Royal Gold Inc. (RGLD) PT Set at $80.00 by FBR & Co
Royal Gold Inc. (NASDAQ:RGLD) has been assigned a $80.00 price target by analysts at FBR & Co in a note issued to investors on Tuesday. The firm presently has a a “hold” rating on the stock. FBR & Co’s price objective indicates a potential upside of 2.99% from the company’s current price.
Several other equities research analysts have also commented on RGLD. National Bank Financial upgraded shares of Royal Gold from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $72.00 to $85.00 in a report on Wednesday, July 6th. Zacks Investment Research upgraded shares of Royal Gold from a “hold” rating to a “buy” rating and set a $79.00 price objective for the company in a research note on Thursday, June 30th. RBC Capital Markets reiterated an “outperform” rating on shares of Royal Gold in a research note on Tuesday. Royal Bank Of Canada reiterated an “outperform” rating and set a $84.00 price objective on shares of Royal Gold in a research note on Monday, June 13th. Finally, HSBC reiterated a “buy” rating on shares of Royal Gold in a research note on Thursday, July 7th. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the stock. Royal Gold currently has an average rating of “Buy” and a consensus target price of $72.29.
Royal Gold (NASDAQ:RGLD) traded up 8.16% on Tuesday, reaching $84.02. 904,640 shares of the company’s stock traded hands. The stock’s market cap is $5.48 billion. The stock has a 50 day moving average price of $80.24 and a 200 day moving average price of $66.69. Royal Gold has a 12-month low of $24.68 and a 12-month high of $87.74.
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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. 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 the consensus estimate of $100.62 million. During the same quarter in the prior year, the firm posted $0.23 EPS. The company’s revenue for the quarter was up 27.9% compared to the same quarter last year. Analysts forecast that Royal Gold will post $1.89 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.18%. The ex-dividend date of this dividend is Wednesday, September 28th. Royal Gold’s dividend payout ratio (DPR) is currently -77.97%.
Hedge funds have recently added to or reduced their stakes in the stock. Riverhead Capital Management LLC increased its stake in Royal Gold by 101.6% in the second quarter. Riverhead Capital Management LLC now owns 25,355 shares of the company’s stock valued at $119,000 after buying an additional 12,777 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Royal Gold by 14.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,669 shares of the company’s stock valued at $120,000 after buying an additional 208 shares during the period. Bellwether Investment Group LLC acquired a new stake in Royal Gold during the second quarter valued at approximately $139,000. Meeder Asset Management Inc. increased its stake in Royal Gold by 199,100.0% in the second quarter. Meeder Asset Management Inc. now owns 1,992 shares of the company’s stock valued at $144,000 after buying an additional 1,991 shares during the period. Finally, Cantab Capital Partners LLP acquired a new stake in Royal Gold during the second quarter valued at approximately $144,000. 69.01% of the stock is currently owned by institutional investors and hedge funds.
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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