Royal Gold Inc. (RGLD) Stock Rating Reaffirmed by RBC Capital Markets
Royal Gold Inc. (NASDAQ:RGLD)‘s stock had its “outperform” rating reiterated by stock analysts at RBC Capital Markets in a report issued on Tuesday.
Other research analysts also recently issued reports about the stock. Zacks Investment Research raised shares of Royal Gold from a “hold” rating to a “buy” rating and set a $89.00 price target on the stock in a research note on Friday, July 8th. HSBC reissued a “buy” rating on shares of Royal Gold in a research note on Thursday, July 7th. Dundee Securities raised shares of Royal Gold from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $80.00 to $85.00 in a research note on Wednesday, July 6th. FBR & Co lifted their price target on shares of Royal Gold from $57.00 to $71.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 6th. Finally, Macquarie started coverage on shares of Royal Gold in a research note on Wednesday, July 6th. They set an “outperform” rating on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $72.29.
Shares of Royal Gold (NASDAQ:RGLD) traded down 0.22% on Tuesday, reaching $76.84. 296,246 shares of the company traded hands. The stock’s 50 day moving average price is $80.48 and its 200-day moving average price is $66.48. Royal Gold has a one year low of $24.68 and a one year high of $87.74. The stock’s market capitalization is $5.02 billion.
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Royal Gold (NASDAQ:RGLD) last posted its quarterly earnings results on Wednesday, August 10th. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.33 by $0.01. The business had revenue of $94.10 million for the quarter, compared to analysts’ expectations of $100.62 million. Royal Gold had a positive return on equity of 2.81% and a negative net margin of 21.44%. The company’s revenue was up 27.9% compared to the same quarter last year. During the same period last year, the business posted $0.23 earnings per share. Equities analysts forecast that Royal Gold will post $1.90 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.19%. The ex-dividend date is Wednesday, September 28th. Royal Gold’s dividend payout ratio (DPR) is currently -77.97%.
In related news, VP Bruce Christopher Kirchhoff sold 3,333 shares of Royal Gold stock in a transaction on Wednesday, June 22nd. The shares were sold at an average price of $66.19, for a total value of $220,611.27. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.14% of the stock is currently owned by corporate insiders.
Hedge funds have recently made changes to their positions in the stock. Norges Bank acquired a new stake in shares of Royal Gold during the fourth quarter worth approximately $10,892,000. Nisa Investment Advisors L.L.C. acquired a new stake in shares of Royal Gold during the first quarter worth approximately $1,641,000. Teachers Advisors Inc. boosted its stake in shares of Royal Gold by 2.7% in the first quarter. Teachers Advisors Inc. now owns 114,308 shares of the company’s stock worth $5,863,000 after buying an additional 2,992 shares during the period. BlackRock Inc. boosted its stake in shares of Royal Gold by 2.4% in the first quarter. BlackRock Inc. now owns 283,775 shares of the company’s stock worth $14,555,000 after buying an additional 6,640 shares during the period. Finally, Royce & Associates LP boosted its stake in shares of Royal Gold by 100.5% in the first quarter. Royce & Associates LP now owns 39,900 shares of the company’s stock worth $2,046,000 after buying an additional 20,000 shares during the period. Hedge funds and other institutional investors own 69.01% of the company’s stock.
Royal Gold Company Profile
Royal Gold, Inc, together with its subsidiaries, is engaged in acquiring and managing precious metal streams, royalties and similar interests. The Company operates through two segments: Acquisition and Management of Stream Interests, and Acquisition and Management of Royalty Interests. Its assets are located in Canada, Chile, Dominican Republic, Mexico, the United States, Africa, Australia and Other.
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