Zacks Investment Research upgraded shares of Randgold Resources (NASDAQ:GOLD) from a sell rating to a hold rating in a report issued on Wednesday morning.
According to Zacks, “Barrick Gold Corporation is a leading international gold producer with low-cost mines in North and South America. “
A number of other brokerages have also recently commented on GOLD. ValuEngine cut shares of Randgold Resources from a sell rating to a strong sell rating in a research note on Friday, September 14th. BidaskClub raised shares of Randgold Resources from a hold rating to a buy rating in a research note on Tuesday, December 11th. JPMorgan Chase & Co. cut shares of Randgold Resources from an overweight rating to a neutral rating and set a $68.00 price objective on the stock. in a research note on Tuesday, September 25th. TheStreet raised shares of Randgold Resources from a c+ rating to a b- rating in a research note on Monday, December 31st. Finally, Macquarie cut shares of Randgold Resources from an outperform rating to a neutral rating in a research note on Monday, October 22nd. They noted that the move was a valuation call. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $87.00.
Shares of GOLD traded down $70.45 during trading hours on Wednesday, reaching $12.44. The company had a trading volume of 14,133,736 shares, compared to its average volume of 16,711,100. The company has a market capitalization of $7.83 billion, a PE ratio of 4.26 and a beta of -0.23. Randgold Resources has a 12-month low of $9.53 and a 12-month high of $15.52.
Randgold Resources (NASDAQ:GOLD) last issued its quarterly earnings data on Wednesday, October 24th. The basic materials company reported $0.08 EPS for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.02. The firm had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.81 billion. Randgold Resources had a net margin of 21.82% and a return on equity of 6.16%. As a group, equities analysts forecast that Randgold Resources will post 2.62 EPS for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the business. Signaturefd LLC boosted its stake in shares of Randgold Resources by 97.1% during the 3rd quarter. Signaturefd LLC now owns 1,516 shares of the basic materials company’s stock worth $107,000 after purchasing an additional 747 shares during the last quarter. Cornerstone Wealth Management LLC lifted its holdings in shares of Randgold Resources by 29.9% during the 3rd quarter. Cornerstone Wealth Management LLC now owns 18,230 shares of the basic materials company’s stock worth $185,000 after acquiring an additional 4,198 shares during the period. Wetherby Asset Management Inc. purchased a new position in shares of Randgold Resources during the 3rd quarter worth about $229,000. Valeo Financial Advisors LLC purchased a new position in shares of Randgold Resources during the 3rd quarter worth about $236,000. Finally, Advisors Asset Management Inc. purchased a new position in shares of Randgold Resources during the 3rd quarter worth about $252,000. 39.71% of the stock is currently owned by institutional investors.
Randgold Resources Company Profile
Randgold Resources Ltd. engages in the exploration and development of gold deposits. Its projects include the following: Loulo-Gounkoto complex, Morila gold mine, Tongon gold mine, Kibali gold mine, and Massawa. The company was founded in August 1995 and is headquartered in St. Helier, the United Kingdom.
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