Randgold Resources (GOLD) Rating Increased to Hold at Zacks Investment Research

Randgold Resources (NASDAQ:GOLD) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

According to Zacks, “Barrick Gold Corporation is a leading international gold producer with low-cost mines in North and South America. “

Several other equities analysts have also recently weighed in on the stock. Barclays began coverage on shares of Randgold Resources in a research report on Wednesday. They set an “overweight” rating on the stock. TheStreet upgraded shares of Randgold Resources from a “c+” rating to a “b-” rating in a research report on Monday, December 31st. CIBC upgraded shares of Randgold Resources from a “neutral” rating to an “outperform” rating in a research report on Wednesday, January 2nd. BidaskClub cut shares of Randgold Resources from a “strong-buy” rating to a “buy” rating in a research report on Monday, December 31st. Finally, ValuEngine upgraded shares of Randgold Resources from a “hold” rating to a “buy” rating in a research report on Tuesday, November 20th. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $87.00.

NASDAQ GOLD opened at $12.36 on Wednesday. Randgold Resources has a twelve month low of $9.53 and a twelve month high of $15.52. The company has a market cap of $7.83 billion, a price-to-earnings ratio of 4.23 and a beta of -0.23.

Randgold Resources (NASDAQ:GOLD) last posted its quarterly earnings data on Wednesday, October 24th. The basic materials company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.02. Randgold Resources had a net margin of 21.82% and a return on equity of 6.16%. The firm had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.81 billion. As a group, equities analysts anticipate that Randgold Resources will post 2.62 earnings per share for the current year.

Several large investors have recently modified their holdings of GOLD. Sei Investments Co. boosted its stake in shares of Randgold Resources by 27.9% during the 2nd quarter. Sei Investments Co. now owns 3,799 shares of the basic materials company’s stock valued at $293,000 after buying an additional 828 shares during the period. Caisse DE Depot ET Placement DU Quebec acquired a new stake in shares of Randgold Resources during the 2nd quarter valued at $3,107,000. OppenheimerFunds Inc. boosted its stake in shares of Randgold Resources by 5.7% during the 2nd quarter. OppenheimerFunds Inc. now owns 391,952 shares of the basic materials company’s stock valued at $30,216,000 after buying an additional 21,000 shares during the period. Natixis boosted its stake in shares of Randgold Resources by 49.0% during the 2nd quarter. Natixis now owns 40,845 shares of the basic materials company’s stock valued at $3,149,000 after buying an additional 13,438 shares during the period. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Randgold Resources by 467.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,401 shares of the basic materials company’s stock valued at $493,000 after buying an additional 5,272 shares during the period. 39.71% of the stock is owned by institutional investors.

About Randgold Resources

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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