Randgold Resources (GOLD) Rating Lowered to Hold at Deutsche Bank

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Randgold Resources (NASDAQ:GOLD) was downgraded by analysts at Deutsche Bank from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday, Marketbeat Ratings reports. They currently have a $12.75 target price on the basic materials company’s stock, down from their prior target price of $14.00. Deutsche Bank’s price objective points to a potential downside of 1.54% from the company’s current price.

Other equities analysts have also issued reports about the stock. TheStreet upgraded shares of Randgold Resources from a “c+” rating to a “b-” rating in a research report on Monday, December 31st. BidaskClub upgraded shares of Randgold Resources from a “hold” rating to a “buy” rating in a research report on Wednesday, October 24th. ValuEngine upgraded shares of Randgold Resources from a “hold” rating to a “buy” rating in a research report on Tuesday, November 20th. Zacks Investment Research upgraded shares of Randgold Resources from a “sell” rating to a “hold” rating in a research report on Wednesday, January 9th. Finally, Bank of America reiterated a “hold” rating and set a $14.00 target price on shares of Randgold Resources in a research report on Thursday. Eight investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Randgold Resources currently has an average rating of “Buy” and an average target price of $45.54.

NASDAQ:GOLD opened at $12.95 on Friday. The stock has a market capitalization of $15.73 billion, a price-to-earnings ratio of 4.43 and a beta of -0.23. Randgold Resources has a 12 month low of $9.53 and a 12 month high of $14.18.

Randgold Resources (NASDAQ:GOLD) last released its quarterly earnings results on Wednesday, February 13th. The basic materials company reported $0.06 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.06. The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.97 billion. Randgold Resources had a net margin of 21.82% and a return on equity of 6.16%. The company’s revenue for the quarter was down 14.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.22 earnings per share. Equities research analysts predict that Randgold Resources will post 2.62 EPS for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. lifted its holdings in Randgold Resources by 3.3% in the fourth quarter. BlackRock Inc. now owns 9,094,109 shares of the basic materials company’s stock valued at $743,899,000 after buying an additional 291,844 shares during the period. Van ECK Associates Corp lifted its holdings in Randgold Resources by 7.4% in the fourth quarter. Van ECK Associates Corp now owns 6,749,791 shares of the basic materials company’s stock valued at $576,998,000 after buying an additional 464,174 shares during the period. Capital World Investors lifted its holdings in Randgold Resources by 10.5% in the third quarter. Capital World Investors now owns 3,242,098 shares of the basic materials company’s stock valued at $228,730,000 after buying an additional 307,000 shares during the period. FMR LLC lifted its holdings in Randgold Resources by 13.5% in the third quarter. FMR LLC now owns 2,238,231 shares of the basic materials company’s stock valued at $157,907,000 after buying an additional 266,142 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in Randgold Resources by 69.1% in the third quarter. Renaissance Technologies LLC now owns 2,028,300 shares of the basic materials company’s stock valued at $143,097,000 after buying an additional 828,938 shares during the period. Institutional investors and hedge funds own 39.71% of the company’s stock.

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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Analyst Recommendations for Randgold Resources (NASDAQ:GOLD)

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