Zacks Investment Research upgraded shares of Randgold Resources Ltd. (NASDAQ:GOLD) from a hold rating to a buy rating in a research note released on Wednesday. Zacks Investment Research currently has $101.00 price objective on the stock.
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. “
Several other equities analysts also recently issued reports on the company. Macquarie upgraded Randgold Resources from a neutral rating to an outperform rating in a research report on Friday, July 1st. HSBC reiterated a buy rating on shares of Randgold Resources in a research report on Thursday, July 7th. Citigroup Inc. reiterated a sell rating on shares of Randgold Resources in a research report on Thursday, August 18th. Goldman Sachs Group Inc. upgraded Randgold Resources from a neutral rating to a buy rating in a research report on Monday, June 27th. Finally, Morgan Stanley downgraded Randgold Resources from an equal weight rating to an underweight rating in a research report on Monday, July 25th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. Randgold Resources has an average rating of Hold and a consensus target price of $101.00.
Randgold Resources (NASDAQ:GOLD) opened at 86.96 on Wednesday. The company has a 50 day moving average price of $98.32 and a 200-day moving average price of $99.85. The firm has a market cap of $8.15 billion, a price-to-earnings ratio of 43.03 and a beta of 0.38. Randgold Resources has a 52-week low of $58.77 and a 52-week high of $126.55.
Several large investors have recently added to or reduced their stakes in GOLD. Acadian Asset Management LLC purchased a new stake in Randgold Resources during the first quarter worth $501,000. BlackRock Inc. increased its stake in Randgold Resources by 0.4% in the first quarter. BlackRock Inc. now owns 423,602 shares of the company’s stock worth $38,467,000 after buying an additional 1,735 shares during the last quarter. BlackRock Fund Advisors increased its stake in Randgold Resources by 160.8% in the first quarter. BlackRock Fund Advisors now owns 14,905 shares of the company’s stock worth $1,354,000 after buying an additional 9,190 shares during the last quarter. M&T Bank Corp purchased a new stake in Randgold Resources during the first quarter worth $1,291,000. Finally, BB&T Securities LLC purchased a new stake in Randgold Resources during the first quarter worth $352,000. Institutional investors own 42.81% of the company’s stock.
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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