Traders Buy Shares of Randgold Resources (GOLD) on Weakness

Traders purchased 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 equities 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

GOLD has been the topic of several research analyst reports. Desjardins raised shares of Randgold Resources from a “hold” rating to a “buy” rating in a research report on Wednesday. Raymond James set a $16.00 price target on shares of Randgold Resources and gave the stock a “market perform” rating in a research report on Tuesday. HC Wainwright reaffirmed a “buy” rating and set a $5.00 price target on shares of Randgold Resources in a research report on Tuesday, March 5th. Deutsche Bank cut shares of Randgold Resources from a “buy” rating to a “hold” rating and reduced their price target for the stock from $14.00 to $12.75 in a research report on Friday, February 15th. Finally, TD Securities cut shares of Randgold Resources from a “buy” rating to a “hold” rating and reduced their price target for the stock from $16.00 to $15.00 in a research report on Friday, February 15th. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Randgold Resources presently has an average rating of “Buy” and an average target price of $40.47.

The stock has a market capitalization of $15.39 billion, a P/E ratio of 4.45 and a beta of -0.23.

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

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GOLD. Alpine Associates Management Inc. acquired a new stake in Randgold Resources during the fourth quarter worth about $120,438,000. FMR LLC raised its stake in Randgold Resources by 63.5% during the fourth quarter. FMR LLC now owns 3,658,749 shares of the basic materials company’s stock worth $312,520,000 after acquiring an additional 1,420,518 shares during the period. Renaissance Technologies LLC raised its stake in Randgold Resources by 69.1% during the third quarter. Renaissance Technologies LLC now owns 2,028,300 shares of the basic materials company’s stock worth $143,097,000 after acquiring an additional 828,938 shares during the period. Summit Securities Group LLC acquired a new stake in Randgold Resources during the fourth quarter worth about $52,335,000. Finally, Van ECK Associates Corp raised its stake in Randgold Resources by 7.4% during the fourth quarter. Van ECK Associates Corp now owns 6,749,791 shares of the basic materials company’s stock worth $576,998,000 after acquiring an additional 464,174 shares during the period. Hedge funds and other institutional investors own 39.71% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: This report was first reported by Sports Perspectives and is the property of of Sports Perspectives. If you are accessing this report on another website, it was copied illegally and reposted in violation of US & international trademark & copyright legislation. The original version of this report can be accessed at https://sportsperspectives.com/2019/03/15/traders-buy-shares-of-randgold-resources-gold-on-weakness.html.

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.

Recommended Story: How do candlesticks reflect price movement?

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.