Royal Gold Inc. (RGLD) Given a $80.00 Price Target at FBR & Co
Royal Gold Inc. (NASDAQ:RGLD) has been given a $80.00 price target by equities researchers at FBR & Co in a research note issued to investors on Tuesday. The brokerage currently has a a “hold” rating on the stock. FBR & Co’s target price would suggest a potential upside of 2.99% from the stock’s current price.
Several other analysts also recently commented on RGLD. Royal Bank Of Canada reiterated an “outperform” rating and issued a $84.00 price target on shares of Royal Gold in a research report on Monday, June 13th. Zacks Investment Research upgraded shares of Royal Gold from a “hold” rating to a “buy” rating and set a $79.00 price target for the company in a research report on Thursday, June 30th. Dundee Securities upgraded shares of Royal Gold from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $80.00 to $85.00 in a research report on Wednesday, July 6th. National Bank Financial upgraded shares of Royal Gold from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $72.00 to $85.00 in a research report on Wednesday, July 6th. Finally, Raymond James Financial Inc. upgraded shares of Royal Gold from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $72.00 to $85.00 in a research report on Wednesday, July 6th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the stock. Royal Gold currently has a consensus rating of “Buy” and an average price target of $72.29.
Royal Gold (NASDAQ:RGLD) traded up 9.59% during trading on Tuesday, hitting $85.13. 1,125,885 shares of the stock traded hands. The company’s 50 day moving average price is $80.24 and its 200-day moving average price is $66.69. Royal Gold has a 52-week low of $24.68 and a 52-week high of $87.74. The stock’s market cap is $5.56 billion.
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Royal Gold (NASDAQ:RGLD) last released 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. Royal Gold had a negative net margin of 21.44% and a positive return on equity of 2.81%. The business earned $94.10 million during the quarter, compared to analysts’ expectations of $100.62 million. During the same quarter last year, the company earned $0.23 EPS. The firm’s revenue for the quarter was up 27.9% compared to the same quarter last year. Equities research analysts forecast that Royal Gold will post $1.89 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be paid a $0.23 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $0.92 dividend on an annualized basis and a yield of 1.18%. Royal Gold’s payout ratio is -77.97%.
A number of large investors have recently modified their holdings of the stock. Sun Valley Gold LLC boosted its stake in shares of Royal Gold by 154.3% in the first quarter. Sun Valley Gold LLC now owns 535,689 shares of the company’s stock worth $27,475,000 after buying an additional 325,000 shares during the last quarter. State Street Corp boosted its stake in shares of Royal Gold by 6.7% in the first quarter. State Street Corp now owns 2,118,783 shares of the company’s stock worth $108,671,000 after buying an additional 133,359 shares during the last quarter. Capstone Asset Management Co. boosted its stake in shares of Royal Gold by 5.3% in the second quarter. Capstone Asset Management Co. now owns 6,996 shares of the company’s stock worth $504,000 after buying an additional 350 shares during the last quarter. HL Financial Services LLC boosted its stake in shares of Royal Gold by 22.3% in the second quarter. HL Financial Services LLC now owns 79,516 shares of the company’s stock worth $5,727,000 after buying an additional 14,480 shares during the last quarter. Finally, 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 last quarter. 69.01% of the stock is currently owned by hedge funds and other institutional investors.
About Royal Gold
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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