Zacks Investment Research upgraded shares of Randgold Resources Ltd. (NASDAQ:GOLD) from a hold rating to a buy rating in a research report report published on Wednesday. The firm currently has $101.00 price target 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. “
GOLD has been the subject of several other research reports. Deutsche Bank AG reaffirmed a hold rating on shares of Randgold Resources in a report on Monday, July 11th. Jefferies Group raised shares of Randgold Resources from a hold rating to a buy rating in a report on Thursday, July 14th. Scotiabank downgraded shares of Randgold Resources from a sector perform rating to an underperform rating in a report on Wednesday, July 13th. Goldman Sachs Group Inc. raised shares of Randgold Resources from a neutral rating to a buy rating in a report on Monday, June 27th. Finally, Morgan Stanley downgraded shares of Randgold Resources from an equal weight rating to an underweight rating in a report on Monday, July 25th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the stock. Randgold Resources presently has a consensus rating of Hold and a consensus target price of $101.00.
Shares of Randgold Resources (NASDAQ:GOLD) traded down 2.79% during midday trading on Wednesday, hitting $88.06. The company had a trading volume of 334,328 shares. The firm’s 50 day moving average is $100.19 and its 200 day moving average is $99.86. The company has a market capitalization of $8.25 billion, a P/E ratio of 43.57 and a beta of 0.39. Randgold Resources has a 52 week low of $58.77 and a 52 week high of $126.55.
A number of hedge funds have recently bought and sold shares of the company. Royal Bank of Canada raised its stake in Randgold Resources by 3.5% in the second quarter. Royal Bank of Canada now owns 155,860 shares of the company’s stock worth $17,463,000 after buying an additional 5,317 shares during the period. Stifel Financial Corp raised its stake in Randgold Resources by 0.8% in the second quarter. Stifel Financial Corp now owns 13,108 shares of the company’s stock worth $1,469,000 after buying an additional 107 shares during the period. FDx Advisors Inc. purchased a new stake in Randgold Resources during the second quarter worth $275,000. AQR Capital Management LLC purchased a new stake in Randgold Resources during the second quarter worth $249,000. Finally, Capital World Investors purchased a new stake in Randgold Resources during the second quarter worth $12,661,000. 41.98% of the stock is currently owned by institutional investors.
Randgold Resources Company Profile
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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