Zacks Downgrades Royal Gold to Underperform (RGLD)
Royal Gold (NASDAQ:RGLD) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a note issued to investors on Tuesday, StockRatingsNetwork reports. They currently have a $49.40 price objective on the stock. Zacks‘ price target would suggest a potential downside of 3.87% from the company’s current price.
Royal Gold (NASDAQ:RGLD) last released its earnings data on Thursday, November 7th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by $0.03. The company had revenue of $56.49 million for the quarter, compared to the consensus estimate of $58.50 million. During the same quarter in the previous year, the company posted $0.42 earnings per share. The company’s revenue for the quarter was down 27.5% on a year-over-year basis.
A number of other analysts have also recently weighed in on RGLD. Analysts at Bank of America Corp. upgraded shares of Royal Gold from a “neutral” rating to a “buy” rating in a research note to investors on Thursday, January 9th. Separately, analysts at Raymond James initiated coverage on shares of Royal Gold in a research note to investors on Monday, December 2nd. They set a “strong-buy” rating and a $74.00 price target on the stock. Finally, analysts at Scotiabank cut their price target on shares of Royal Gold from $62.00 to $61.00 in a research note to investors on Friday, November 15th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $65.29.
Royal Gold, Inc (NASDAQ:RGLD) together with its subsidiaries, is engaged in the business of acquiring and managing precious metals royalties and similar interests.
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