded Randgold Resources Limited from a buy rating to a hold rating in a report on Tuesday, June 13th. Finally, HSBC Holdings plc reiterated a hold rating on shares of Randgold Resources Limited in a report on Friday, July 7th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $105.00.
Randgold Resources Limited (GOLD) opened at 100.15 on Wednesday. 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 announced its quarterly earnings results on Friday, August 4th. The basic materials company reported $0.88 EPS for the quarter, beating the consensus estimate of $0.74 by $0.14. Randgold Resources Limited had a return on equity of 7.89% and a net margin of 22.75%. The company had revenue of $336.79 million for the quarter. Analysts anticipate that Randgold Resources Limited will post $3.30 EPS for the current year.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd boosted its position in shares of Randgold Resources Limited by 302.8% in the second quarter. Dynamic Technology Lab Private Ltd now owns 11,883 shares of the basic materials company’s stock valued at $1,051,000 after acquiring an additional 8,933 shares during the period. Raymond James Financial Services Advisors Inc. lifted its position in Randgold Resources Limited by 36.0% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 4,899 shares of the basic materials company’s stock worth $433,000 after purchasing an additional 1,298 shares during the period. Quadrant Capital Group LLC lifted its position in Randgold Resources Limited by 11.2% in 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 period. The Manufacturers Life Insurance Company lifted its position in Randgold Resources Limited by 0.4% in the second quarter. The Manufacturers Life Insurance Company now owns 14,915 shares of the basic materials company’s stock worth $1,319,000 after purchasing an additional 56 shares during the period. Finally, BlueCrest Capital Management Ltd bought a new position in Randgold Resources Limited in the second quarter worth $901,000. 35.65% of the stock is owned by 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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