Zacks Investment Research upgraded shares of Randgold Resources (NASDAQ:GOLD) from a sell rating to a hold rating in a report released on Monday morning.
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 have also weighed in on the stock. JPMorgan Chase & Co. cut their target price on shares of Randgold Resources from $103.00 to $101.00 and set an overweight rating for the company in a report on Monday, February 12th. HSBC raised shares of Randgold Resources from a hold rating to a buy rating in a report on Thursday, February 8th. BidaskClub lowered shares of Randgold Resources from a hold rating to a sell rating in a report on Thursday, February 8th. Numis Securities lowered shares of Randgold Resources from a buy rating to an add rating in a report on Tuesday, February 6th. Finally, Scotiabank set a $101.00 target price on shares of Randgold Resources and gave the company a hold rating in a report on Monday, February 5th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company. Randgold Resources has an average rating of Hold and a consensus price target of $75.70.
Randgold Resources (NASDAQ:GOLD) last posted its earnings results on Monday, February 5th. The basic materials company reported $0.79 earnings per share for the quarter, missing the consensus estimate of $0.84 by ($0.05). The firm had revenue of $328.62 million for the quarter. Randgold Resources had a net margin of 21.72% and a return on equity of 7.13%. research analysts forecast that Randgold Resources will post 3.77 EPS for the current year.
The business also recently declared a None dividend, which will be paid on Friday, May 18th. Investors of record on Friday, March 23rd will be issued a $1.98 dividend. This represents a yield of 0.0233518103549947%. The ex-dividend date is Thursday, March 22nd. Randgold Resources’s payout ratio is presently 33.11%.
A number of hedge funds and other institutional investors have recently modified their holdings of GOLD. Ameriprise Financial Inc. increased its holdings in Randgold Resources by 8.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 5,674 shares of the basic materials company’s stock worth $502,000 after acquiring an additional 424 shares in the last quarter. Northern Trust Corp increased its holdings in Randgold Resources by 1.0% in the 2nd quarter. Northern Trust Corp now owns 86,585 shares of the basic materials company’s stock worth $7,659,000 after acquiring an additional 837 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Randgold Resources by 0.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,915 shares of the basic materials company’s stock worth $1,319,000 after acquiring an additional 56 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in Randgold Resources by 36.0% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 4,899 shares of the basic materials company’s stock worth $433,000 after acquiring an additional 1,298 shares in the last quarter. Finally, Fox Run Management L.L.C. purchased a new stake in Randgold Resources in the 3rd quarter worth $420,000. 35.11% of the stock is owned by institutional investors.
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About Randgold Resources
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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