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.
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.
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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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