Randgold Resources Ltd. (GOLD) Upgraded to Neutral at Citigroup Inc.
Randgold Resources Ltd. (NASDAQ:GOLD) was upgraded by stock analysts at Citigroup Inc. from a “sell” rating to a “neutral” rating in a report released on Tuesday.
A number of other research analysts have also recently issued reports on GOLD. Scotiabank raised shares of Randgold Resources from a “sector perform” rating to an “outperform” rating in a research report on Monday, November 7th. Deutsche Bank AG reissued a “hold” rating on shares of Randgold Resources in a research report on Wednesday, August 10th. Berenberg Bank began coverage on shares of Randgold Resources in a research report on Wednesday, September 7th. They set a “hold” rating for the company. Barclays PLC restated an “overweight” rating on shares of Randgold Resources in a research note on Thursday, November 10th. Finally, BMO Capital Markets upgraded shares of Randgold Resources from a “market perform” rating to an “outperform” rating in a research note on Wednesday, November 9th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $101.00.
Randgold Resources (NASDAQ:GOLD) opened at 74.59 on Tuesday. The firm has a 50-day moving average of $0.00 and a 200-day moving average of $0.00. Randgold Resources has a 1-year low of $59.08 and a 1-year high of $126.55.
Randgold Resources (NASDAQ:GOLD) last issued its quarterly earnings results on Thursday, November 3rd. The company reported $0.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by $0.44. Randgold Resources had a net margin of 19.12% and a return on equity of 5.98%. On average, equities analysts expect that Randgold Resources will post $3.11 EPS for the current fiscal year.
A number of hedge funds have recently made changes to their positions in GOLD. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in shares of Randgold Resources during the third quarter valued at about $4,648,000. Wellington Management Group LLP raised its stake in shares of Randgold Resources by 93.0% in the first quarter. Wellington Management Group LLP now owns 428,086 shares of the company’s stock valued at $38,875,000 after buying an additional 206,254 shares during the period. LPL Financial LLC raised its stake in shares of Randgold Resources by 7.0% in the first quarter. LPL Financial LLC now owns 15,242 shares of the company’s stock valued at $1,372,000 after buying an additional 1,002 shares during the period. Euclid Advisors LLC acquired a new stake in shares of Randgold Resources during the first quarter valued at about $4,808,000. Finally, JPMorgan Chase & Co. raised its stake in shares of Randgold Resources by 16.5% in the second quarter. JPMorgan Chase & Co. now owns 332,045 shares of the company’s stock valued at $37,200,000 after buying an additional 47,077 shares during the period. Institutional investors own 39.58% of the company’s stock.
About Randgold Resources
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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