Zacks Investment Research upgraded shares of Randgold Resources (NASDAQ:GOLD) from a sell rating to a hold rating in a research note issued to investors on Monday, February 19th.
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. “
A number of other equities research analysts have also issued reports on the company. JPMorgan Chase & Co. reduced their price target on Randgold Resources from $103.00 to $101.00 and set an overweight rating on the stock in a research report on Monday, February 12th. HSBC upgraded Randgold Resources from a hold rating to a buy rating in a report on Thursday, February 8th. BidaskClub downgraded Randgold Resources from a hold rating to a sell rating in a report on Thursday, February 8th. Numis Securities downgraded Randgold Resources from a buy rating to an add rating in a research note on Tuesday, February 6th. Finally, Scotiabank set a $101.00 price target on Randgold Resources and gave the stock a hold rating in a research note on Monday, February 5th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company’s stock. Randgold Resources currently has an average rating of Hold and an average target price of $79.88.
Randgold Resources (NASDAQ:GOLD) last posted its earnings results on Monday, February 5th. The basic materials company reported $0.79 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.84 by ($0.05). Randgold Resources had a return on equity of 7.13% and a net margin of 21.72%. The firm had revenue of $328.62 million for the quarter. research analysts forecast that Randgold Resources will post 3.77 earnings per share for the current year.
The business also recently declared a None dividend, which will be paid on Friday, May 18th. Shareholders of record on Friday, March 23rd will be given a dividend of $1.98 per share. This represents a yield of 0.0233518103549947%. The ex-dividend date is Thursday, March 22nd. Randgold Resources’s payout ratio is 33.11%.
Several large investors have recently made changes to their positions in the company. Deutsche Bank AG grew its position in Randgold Resources by 308.2% during the fourth quarter. Deutsche Bank AG now owns 453,699 shares of the basic materials company’s stock valued at $44,866,000 after acquiring an additional 342,549 shares during the period. Amundi Pioneer Asset Management Inc. purchased a new stake in Randgold Resources during the fourth quarter valued at about $28,795,000. CI Investments Inc. grew its position in Randgold Resources by 498.0% during the fourth quarter. CI Investments Inc. now owns 132,810 shares of the basic materials company’s stock valued at $13,134,000 after acquiring an additional 110,600 shares during the period. Ninepoint Partners LP acquired a new position in shares of Randgold Resources during the third quarter worth about $10,645,000. Finally, APG Asset Management N.V. acquired a new position in shares of Randgold Resources during the fourth quarter worth about $8,416,000. 35.36% of the stock is owned by institutional investors and hedge funds.
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Randgold Resources Company Profile
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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