Randgold Resources (GOLD) Upgraded by HSBC to “Buy”

Randgold Resources (NASDAQ:GOLD) was upgraded by research analysts at HSBC from a “hold” rating to a “buy” rating in a report released on Thursday, The Fly reports.

A number of other equities research analysts also recently commented on GOLD. BidaskClub upgraded Randgold Resources from a “sell” rating to a “hold” rating in a research report on Friday, February 2nd. Scotiabank set a $101.00 target price on Randgold Resources and gave the company a “hold” rating in a research report on Monday, February 5th. Numis Securities downgraded Randgold Resources from a “buy” rating to an “add” rating in a research report on Tuesday. Zacks Investment Research upgraded Randgold Resources from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 31st. Finally, HC Wainwright restated a “buy” rating on shares of Randgold Resources in a research report on Wednesday, January 17th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $76.90.

Shares of Randgold Resources (GOLD) opened at $83.00 on Thursday. Randgold Resources has a 1 year low of $81.35 and a 1 year high of $108.29. The company has a market capitalization of $7,992.08, a price-to-earnings ratio of 29.20 and a beta of -0.06.

Randgold Resources (NASDAQ:GOLD) last posted its earnings results on Monday, February 5th. The basic materials company reported $0.79 EPS for the quarter, missing the Zacks’ consensus estimate of $0.84 by ($0.05). Randgold Resources had a net margin of 21.72% and a return on equity of 7.13%. The business had revenue of $328.62 million during the quarter. analysts forecast that Randgold Resources will post 3.77 earnings per share for the current fiscal year.

Several hedge funds have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company raised its holdings in shares of Randgold Resources 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 period. Advisor Group Inc. raised its holdings in shares of Randgold Resources by 9.7% in the 2nd quarter. Advisor Group Inc. now owns 2,815 shares of the basic materials company’s stock valued at $248,000 after buying an additional 250 shares during the period. Ameriprise Financial Inc. raised its holdings in shares of Randgold Resources by 8.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 5,674 shares of the basic materials company’s stock valued at $502,000 after buying an additional 424 shares during the period. Saturna Capital CORP raised its holdings in shares of Randgold Resources by 7.3% in the 4th quarter. Saturna Capital CORP now owns 9,081 shares of the basic materials company’s stock valued at $898,000 after buying an additional 620 shares during the period. Finally, Advisory Services Network LLC raised its holdings in shares of Randgold Resources by 60.4% in the 4th quarter. Advisory Services Network LLC now owns 1,700 shares of the basic materials company’s stock valued at $168,000 after buying an additional 640 shares during the period. Hedge funds and other institutional investors own 35.25% of the company’s stock.

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About Randgold Resources

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).

The Fly

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