Zacks Investment Research upgraded shares of Randgold Resources Limited (NASDAQ:GOLD) from a hold rating to a buy rating in a report published on Wednesday morning. They currently have $98.00 target price 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 also recently issued reports on the stock. Royal Bank of Canada downgraded shares of Randgold Resources Limited from a sector perform rating to an underperform rating and set a $59.00 price objective for the company. in a report on Wednesday, March 8th. They noted that the move was a valuation call. Scotiabank increased their target price on shares of Randgold Resources Limited from $102.00 to $141.00 and gave the stock a sector perform rating in a research report on Friday, May 5th. Deutsche Bank AG lowered shares of Randgold Resources Limited from a buy rating to a hold rating in a research report on Friday, March 17th. CIBC upgraded shares of Randgold Resources Limited from a sector perform rating to a sector outperform rating in a research report on Friday, May 5th. Finally, J P Morgan Chase & Co reiterated an overweight rating and set a $107.00 target price (up previously from $105.00) on shares of Randgold Resources Limited in a research report on Monday, June 5th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $101.25.
Shares of Randgold Resources Limited (NASDAQ GOLD) traded up 1.44% during midday trading on Wednesday, reaching $87.14. 218,862 shares of the company’s stock traded hands. Randgold Resources Limited has a 52-week low of $67.54 and a 52-week high of $124.00.
Randgold Resources Limited (NASDAQ:GOLD) last announced its earnings results on Thursday, May 4th. The basic materials company reported $0.73 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.02. The company had revenue of $316.71 million during the quarter. Randgold Resources Limited had a net margin of 21.04% and a return on equity of 7.10%. Equities research analysts expect that Randgold Resources Limited will post $3.10 EPS for the current year.
Several institutional investors have recently added to or reduced their stakes in the stock. DekaBank Deutsche Girozentrale raised its position in Randgold Resources Limited by 10.9% in the first quarter. DekaBank Deutsche Girozentrale now owns 1,331 shares of the basic materials company’s stock worth $115,000 after buying an additional 131 shares during the period. ING Groep NV purchased a new position in Randgold Resources Limited during the first quarter worth approximately $236,000. Commerzbank Aktiengesellschaft FI raised its position in Randgold Resources Limited by 10.9% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 28,393 shares of the basic materials company’s stock worth $2,478,000 after buying an additional 2,781 shares during the period. Tocqueville Asset Management L.P. raised its position in Randgold Resources Limited by 2.1% in the first quarter. Tocqueville Asset Management L.P. now owns 745,630 shares of the basic materials company’s stock worth $65,079,000 after buying an additional 15,300 shares during the period. Finally, Oxbow Advisors LLC purchased a new position in Randgold Resources Limited during the first quarter worth approximately $724,000. Institutional investors own 36.39% of the company’s stock.
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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