Desjardins upgraded shares of Randgold Resources (NASDAQ:GOLD) from a hold rating to a buy rating in a report released on Friday morning, Marketbeat reports. They currently have $95.00 price objective on the basic materials company’s stock. Desjardins also issued estimates for Randgold Resources’ Q3 2018 earnings at $0.72 EPS, Q4 2018 earnings at $0.82 EPS, FY2018 earnings at $2.70 EPS and FY2019 earnings at $2.91 EPS.
A number of other equities research analysts have also recently weighed in on GOLD. BidaskClub raised Randgold Resources from a sell rating to a hold rating in a research note on Tuesday, June 26th. Clarus Securities reaffirmed a buy rating on shares of Randgold Resources in a research note on Friday, August 10th. Scotiabank set a $98.00 price objective on Randgold Resources and gave the company a hold rating in a research note on Thursday, August 9th. Zacks Investment Research raised Randgold Resources from a strong sell rating to a hold rating in a research note on Wednesday, August 8th. Finally, ValuEngine cut Randgold Resources from a hold rating to a sell rating in a research note on Wednesday, May 16th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $101.00.
Shares of NASDAQ GOLD traded up $1.71 during trading on Friday, reaching $64.50. The stock had a trading volume of 1,339,935 shares, compared to its average volume of 578,344. Randgold Resources has a fifty-two week low of $62.55 and a fifty-two week high of $108.29. The stock has a market capitalization of $6.61 billion, a PE ratio of 22.09 and a beta of -0.12.
Large investors have recently added to or reduced their stakes in the stock. Mckinley Capital Management LLC Delaware boosted its holdings in Randgold Resources by 68.0% in the first quarter. Mckinley Capital Management LLC Delaware now owns 2,188 shares of the basic materials company’s stock valued at $182,000 after purchasing an additional 886 shares during the period. Sei Investments Co. boosted its holdings in Randgold Resources by 27.1% in the first quarter. Sei Investments Co. now owns 2,971 shares of the basic materials company’s stock valued at $247,000 after purchasing an additional 633 shares during the period. Commonwealth Equity Services LLC boosted its holdings in Randgold Resources by 68.2% in the first quarter. Commonwealth Equity Services LLC now owns 3,823 shares of the basic materials company’s stock valued at $318,000 after purchasing an additional 1,550 shares during the period. Quadrature Capital Ltd purchased a new position in Randgold Resources in the first quarter valued at $467,000. Finally, Trexquant Investment LP purchased a new stake in Randgold Resources during the 2nd quarter worth about $442,000. Hedge funds and other institutional investors own 35.63% 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).
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