Investors Buy Randgold Resources (GOLD) on Weakness

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Traders bought shares of Randgold Resources Ltd. (NASDAQ:GOLD) on weakness during trading hours on Friday. $163.78 million flowed into the stock on the tick-up and $20.52 million flowed out of the stock on the tick-down, for a money net flow of $143.26 million into the stock. Of all companies tracked, Randgold Resources had the 17th highest net in-flow for the day. Randgold Resources traded down ($0.11) for the day and closed at $13.00

A number of equities research analysts have commented on the company. BidaskClub upgraded Randgold Resources from a “hold” rating to a “buy” rating in a research report on Tuesday, December 11th. ValuEngine upgraded Randgold Resources from a “hold” rating to a “buy” rating in a research report on Tuesday, November 20th. CIBC upgraded Randgold Resources from a “neutral” rating to an “outperform” rating in a research report on Wednesday, January 2nd. Desjardins upgraded Randgold Resources from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, Raymond James set a $16.00 price target on Randgold Resources and gave the company a “market perform” rating in a research report on Tuesday, March 12th. Eight investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Randgold Resources presently has an average rating of “Buy” and an average price target of $40.47.

The company has a market cap of $15.39 billion, a PE ratio of 4.45 and a beta of -0.23.

Randgold Resources (NASDAQ:GOLD) last announced its quarterly earnings data on Wednesday, February 13th. The basic materials company reported $0.06 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.06. The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.97 billion. Randgold Resources had a return on equity of 6.16% and a net margin of 21.82%. The firm’s revenue was down 14.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.22 EPS. Sell-side analysts forecast that Randgold Resources Ltd. will post 2.62 EPS for the current fiscal year.

A number of hedge funds have recently bought and sold shares of the stock. Wells Fargo & Company MN raised its stake in shares of Randgold Resources by 12.2% during the third quarter. Wells Fargo & Company MN now owns 594,532 shares of the basic materials company’s stock valued at $41,945,000 after purchasing an additional 64,874 shares during the period. American Century Companies Inc. raised its stake in shares of Randgold Resources by 12.2% during the third quarter. American Century Companies Inc. now owns 244,400 shares of the basic materials company’s stock valued at $17,242,000 after purchasing an additional 26,600 shares during the period. SG Americas Securities LLC raised its stake in shares of Randgold Resources by 38.3% during the third quarter. SG Americas Securities LLC now owns 57,602 shares of the basic materials company’s stock valued at $4,064,000 after purchasing an additional 15,937 shares during the period. Crossmark Global Holdings Inc. raised its stake in shares of Randgold Resources by 11.9% during the third quarter. Crossmark Global Holdings Inc. now owns 16,171 shares of the basic materials company’s stock valued at $1,141,000 after purchasing an additional 1,719 shares during the period. Finally, Twin Tree Management LP raised its stake in shares of Randgold Resources by 225.7% during the third quarter. Twin Tree Management LP now owns 29,131 shares of the basic materials company’s stock valued at $2,055,000 after purchasing an additional 20,187 shares during the period. 39.71% of the stock is currently owned by institutional investors and hedge funds.

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About Randgold Resources (NASDAQ:GOLD)

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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