Randgold Resources Ltd. (NASDAQ:GOLD) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
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 commented on the stock. Deutsche Bank AG restated a “hold” rating on shares of Randgold Resources in a report on Wednesday, September 7th. Berenberg Bank initiated coverage on shares of Randgold Resources in a research note on Wednesday, September 7th. They issued a “hold” rating on the stock. Canaccord Genuity upgraded shares of Randgold Resources from a “hold” rating to a “buy” rating in a research note on Thursday, September 1st. Citigroup Inc. reiterated a “sell” rating on shares of Randgold Resources in a research note on Thursday, August 18th. Finally, Morgan Stanley lowered shares of Randgold Resources from an “equal weight” rating to an “underweight” rating in a research note on Monday, July 25th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $101.00.
Shares of Randgold Resources (NASDAQ:GOLD) opened at 84.70 on Tuesday. Randgold Resources has a one year low of $58.77 and a one year high of $126.55. The company has a market capitalization of $7.93 billion, a PE ratio of 41.91 and a beta of 0.39. The company has a 50-day moving average of $97.11 and a 200-day moving average of $99.63.
Hedge funds have recently made changes to their positions in the company. M&T Bank Corp bought a new stake in shares of Randgold Resources during the first quarter valued at approximately $1,291,000. BB&T Securities LLC bought a new stake in shares of Randgold Resources during the first quarter valued at approximately $352,000. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Randgold Resources by 0.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,363 shares of the company’s stock valued at $2,848,000 after buying an additional 263 shares during the last quarter. Cypress Wealth Advisors LLC bought a new stake in shares of Randgold Resources during the first quarter valued at approximately $204,000. Finally, Geode Capital Management LLC increased its stake in shares of Randgold Resources by 9.6% in the first quarter. Geode Capital Management LLC now owns 20,594 shares of the company’s stock valued at $1,870,000 after buying an additional 1,808 shares during the last quarter. 42.81% of the stock is owned by institutional investors and hedge funds.
About Randgold Resources
Randgold Resources Limited is engaged in the 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 mines, such as Morila, Loulo, Gounkoto, Tongon and Kibali. The Company holds Morila Limited, which holds interests in the Morila mine in Mali.
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