Randgold Resources (GOLD) Cut to “Neutral” at J P Morgan Chase & Co

Randgold Resources (NASDAQ:GOLD) was downgraded by investment analysts at J P Morgan Chase & Co from an “overweight” rating to a “neutral” rating in a research report issued to clients and investors on Thursday, The Fly reports.

Other research analysts also recently issued research reports about the stock. Desjardins reaffirmed a “hold” rating on shares of Randgold Resources in a research note on Monday. HC Wainwright reaffirmed a “buy” rating on shares of Randgold Resources in a research note on Wednesday, November 22nd. Zacks Investment Research downgraded shares of Randgold Resources from a “buy” rating to a “hold” rating in a research note on Wednesday, August 30th. BidaskClub downgraded shares of Randgold Resources from a “hold” rating to a “sell” rating in a research note on Wednesday, December 6th. Finally, Royal Bank of Canada raised shares of Randgold Resources to a “sector perform” rating in a research note on Monday, December 4th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $84.90.

Shares of Randgold Resources (GOLD) traded up $1.97 during mid-day trading on Thursday, reaching $92.44. 828,300 shares of the company traded hands, compared to its average volume of 660,110. Randgold Resources has a 12-month low of $67.54 and a 12-month high of $108.29. The firm has a market cap of $8,510.40, a P/E ratio of 30.67 and a beta of -0.11.

Several large investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company grew its holdings in shares of Randgold Resources by 0.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,915 shares of the basic materials company’s stock worth $1,319,000 after purchasing an additional 56 shares during the period. Wetherby Asset Management Inc. grew its holdings in shares of Randgold Resources by 2.0% during the 2nd quarter. Wetherby Asset Management Inc. now owns 3,104 shares of the basic materials company’s stock worth $274,000 after purchasing an additional 62 shares during the period. Quadrant Capital Group LLC grew its holdings in shares of Randgold Resources by 11.2% during the 2nd quarter. Quadrant Capital Group LLC now owns 1,939 shares of the basic materials company’s stock worth $162,000 after purchasing an additional 195 shares during the period. Advisor Group Inc. grew its holdings in shares of Randgold Resources by 9.7% during the 2nd quarter. Advisor Group Inc. now owns 2,815 shares of the basic materials company’s stock worth $248,000 after purchasing an additional 250 shares during the period. Finally, Acrospire Investment Management LLC grew its holdings in shares of Randgold Resources by 40.0% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,400 shares of the basic materials company’s stock worth $124,000 after purchasing an additional 400 shares during the period. Institutional investors and hedge funds own 35.18% 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).