Zacks Investment Research Downgrades Randgold Resources (GOLD) to Sell

Randgold Resources (NASDAQ:GOLD) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Monday.

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 research analysts have also issued reports on GOLD. Investec upgraded shares of Randgold Resources from a “hold” rating to a “buy” rating in a report on Friday, November 3rd. UBS Group lowered shares of Randgold Resources from a “buy” rating to a “neutral” rating in a report on Thursday, November 9th. HC Wainwright reiterated a “buy” rating on shares of Randgold Resources in a report on Wednesday, November 22nd. Royal Bank of Canada upgraded shares of Randgold Resources to a “sector perform” rating in a report on Monday, December 4th. They noted that the move was a valuation call. Finally, Citigroup upgraded shares of Randgold Resources from a “neutral” rating to a “buy” rating in a report on Tuesday, December 5th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $75.70.

Randgold Resources (NASDAQ:GOLD) traded up $2.62 during trading on Monday, reaching $85.62. 728,538 shares of the company’s stock were exchanged, compared to its average volume of 700,153. The firm has a market cap of $7,807.70, a price-to-earnings ratio of 29.42 and a beta of -0.06. Randgold Resources has a 12 month low of $81.35 and a 12 month high of $108.29.

Randgold Resources (NASDAQ:GOLD) last released its earnings results on Monday, February 5th. The basic materials company reported $0.79 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.84 by ($0.05). The business had revenue of $328.62 million for the quarter. Randgold Resources had a return on equity of 7.13% and a net margin of 21.72%. analysts anticipate that Randgold Resources will post 3.77 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. OppenheimerFunds Inc. raised its holdings in shares of Randgold Resources by 6.0% in the 4th quarter. OppenheimerFunds Inc. now owns 264,952 shares of the basic materials company’s stock valued at $26,201,000 after purchasing an additional 15,000 shares in the last quarter. Timber Hill LLC acquired a new stake in shares of Randgold Resources in the 4th quarter valued at $2,806,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Randgold Resources in the 4th quarter valued at $7,424,000. Tower Research Capital LLC TRC raised its holdings in shares of Randgold Resources by 629.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,188 shares of the basic materials company’s stock valued at $315,000 after purchasing an additional 2,751 shares in the last quarter. Finally, UBS Asset Management Americas Inc. raised its holdings in shares of Randgold Resources by 9.1% in the 4th quarter. UBS Asset Management Americas Inc. now owns 20,410 shares of the basic materials company’s stock valued at $2,018,000 after purchasing an additional 1,695 shares in the last quarter. Institutional investors and hedge funds own 35.37% of the company’s stock.

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Randgold Resources 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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