Randgold Resources (GOLD) Cut to Neutral at JPMorgan Chase & Co.

Randgold Resources (NASDAQ:GOLD) was downgraded by analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research report issued on Tuesday, The Fly reports. They presently have a $68.00 price objective on the basic materials company’s stock. JPMorgan Chase & Co.’s price target indicates a potential downside of 3.37% from the company’s current price.

A number of other research analysts also recently issued reports on the stock. BidaskClub raised shares of Randgold Resources from a “sell” rating to a “hold” rating in a research report on Tuesday, June 26th. Clarus Securities reissued a “buy” rating on shares of Randgold Resources in a research report on Friday, August 10th. Scotiabank set a $98.00 price objective on shares of Randgold Resources and gave the company a “hold” rating in a research report on Thursday, August 9th. ValuEngine raised shares of Randgold Resources from a “strong sell” rating to a “sell” rating in a research report on Monday. Finally, Zacks Investment Research raised shares of Randgold Resources from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 8th. Three analysts have rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $87.00.

Shares of NASDAQ GOLD traded up $2.23 during mid-day trading on Tuesday, hitting $70.37. The stock had a trading volume of 158,855 shares, compared to its average volume of 593,467. Randgold Resources has a 1 year low of $59.90 and a 1 year high of $104.05. The company has a market cap of $6.03 billion, a price-to-earnings ratio of 24.59 and a beta of -0.14.

Randgold Resources (NASDAQ:GOLD) last issued its earnings results on Thursday, August 9th. The basic materials company reported $0.54 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.04). Randgold Resources had a return on equity of 5.88% and a net margin of 19.74%. The firm had revenue of $283.66 million during the quarter. equities analysts predict that Randgold Resources will post 2.93 EPS for the current year.

Several hedge funds have recently made changes to their positions in GOLD. Wells Fargo & Company MN boosted its holdings in shares of Randgold Resources by 0.7% during the 1st quarter. Wells Fargo & Company MN now owns 540,220 shares of the basic materials company’s stock valued at $44,968,000 after buying an additional 3,597 shares in the last quarter. Schroder Investment Management Group boosted its holdings in shares of Randgold Resources by 64.0% during the 1st quarter. Schroder Investment Management Group now owns 30,430 shares of the basic materials company’s stock valued at $2,533,000 after buying an additional 11,875 shares in the last quarter. Van ECK Associates Corp boosted its holdings in shares of Randgold Resources by 22.5% during the 1st quarter. Van ECK Associates Corp now owns 5,460,098 shares of the basic materials company’s stock valued at $454,499,000 after buying an additional 1,001,501 shares in the last quarter. Russell Investments Group Ltd. bought a new stake in shares of Randgold Resources during the 1st quarter valued at $716,000. Finally, Sei Investments Co. boosted its holdings in shares of 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 buying an additional 633 shares in the last quarter. Hedge funds and other institutional investors own 36.66% of the company’s stock.

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).

Featured Article: Determine Your Level of Risk Tolerance

The Fly

Analyst Recommendations for Randgold Resources (NASDAQ:GOLD)

Receive News & Ratings for Randgold Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Randgold Resources and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply