Zacks Investment Research Downgrades Randgold Resources Limited (GOLD) to Hold
Randgold Resources Limited (NASDAQ:GOLD) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.
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 recently issued reports on the company. BidaskClub cut Randgold Resources Limited from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. HSBC Holdings plc restated 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, eight have assigned a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $105.00.
Shares of Randgold Resources Limited (NASDAQ GOLD) traded up 0.75% on Wednesday, reaching $98.32. The company had a trading volume of 223,641 shares. Randgold Resources Limited has a 12 month low of $67.54 and a 12 month high of $108.29.
Randgold Resources Limited (NASDAQ:GOLD) last issued its earnings results on Friday, August 4th. The basic materials company reported $0.88 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.14. The business had revenue of $336.79 million for the quarter. Randgold Resources Limited had a return on equity of 7.89% and a net margin of 22.75%. Equities research analysts predict that Randgold Resources Limited will post $3.33 earnings per share for the current fiscal year.
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Hedge funds have recently modified their holdings of the company. Smith Affiliated Capital Corp. grew its holdings in shares of Randgold Resources Limited by 4.0% during the second quarter. Smith Affiliated Capital Corp. now owns 1,310 shares of the basic materials company’s stock valued at $116,000 after buying an additional 50 shares in the last quarter. Acrospire Investment Management LLC grew its holdings in shares of Randgold Resources Limited by 40.0% during the second quarter. Acrospire Investment Management LLC now owns 1,400 shares of the basic materials company’s stock valued at $124,000 after buying an additional 400 shares in the last quarter. Creative Planning grew its holdings in shares of Randgold Resources Limited by 41.3% during the second quarter. Creative Planning now owns 1,540 shares of the basic materials company’s stock valued at $136,000 after buying an additional 450 shares in the last quarter. Twin Tree Management LP purchased a new position in shares of Randgold Resources Limited during the second quarter valued at $160,000. Finally, Quadrant Capital Group LLC grew its holdings in shares of Randgold Resources Limited by 11.2% during the second quarter. Quadrant Capital Group LLC now owns 1,939 shares of the basic materials company’s stock valued at $162,000 after buying an additional 195 shares in the last quarter. Institutional investors and hedge funds own 35.65% 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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