Zacks Investment Research Upgrades Randgold Resources (GOLD) to Hold

Zacks Investment Research upgraded shares of Randgold Resources (NASDAQ:GOLD) from a sell rating to a hold rating in a report issued on Wednesday.

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

A number of other analysts have also issued reports on the stock. Barclays began coverage on shares of Randgold Resources in a research note 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 note on Monday, December 31st. CIBC upgraded shares of Randgold Resources from a neutral rating to an outperform rating in a research note on Wednesday, January 2nd. BidaskClub lowered shares of Randgold Resources from a strong-buy rating to a buy rating in a research note on Monday, December 31st. Finally, ValuEngine upgraded shares of Randgold Resources from a hold rating to a buy rating in a research note on Tuesday, November 20th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Randgold Resources has a consensus rating of Buy and an average price target of $87.00.

NASDAQ GOLD traded down $70.45 during mid-day trading on Wednesday, hitting $12.44. The company’s stock had a trading volume of 14,133,736 shares, compared to its average volume of 16,711,100. The firm has a market capitalization of $7.83 billion, a price-to-earnings ratio of 4.26 and a beta of -0.23. Randgold Resources has a 52-week low of $9.53 and a 52-week high of $15.52.

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

Hedge funds have recently added to or reduced their stakes in the company. Signaturefd LLC grew its position in shares of Randgold Resources by 97.1% during the third quarter. Signaturefd LLC now owns 1,516 shares of the basic materials company’s stock worth $107,000 after buying an additional 747 shares in the last quarter. Cornerstone Wealth Management LLC grew its position in shares of Randgold Resources by 29.9% during the third quarter. Cornerstone Wealth Management LLC now owns 18,230 shares of the basic materials company’s stock worth $185,000 after buying an additional 4,198 shares in the last quarter. Wetherby Asset Management Inc. acquired a new stake in shares of Randgold Resources during the third quarter worth approximately $229,000. Valeo Financial Advisors LLC acquired a new stake in shares of Randgold Resources during the third quarter worth approximately $236,000. Finally, Advisors Asset Management Inc. acquired a new stake in shares of Randgold Resources during the third quarter worth approximately $252,000. 39.71% of the stock is owned by institutional investors and hedge funds.

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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