Randgold Resources (LON:RRS) was upgraded by equities researchers at HSBC to a “buy” rating in a report released on Thursday. The brokerage presently has a GBX 7,700 ($107.96) price objective on the stock, down from their previous price objective of GBX 7,800 ($109.37). HSBC’s target price would suggest a potential upside of 27.95% from the stock’s previous close.
A number of other brokerages have also issued reports on RRS. Barclays reissued an “overweight” rating and set a GBX 8,000 ($112.17) target price on shares of Randgold Resources in a research note on Tuesday, October 24th. Berenberg Bank reissued a “buy” rating and set a GBX 7,400 ($103.76) target price on shares of Randgold Resources in a research note on Thursday, November 2nd. Jefferies Group reissued a “buy” rating and set a GBX 9,000 ($126.19) target price on shares of Randgold Resources in a research note on Thursday, October 19th. JPMorgan Chase & Co. lowered their target price on shares of Randgold Resources from GBX 7,100 ($99.55) to GBX 7,000 ($98.15) and set a “neutral” rating for the company in a research note on Thursday, January 11th. Finally, Credit Suisse Group reissued a “neutral” rating and set a GBX 7,160 ($100.39) target price on shares of Randgold Resources in a research note on Tuesday, January 30th. Eight analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of GBX 7,784.71 ($109.15).
Shares of Randgold Resources (LON:RRS) traded down GBX 50 ($0.70) on Thursday, hitting GBX 6,018 ($84.38). 798,645 shares of the stock were exchanged, compared to its average volume of 524,045. The stock has a market capitalization of $5,670.00 and a price-to-earnings ratio of 2,838.68. Randgold Resources has a 1 year low of GBX 5,976 ($83.79) and a 1 year high of GBX 8,255 ($115.75).
About Randgold Resources
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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