Zacks Investment Research downgraded shares of Randgold Resources Limited (NASDAQ:GOLD) from a buy rating to a hold rating in a report issued on Wednesday morning.

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. “

GOLD has been the topic of several other reports. BidaskClub cut Randgold Resources Limited from a hold rating to a sell rating in a report on Friday, July 28th. J P Morgan Chase & Co reaffirmed an overweight rating and set a $107.00 price objective (up from $105.00) on shares of Randgold Resources Limited in a report on Monday, June 5th. CIBC upgraded Randgold Resources Limited from a sector perform rating to a sector outperform rating in a report on Friday, May 5th. Scotiabank increased their price target on Randgold Resources Limited from $102.00 to $141.00 and gave the company a sector perform rating in a report on Friday, May 5th. Finally, HSBC Holdings plc restated a hold rating on shares of Randgold Resources Limited in a report on Friday, July 7th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $101.25.

Randgold Resources Limited (NASDAQ GOLD) traded up 0.37% on Wednesday, hitting $102.87. 336,318 shares of the company’s stock traded hands. Randgold Resources Limited has a 12 month low of $67.54 and a 12 month high of $106.01. The stock has a market cap of $9.68 billion, a P/E ratio of 32.76 and a beta of 0.02. The stock has a 50 day moving average price of $94.82 and a 200-day moving average price of $91.63.

Randgold Resources Limited (NASDAQ:GOLD) last issued its quarterly earnings data on Friday, August 4th. The basic materials company reported $0.88 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.14. The business had revenue of $336.79 million for the quarter. Randgold Resources Limited had a return on equity of 7.89% and a net margin of 22.75%. Equities analysts predict that Randgold Resources Limited will post $3.30 earnings per share for the current fiscal year.

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A number of hedge funds have recently added to or reduced their stakes in the company. First Eagle Investment Management LLC raised its stake in Randgold Resources Limited by 0.4% in the first quarter. First Eagle Investment Management LLC now owns 1,355,798 shares of the basic materials company’s stock worth $118,334,000 after buying an additional 5,510 shares during the last quarter. Karp Capital Management Corp acquired a new stake in Randgold Resources Limited during the first quarter worth $13,149,000. BARING ASSET MANAGEMENT Ltd raised its stake in Randgold Resources Limited by 1,849.3% in the first quarter. BARING ASSET MANAGEMENT Ltd now owns 74,035 shares of the basic materials company’s stock worth $6,462,000 after buying an additional 70,237 shares during the last quarter. UBS Asset Management Americas Inc. raised its stake in Randgold Resources Limited by 19.8% in the first quarter. UBS Asset Management Americas Inc. now owns 22,456 shares of the basic materials company’s stock worth $1,960,000 after buying an additional 3,717 shares during the last quarter. Finally, World Asset Management Inc raised its stake in Randgold Resources Limited by 1.0% in the first quarter. World Asset Management Inc now owns 5,842 shares of the basic materials company’s stock worth $510,000 after buying an additional 58 shares during the last quarter. Institutional investors and hedge funds own 35.56% of the company’s stock.

Randgold Resources Limited Company Profile

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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