Zacks Investment Research cut shares of Randgold Resources Limited (NASDAQ:GOLD) from a buy rating to a hold rating in a research report released 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 subject of several other research reports. BidaskClub cut shares of Randgold Resources Limited from a hold rating to a sell rating in a research report on Wednesday, August 9th. HSBC Holdings plc reaffirmed a hold rating on shares of Randgold Resources Limited in a research report on Friday, July 7th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $105.00.

Randgold Resources Limited (NASDAQ GOLD) traded down 0.76% during midday trading on Wednesday, reaching $97.57. 175,409 shares of the company’s stock traded hands. Randgold Resources Limited has a 52-week low of $67.54 and a 52-week high of $108.29.

Randgold Resources Limited (NASDAQ:GOLD) last posted its quarterly earnings data on Friday, August 4th. The basic materials company reported $0.88 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.14. Randgold Resources Limited had a net margin of 22.75% and a return on equity of 7.89%. The business had revenue of $336.79 million during the quarter. On average, equities research analysts forecast that Randgold Resources Limited will post $3.33 earnings per share for the current year.

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A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Smith Affiliated Capital Corp. raised its holdings in Randgold Resources Limited by 4.0% in the 2nd quarter. Smith Affiliated Capital Corp. now owns 1,310 shares of the basic materials company’s stock valued at $116,000 after buying an additional 50 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in Randgold Resources Limited by 0.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,915 shares of the basic materials company’s stock valued at $1,319,000 after buying an additional 56 shares during the last quarter. Wetherby Asset Management Inc. raised its holdings in Randgold Resources Limited by 2.0% in the 2nd quarter. Wetherby Asset Management Inc. now owns 3,104 shares of the basic materials company’s stock valued at $274,000 after buying an additional 62 shares during the last quarter. Quadrant Capital Group LLC raised its holdings in Randgold Resources Limited by 11.2% in the 2nd quarter. Quadrant Capital Group LLC now owns 1,939 shares of the basic materials company’s stock valued at $162,000 after buying an additional 195 shares during the last quarter. Finally, US Bancorp DE raised its holdings in Randgold Resources Limited by 7.3% in the 1st quarter. US Bancorp DE now owns 2,943 shares of the basic materials company’s stock valued at $257,000 after buying an additional 201 shares during the last quarter. Institutional investors and hedge funds own 35.65% of the company’s stock.

About Randgold Resources Limited

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).

Analyst Recommendations for Randgold Resources Limited (NASDAQ:GOLD)

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