Randgold Resources Ltd. (GOLD) Downgraded by Zacks Investment Research to Hold
Randgold Resources Ltd. (NASDAQ:GOLD) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Tuesday.
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 equities analysts have also issued reports on GOLD. Deutsche Bank AG reaffirmed a “hold” rating on shares of Randgold Resources in a research report on Wednesday, August 10th. Berenberg Bank started coverage on Randgold Resources in a research report on Wednesday, September 7th. They set a “hold” rating on the stock. Scotiabank lowered Randgold Resources from a “sector perform” rating to an “underperform” rating in a research report on Wednesday, July 13th. Investec reissued a “buy” rating on shares of Randgold Resources in a research report on Tuesday, July 19th. Finally, Jefferies Group raised Randgold Resources from a “hold” rating to a “buy” rating in a research report on Thursday, July 14th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company. Randgold Resources presently has an average rating of “Hold” and a consensus price target of $101.00.
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Shares of Randgold Resources (NASDAQ:GOLD) opened at 86.96 on Tuesday. Randgold Resources has a 12 month low of $58.77 and a 12 month high of $126.55. The stock has a market capitalization of $8.15 billion, a price-to-earnings ratio of 43.03 and a beta of 0.38. The firm’s 50 day moving average is $98.32 and its 200 day moving average is $99.85.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in GOLD. M&T Bank Corp acquired a new position in Randgold Resources during the first quarter valued at about $1,291,000. BB&T Securities LLC acquired a new position in Randgold Resources during the first quarter valued at about $352,000. Mirae Asset Global Investments Co. Ltd. boosted its position in Randgold Resources by 0.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,363 shares of the company’s stock valued at $2,848,000 after buying an additional 263 shares during the last quarter. Cypress Wealth Advisors LLC acquired a new position in Randgold Resources during the first quarter valued at about $204,000. Finally, Geode Capital Management LLC boosted its position in Randgold Resources by 9.6% in the first quarter. Geode Capital Management LLC now owns 20,594 shares of the company’s stock valued at $1,870,000 after buying an additional 1,808 shares during the last quarter. 42.81% of the stock is owned by institutional investors.
About Randgold Resources
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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