Zacks Investment Research Upgrades Randgold Resources Ltd. (GOLD) to “Buy”
Randgold Resources Ltd. (NASDAQ:GOLD) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday. The firm presently has a $101.00 target price on the stock. Zacks Investment Research’s price objective would suggest a potential upside of 15.76% from the stock’s current price.
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. “
Several other brokerages also recently commented on GOLD. Macquarie upgraded shares of Randgold Resources from a “neutral” rating to an “outperform” rating in a report on Friday, July 1st. Deutsche Bank AG reiterated a “hold” rating on shares of Randgold Resources in a report on Wednesday, September 7th. Berenberg Bank initiated coverage on shares of Randgold Resources in a report on Wednesday, September 7th. They set a “hold” rating on the stock. HSBC reiterated a “buy” rating on shares of Randgold Resources in a report on Thursday, July 7th. Finally, Canaccord Genuity upgraded shares of Randgold Resources from a “hold” rating to a “buy” rating in a report on Thursday, September 1st. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company’s stock. Randgold Resources has an average rating of “Hold” and a consensus target price of $101.00.
Randgold Resources (NASDAQ:GOLD) opened at 87.25 on Wednesday. Randgold Resources has a 52 week low of $58.77 and a 52 week high of $126.55. The stock has a 50 day moving average price of $99.56 and a 200-day moving average price of $99.77. The stock has a market cap of $8.17 billion, a P/E ratio of 43.17 and a beta of 0.39.
A number of large investors have recently bought and sold shares of the stock. Checchi Capital Advisers LLC boosted its stake in Randgold Resources by 4.7% in the second quarter. Checchi Capital Advisers LLC now owns 1,004 shares of the company’s stock worth $112,000 after buying an additional 45 shares during the last quarter. Camarda Financial Advisors LLC purchased a new stake in Randgold Resources during the second quarter worth approximately $126,000. Seven Eight Capital LLC boosted its stake in Randgold Resources by 500.0% in the second quarter. Seven Eight Capital LLC now owns 1,200 shares of the company’s stock worth $134,000 after buying an additional 1,000 shares during the last quarter. Thompson Davis & CO. Inc. boosted its stake in Randgold Resources by 512.5% in the second quarter. Thompson Davis & CO. Inc. now owns 1,225 shares of the company’s stock worth $137,000 after buying an additional 1,025 shares during the last quarter. Finally, Cypress Wealth Advisors LLC purchased a new stake in Randgold Resources during the first quarter worth approximately $204,000. 41.98% of the stock is 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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