Randgold Resources Limited (GOLD) Downgraded by BidaskClub to “Sell”

Randgold Resources Limited (NASDAQ:GOLD) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Wednesday, August 9th.

A number of other research analysts also recently issued reports on the company. Zacks Investment Research raised Randgold Resources Limited from a “hold” rating to a “buy” rating and set a $98.00 price target on the stock in a report on Wednesday, July 5th. Scotiabank upped 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. CIBC raised Randgold Resources Limited from a “sector perform” rating to a “sector outperform” rating in a report on Friday, May 5th. J P Morgan Chase & Co reissued an “overweight” rating and issued a $107.00 target price (up previously from $105.00) on shares of Randgold Resources Limited in a report on Monday, June 5th. Finally, HSBC Holdings plc reissued a “hold” rating on shares of Randgold Resources Limited in a report on Friday, July 7th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Randgold Resources Limited presently has an average rating of “Hold” and an average price target of $101.25.

Randgold Resources Limited (NASDAQ GOLD) traded up 0.14% during trading on Wednesday, hitting $95.80. 574,716 shares of the stock were exchanged. Randgold Resources Limited has a 52 week low of $67.54 and a 52 week high of $106.47.

Randgold Resources Limited (NASDAQ:GOLD) last announced its quarterly earnings results on Friday, August 4th. The basic materials company reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.14. The firm 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%. On average, analysts predict that Randgold Resources Limited will post $3.30 EPS for the current year.

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Hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its position in Randgold Resources Limited by 7.8% in the second quarter. BlackRock Inc. now owns 9,333,067 shares of the basic materials company’s stock valued at $825,605,000 after buying an additional 671,684 shares in the last quarter. Van ECK Associates Corp boosted its position in Randgold Resources Limited by 5.4% in the first quarter. Van ECK Associates Corp now owns 6,959,189 shares of the basic materials company’s stock valued at $607,398,000 after buying an additional 354,789 shares in the last quarter. FMR LLC boosted its position in Randgold Resources Limited by 2.4% in the first quarter. FMR LLC now owns 3,631,499 shares of the basic materials company’s stock valued at $316,957,000 after buying an additional 86,247 shares in the last quarter. First Eagle Investment Management LLC boosted its position 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 valued at $118,334,000 after buying an additional 5,510 shares in the last quarter. Finally, Capital World Investors boosted its position in Randgold Resources Limited by 102.9% in the second quarter. Capital World Investors now owns 1,007,000 shares of the basic materials company’s stock valued at $89,079,000 after buying an additional 510,800 shares in the last quarter. Hedge funds and other institutional investors own 36.52% 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).

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