Randgold Resources (GOLD) Trading 9.6% Higher

Randgold Resources Ltd. (NASDAQ:GOLD) shares traded up 9.6% during mid-day trading on Thursday . The stock traded as high as $78.96 and last traded at $78.16. 2,486,596 shares traded hands during mid-day trading, an increase of 276% from the average session volume of 661,896 shares. The stock had previously closed at $71.34.

Several research analysts recently issued reports on the stock. ValuEngine upgraded shares of Randgold Resources from a “sell” rating to a “hold” rating in a research note on Thursday. Zacks Investment Research lowered shares of Randgold Resources from a “hold” rating to a “sell” rating in a research note on Wednesday. BidaskClub upgraded shares of Randgold Resources from a “sell” rating to a “hold” rating in a research note on Friday, September 28th. Royal Bank of Canada upgraded shares of Randgold Resources from an “underperform” rating to a “sector perform” rating in a research note on Wednesday, September 26th. Finally, JPMorgan Chase & Co. lowered shares of Randgold Resources from an “overweight” rating to a “neutral” rating and set a $68.00 price target for the company. in a research note on Tuesday, September 25th. One equities research 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. The company currently has an average rating of “Buy” and an average price target of $87.00.

The stock has a market cap of $6.66 billion, a P/E ratio of 26.48 and a beta of -0.12.

Randgold Resources (NASDAQ:GOLD) last announced its quarterly earnings data on Thursday, August 9th. The basic materials company reported $0.54 EPS for the quarter, missing the Thomson Reuters’ 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 firm had revenue of $283.66 million for the quarter. As a group, sell-side analysts expect that Randgold Resources Ltd. will post 2.93 EPS for the current fiscal year.

A number of hedge funds have recently made changes to their positions in the stock. Sei Investments Co. grew its position in Randgold Resources by 27.1% during the 1st quarter. Sei Investments Co. now owns 2,971 shares of the basic materials company’s stock valued at $247,000 after purchasing an additional 633 shares during the last quarter. Crossmark Global Holdings Inc. boosted its holdings in shares of Randgold Resources by 6.2% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 14,452 shares of the basic materials company’s stock valued at $1,114,000 after acquiring an additional 838 shares during the last quarter. Hexavest Inc. boosted its holdings in shares of Randgold Resources by 14.3% during the 2nd quarter. Hexavest Inc. now owns 10,125 shares of the basic materials company’s stock valued at $781,000 after acquiring an additional 1,266 shares during the last quarter. Boyer & Corporon Wealth Management LLC boosted its holdings in shares of Randgold Resources by 3.2% during the 2nd quarter. Boyer & Corporon Wealth Management LLC now owns 49,339 shares of the basic materials company’s stock valued at $3,804,000 after acquiring an additional 1,534 shares during the last quarter. Finally, Commonwealth Equity Services LLC boosted its holdings in shares of Randgold Resources by 68.2% during the 1st quarter. Commonwealth Equity Services LLC now owns 3,823 shares of the basic materials company’s stock valued at $318,000 after acquiring an additional 1,550 shares during the last quarter. 36.66% of the stock is currently owned by institutional investors.

Randgold Resources Company Profile (NASDAQ:GOLD)

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).

Further Reading: Diversification

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