Randgold Resources (GOLD) Downgraded to “Hold” at BidaskClub

Randgold Resources (NASDAQ:GOLD) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

Other analysts also recently issued reports about the company. Clarus Securities reiterated a “buy” rating on shares of Randgold Resources in a report on Friday, August 10th. Scotiabank set a $98.00 price target on Randgold Resources and gave the stock a “hold” rating in a report on Thursday, August 9th. JPMorgan Chase & Co. downgraded Randgold Resources from an “overweight” rating to a “neutral” rating and set a $68.00 price target for the company. in a report on Tuesday, September 25th. ValuEngine upgraded Randgold Resources from a “strong sell” rating to a “sell” rating in a research note on Monday, September 24th. Finally, Zacks Investment Research upgraded Randgold Resources from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 8th. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $87.00.

Shares of Randgold Resources stock opened at $81.15 on Friday. Randgold Resources has a 1-year low of $59.90 and a 1-year high of $104.05. The stock has a market cap of $7.75 billion, a price-to-earnings ratio of 27.79 and a beta of -0.29.

Randgold Resources (NASDAQ:GOLD) last issued its quarterly earnings results on Tuesday, November 6th. The basic materials company reported $0.64 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.03. Randgold Resources had a return on equity of 5.88% and a net margin of 19.74%. The firm had revenue of $243.57 million during the quarter. Sell-side analysts predict that Randgold Resources will post 2.7 earnings per share for the current year.

Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. grew its stake in shares of Randgold Resources by 2.5% in the 2nd quarter. BlackRock Inc. now owns 9,209,563 shares of the basic materials company’s stock valued at $709,966,000 after buying an additional 222,064 shares during the period. Van ECK Associates Corp grew its stake in shares of Randgold Resources by 8.1% in the 2nd quarter. Van ECK Associates Corp now owns 5,901,484 shares of the basic materials company’s stock valued at $454,945,000 after buying an additional 441,386 shares during the period. FMR LLC grew its stake in shares of Randgold Resources by 13.5% in the 3rd quarter. FMR LLC now owns 2,238,231 shares of the basic materials company’s stock valued at $157,907,000 after buying an additional 266,142 shares during the period. Renaissance Technologies LLC grew its stake in shares of Randgold Resources by 68.1% in the 2nd quarter. Renaissance Technologies LLC now owns 1,199,362 shares of the basic materials company’s stock valued at $92,459,000 after buying an additional 485,862 shares during the period. Finally, Gabelli Funds LLC grew its stake in shares of Randgold Resources by 9.2% in the 3rd quarter. Gabelli Funds LLC now owns 865,100 shares of the basic materials company’s stock valued at $61,033,000 after buying an additional 72,800 shares during the period. Institutional investors own 36.90% of the company’s stock.

About Randgold Resources

Randgold Resources Ltd. engages in the exploration and development of gold deposits. Its projects include the following: Loulo-Gounkoto complex, Morila gold mine, Tongon gold mine, Kibali gold mine, and Massawa. The company was founded in August 1995 and is headquartered in St. Helier, the United Kingdom.

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