Randgold Resources Ltd. (NASDAQ:GOLD) – Stock analysts at Jefferies Financial Group lowered their FY2018 earnings per share estimates for shares of Randgold Resources in a research note issued to investors on Wednesday, October 17th, according to Zacks Investment Research. Jefferies Financial Group analyst A. Spence now forecasts that the basic materials company will post earnings of $2.84 per share for the year, down from their prior forecast of $3.23.
Randgold Resources (NASDAQ:GOLD) last released its quarterly earnings data on Tuesday, November 6th. The basic materials company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.03. Randgold Resources had a return on equity of 6.16% and a net margin of 21.82%. The firm had revenue of $243.57 million during the quarter.
GOLD has been the subject of several other reports. Royal Bank of Canada upgraded Randgold Resources from an “underperform” rating to a “sector perform” rating in a research note on Wednesday, September 26th. BidaskClub upgraded Randgold Resources from a “hold” rating to a “buy” rating in a research note on Wednesday, October 24th. UBS Group upgraded Randgold Resources from a “neutral” rating to a “buy” rating in a research note on Wednesday, August 29th. Desjardins upgraded Randgold Resources from a “hold” rating to a “buy” rating and set a $95.00 price objective for the company in a research note on Friday, August 17th. Finally, Clarus Securities restated a “buy” rating on shares of Randgold Resources in a research note on Friday, August 10th. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Randgold Resources currently has a consensus rating of “Buy” and a consensus price target of $87.00.
Randgold Resources stock traded down $1.22 during mid-day trading on Friday, hitting $81.15. 993,147 shares of the company were exchanged, compared to its average volume of 1,074,448. Randgold Resources has a 1-year low of $59.90 and a 1-year high of $104.05. The firm has a market capitalization of $7.67 billion, a P/E ratio of 27.79 and a beta of -0.29.
Large investors have recently made changes to their positions in the company. Commerzbank Aktiengesellschaft FI increased its stake in shares of Randgold Resources by 29.0% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 47,259 shares of the basic materials company’s stock valued at $3,643,000 after buying an additional 10,623 shares in the last quarter. Cornerstone Wealth Management LLC acquired a new stake in shares of Randgold Resources in the second quarter valued at $185,000. BlackRock Inc. increased its stake in shares of Randgold Resources by 2.5% in the second quarter. BlackRock Inc. now owns 9,209,563 shares of the basic materials company’s stock valued at $709,966,000 after buying an additional 222,064 shares in the last quarter. Stevens Capital Management LP increased its stake in shares of Randgold Resources by 43.8% in the second quarter. Stevens Capital Management LP now owns 17,033 shares of the basic materials company’s stock valued at $1,313,000 after buying an additional 5,184 shares in the last quarter. Finally, Schroder Investment Management Group increased its position in Randgold Resources by 320.8% in the second quarter. Schroder Investment Management Group now owns 128,035 shares of the basic materials company’s stock worth $9,630,000 after purchasing an additional 97,605 shares during the period. Institutional investors own 36.90% of the company’s stock.
About Randgold Resources
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.
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