Randgold Resources Ltd. (GOLD) Stock Rating Lowered by Deutsche Bank AG
Randgold Resources Ltd. (NASDAQ:GOLD) was downgraded by investment analysts at Deutsche Bank AG from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.
Several other research firms have also recently issued reports on GOLD. Royal Bank of Canada cut Randgold Resources from a “sector perform” rating to an “underperform” rating and set a $59.00 target price on the stock. in a research report on Wednesday, March 8th. They noted that the move was a valuation call. Zacks Investment Research cut Randgold Resources from a “hold” rating to a “strong sell” rating in a research report on Wednesday, January 4th. Canaccord Genuity cut Randgold Resources from a “buy” rating to a “hold” rating in a research report on Friday, January 27th. Berenberg Bank reiterated a “buy” rating on shares of Randgold Resources in a research report on Sunday, February 5th. Finally, Credit Suisse Group AG cut Randgold Resources from an “outperform” rating to a “neutral” rating in a research report on Tuesday, January 31st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Randgold Resources currently has a consensus rating of “Buy” and a consensus target price of $80.00.
Randgold Resources (NASDAQ:GOLD) opened at 89.41 on Friday. The stock has a market cap of $8.39 billion, a P/E ratio of 34.26 and a beta of 0.13. Randgold Resources has a 12 month low of $67.54 and a 12 month high of $126.55. The company’s 50-day moving average price is $89.28 and its 200-day moving average price is $85.54.
Randgold Resources (NASDAQ:GOLD) last released its earnings results on Monday, February 6th. The company reported $0.83 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.90 by $0.07. Randgold Resources had a return on equity of 6.81% and a net margin of 20.61%. Equities analysts forecast that Randgold Resources will post $2.90 earnings per share for the current year.
The firm also recently announced a dividend, which will be paid on Friday, May 26th. Shareholders of record on Friday, March 17th will be given a dividend of $0.98 per share. This is a boost from Randgold Resources’s previous dividend of $0.66. The ex-dividend date is Wednesday, March 15th. Randgold Resources’s payout ratio is presently 49.04%.
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A number of institutional investors have recently added to or reduced their stakes in GOLD. Van ECK Associates Corp raised its position in Randgold Resources by 2.1% in the fourth quarter. Van ECK Associates Corp now owns 6,604,400 shares of the company’s stock worth $504,180,000 after buying an additional 133,959 shares in the last quarter. Wells Fargo & Company MN raised its position in Randgold Resources by 3.7% in the third quarter. Wells Fargo & Company MN now owns 1,228,527 shares of the company’s stock worth $122,939,000 after buying an additional 44,260 shares in the last quarter. Paulson & CO. Inc. acquired a new position in Randgold Resources during the fourth quarter worth approximately $38,170,000. Alps Advisors Inc. raised its position in Randgold Resources by 19.3% in the third quarter. Alps Advisors Inc. now owns 424,747 shares of the company’s stock worth $42,504,000 after buying an additional 68,701 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in Randgold Resources by 601.6% in the fourth quarter. Renaissance Technologies LLC now owns 410,455 shares of the company’s stock worth $31,334,000 after buying an additional 351,955 shares in the last quarter. Institutional investors own 38.52% of the company’s stock.
About Randgold Resources
Randgold Resources Limited is engaged in the 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 mines, such as Morila, Loulo, Gounkoto, Tongon and Kibali. The Company holds Morila Limited, which holds interests in the Morila mine in Mali.
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