Randgold Resources Ltd. (GOLD) Receives $87.00 Consensus Target Price from Analysts

Shares of Randgold Resources Ltd. (NASDAQ:GOLD) have earned an average recommendation of “Buy” from the seventeen brokerages that are presently covering the company, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $87.00.

Several brokerages recently weighed in on GOLD. ValuEngine lowered shares of Randgold Resources from a “sell” rating to a “strong sell” rating in a research report on Friday, September 14th. JPMorgan Chase & Co. downgraded shares of Randgold Resources from an “overweight” rating to a “neutral” rating and set a $68.00 price objective on the stock. in a research note on Tuesday, September 25th. Zacks Investment Research upgraded shares of Randgold Resources from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 8th. BidaskClub downgraded shares of Randgold Resources from a “buy” rating to a “hold” rating in a research note on Wednesday, November 28th. Finally, Scotiabank set a $98.00 price target on shares of Randgold Resources and gave the stock a “hold” rating in a research note on Thursday, August 9th.

A number of hedge funds and other institutional investors have recently modified their holdings of GOLD. Renaissance Technologies LLC grew its holdings in shares of Randgold Resources by 69.1% during the 3rd quarter. Renaissance Technologies LLC now owns 2,028,300 shares of the basic materials company’s stock worth $143,097,000 after purchasing an additional 828,938 shares in the last quarter. Van ECK Associates Corp raised its position in Randgold Resources by 8.1% in the second quarter. Van ECK Associates Corp now owns 5,901,484 shares of the basic materials company’s stock valued at $454,945,000 after purchasing an additional 441,386 shares during the last quarter. Capital World Investors raised its position in shares of Randgold Resources by 10.5% during the third quarter. Capital World Investors now owns 3,242,098 shares of the basic materials company’s stock worth $228,730,000 after acquiring an additional 307,000 shares during the last quarter. FMR LLC raised its position in shares of Randgold Resources by 13.5% during the third quarter. FMR LLC now owns 2,238,231 shares of the basic materials company’s stock worth $157,907,000 after acquiring an additional 266,142 shares during the last quarter. Finally, BlackRock Inc. raised its position in shares of Randgold Resources by 2.5% during the second quarter. BlackRock Inc. now owns 9,209,563 shares of the basic materials company’s stock worth $709,966,000 after acquiring an additional 222,064 shares during the last quarter. 39.71% of the stock is currently owned by hedge funds and other institutional investors.

GOLD traded up $1.14 on Monday, reaching $81.31. The company had a trading volume of 793,200 shares, compared to its average volume of 693,527. Randgold Resources has a one year low of $59.90 and a one year high of $104.05. The firm has a market capitalization of $7.57 billion, a PE ratio of 27.85 and a beta of -0.27.

Randgold Resources (NASDAQ:GOLD) last posted its quarterly earnings data on Tuesday, November 6th. The basic materials company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.03. Randgold Resources had a net margin of 21.82% and a return on equity of 6.16%. The company had revenue of $243.57 million during the quarter. As a group, research analysts anticipate that Randgold Resources will post 2.68 earnings per share for the current fiscal year.

Randgold Resources Company Profile

Randgold Resources Ltd. engages in the exploration and development of gold deposits. Its projects include the following: Loulo-Gounkoto complex, Morila gold mine, Tongon gold mine, Kibali gold mine, and Massawa. The company was founded in August 1995 and is headquartered in St. Helier, the United Kingdom.

See Also: The benefits and drawbacks of dollar cost averaging

Analyst Recommendations for Randgold Resources (NASDAQ:GOLD)

Receive News & Ratings for Randgold Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Randgold Resources and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit