Zacks Investment Research downgraded shares of Randgold Resources Ltd. (NASDAQ:GOLD) from a buy rating to a hold rating in a research note released on Tuesday.

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 analysts have also issued reports on GOLD. Deutsche Bank AG reissued a hold rating on shares of Randgold Resources in a report on Wednesday, August 10th. Berenberg Bank began coverage on Randgold Resources in a report on Wednesday, September 7th. They set a hold rating on the stock. Scotiabank lowered Randgold Resources from a sector perform rating to an underperform rating in a report on Wednesday, July 13th. Investec reissued a buy rating on shares of Randgold Resources in a report on Tuesday, July 19th. Finally, Jefferies Group raised Randgold Resources from a hold rating to a buy rating in a report on Thursday, July 14th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $101.00.

Analyst Recommendations for Randgold Resources (NASDAQ:GOLD)

Shares of Randgold Resources (NASDAQ:GOLD) traded up 1.45% during mid-day trading on Tuesday, reaching $85.11. The company’s stock had a trading volume of 125,475 shares. The stock has a market capitalization of $7.97 billion, a price-to-earnings ratio of 42.11 and a beta of 0.39. The company’s 50-day moving average is $97.69 and its 200-day moving average is $99.74. Randgold Resources has a 52 week low of $58.77 and a 52 week high of $126.55.

A number of hedge funds have recently added to or reduced their stakes in GOLD. Bremer Trust National Association boosted its stake in Randgold Resources by 0.8% in the third quarter. Bremer Trust National Association now owns 3,003 shares of the company’s stock valued at $300,000 after buying an additional 24 shares during the last quarter. 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 valued at $112,000 after buying an additional 45 shares during the last quarter. Stifel Financial Corp boosted its stake in Randgold Resources by 0.8% in the second quarter. Stifel Financial Corp now owns 13,108 shares of the company’s stock valued at $1,469,000 after buying an additional 107 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Randgold Resources by 1.2% in the second quarter. Dimensional Fund Advisors LP now owns 20,734 shares of the company’s stock valued at $2,323,000 after buying an additional 237 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in Randgold Resources by 0.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,363 shares of the company’s stock valued at $2,848,000 after buying an additional 263 shares during the last quarter. 42.81% of the stock is owned by hedge funds and other 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.

5 Day Chart for NASDAQ:GOLD

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