Randgold Resources Limited (GOLD) Cut to Sell at BidaskClub

BidaskClub lowered shares of Randgold Resources Limited (NASDAQ:GOLD) from a hold rating to a sell rating in a research report sent to investors on Monday morning.

GOLD has been the topic of a number of other research reports. Goldman Sachs Group, Inc. (The) lowered Randgold Resources Limited to a hold rating in a research note on Saturday, March 11th. Royal Bank Of Canada lowered Randgold Resources Limited from a sector perform rating to an underperform rating and set a $59.00 price target on the stock. in a research note on Wednesday, March 8th. They noted that the move was a valuation call. CIBC upgraded Randgold Resources Limited from a sector perform rating to a sector outperform rating in a research note on Friday, May 5th. J P Morgan Chase & Co restated an overweight rating and set a $107.00 price target (up previously from $105.00) on shares of Randgold Resources Limited in a research note on Monday, June 5th. Finally, Deutsche Bank AG lowered Randgold Resources Limited from a buy rating to a hold rating in a research note on Friday, March 17th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the company. Randgold Resources Limited has a consensus rating of Hold and an average target price of $102.00.

Randgold Resources Limited (NASDAQ:GOLD) opened at 89.72 on Monday. The firm’s 50-day moving average is $92.81 and its 200 day moving average is $87.06. The company has a market cap of $8.44 billion, a PE ratio of 32.38 and a beta of 0.14. Randgold Resources Limited has a 1-year low of $67.54 and a 1-year high of $126.55.

Randgold Resources Limited (NASDAQ:GOLD) last posted its earnings results on Thursday, May 4th. The basic materials company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.02. Randgold Resources Limited had a return on equity of 7.10% and a net margin of 21.04%. The company had revenue of $316.71 million for the quarter. Analysts predict that Randgold Resources Limited will post $3.40 earnings per share for the current fiscal year.

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A number of large investors have recently modified their holdings of GOLD. BlackRock Inc. raised its stake in shares of Randgold Resources Limited by 1,868.2% in the first quarter. BlackRock Inc. now owns 8,661,383 shares of the basic materials company’s stock worth $755,966,000 after buying an additional 8,221,311 shares in the last quarter. Paulson & CO. Inc. purchased a new stake in shares of Randgold Resources Limited during the fourth quarter worth approximately $38,170,000. Van ECK Associates Corp raised its stake in shares of 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 worth $607,398,000 after buying an additional 354,789 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Randgold Resources Limited by 601.6% in the fourth quarter. Renaissance Technologies LLC now owns 410,455 shares of the basic materials company’s stock worth $31,334,000 after buying an additional 351,955 shares in the last quarter. Finally, Credit Agricole S A raised its stake in shares of Randgold Resources Limited by 166.9% in the first quarter. Credit Agricole S A now owns 290,885 shares of the basic materials company’s stock worth $25,388,000 after buying an additional 181,900 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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