Randgold Resources (GOLD) Cut to “Sell” at Zacks Investment Research

Zacks Investment Research lowered shares of Randgold Resources (NASDAQ:GOLD) from a hold rating to a sell rating in a research report released 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. “

Other analysts also recently issued reports about the company. UBS Group upgraded Randgold Resources from a neutral rating to a buy rating in a research note on Wednesday, August 29th. Desjardins upgraded Randgold Resources from a hold rating to a buy rating and set a $95.00 target price on the stock in a research note on Friday, August 17th. Clarus Securities reiterated a buy rating on shares of Randgold Resources in a research note on Friday, August 10th. BidaskClub upgraded Randgold Resources from a sell rating to a hold rating in a research note on Tuesday, June 26th. Finally, Scotiabank set a $98.00 target price on Randgold Resources and gave the company a hold rating in a research note on Thursday, August 9th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the company’s stock. Randgold Resources has a consensus rating of Buy and an average target price of $87.00.

GOLD traded down $0.83 during trading on Wednesday, hitting $77.33. 1,520,244 shares of the company’s stock traded hands, compared to its average volume of 666,433. Randgold Resources has a 12-month low of $59.90 and a 12-month high of $104.05. The company has a market cap of $6.66 billion, a price-to-earnings ratio of 26.48 and a beta of -0.12.

Randgold Resources (NASDAQ:GOLD) last issued its earnings results on Thursday, August 9th. The basic materials company reported $0.54 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.04). Randgold Resources had a net margin of 19.74% and a return on equity of 5.88%. The business had revenue of $283.66 million for the quarter. Equities analysts expect that Randgold Resources will post 2.93 earnings per share for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in the company. Bank of Montreal Can boosted its stake in shares of Randgold Resources by 224.4% in the 3rd quarter. Bank of Montreal Can now owns 129,937 shares of the basic materials company’s stock worth $9,167,000 after buying an additional 89,887 shares during the last quarter. United Services Automobile Association boosted its stake in shares of Randgold Resources by 19.1% in the 2nd quarter. United Services Automobile Association now owns 373,700 shares of the basic materials company’s stock worth $28,809,000 after buying an additional 60,000 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Randgold Resources by 2.5% in the 2nd quarter. Northern Trust Corp now owns 92,296 shares of the basic materials company’s stock worth $7,115,000 after buying an additional 2,210 shares during the last quarter. Schroder Investment Management Group boosted its stake in shares of Randgold Resources by 320.8% in the 2nd quarter. Schroder Investment Management Group now owns 128,035 shares of the basic materials company’s stock worth $9,630,000 after buying an additional 97,605 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its position in Randgold Resources by 467.0% during the second quarter. Tower Research Capital LLC TRC now owns 6,401 shares of the basic materials company’s stock valued at $493,000 after purchasing an additional 5,272 shares in the last quarter. Hedge funds and other institutional investors own 36.66% of the company’s stock.

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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