National Bank Financial Weighs in on Royal Gold Inc.’s FY2018 Earnings (RGLD)
Royal Gold Inc. (NASDAQ:RGLD) – Investment analysts at National Bank Financial lowered their FY2018 earnings estimates for Royal Gold in a research note issued on Wednesday. National Bank Financial analyst S. Nagle now forecasts that the brokerage will post earnings per share of $1.62 for the year, down from their prior estimate of $1.70. National Bank Financial has a “Outperform” rating and a $85.00 price objective on the stock.
RGLD has been the subject of several other research reports. Zacks Investment Research lowered Royal Gold from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 12th. FBR & Co set a $80.00 target price on Royal Gold and gave the company a “hold” rating in a research report on Tuesday, September 20th. RBC Capital Markets reissued an “outperform” rating on shares of Royal Gold in a research report on Tuesday, September 20th. BMO Capital Markets raised Royal Gold from a “market perform” rating to an “outperform” rating in a research report on Wednesday, July 6th. Finally, Dundee Securities raised Royal Gold from a “neutral” rating to a “buy” rating and boosted their target price for the company from $80.00 to $85.00 in a research report on Wednesday, July 6th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $71.58.
Royal Gold (NASDAQ:RGLD) opened at 65.96 on Monday. Royal Gold has a 52 week low of $24.68 and a 52 week high of $87.74. The firm’s 50-day moving average price is $75.20 and its 200 day moving average price is $69.34. The firm’s market cap is $4.31 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 Zacks’ consensus estimate of $0.33 by $0.01. The company earned $94.10 million during the quarter, compared to analyst estimates of $100.62 million. Royal Gold had a negative net margin of 21.44% and a positive return on equity of 2.81%. The firm’s revenue for the quarter was up 27.9% compared to the same quarter last year. During the same period last year, the firm earned $0.23 EPS.
Institutional investors have recently modified their holdings of the company. Teachers Advisors Inc. increased its position 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 last quarter. BlackRock Inc. increased its position in Royal Gold by 2.4% in the first quarter. BlackRock Inc. now owns 283,775 shares of the company’s stock valued at $14,555,000 after buying an additional 6,640 shares in the last quarter. Royce & Associates LP increased its position in Royal Gold by 100.5% in the first quarter. Royce & Associates LP now owns 39,900 shares of the company’s stock valued at $2,046,000 after buying an additional 20,000 shares in the last quarter. State Street Corp increased its position in Royal Gold by 6.7% in the first quarter. State Street Corp now owns 2,118,783 shares of the company’s stock valued at $108,671,000 after buying an additional 133,359 shares in the last quarter. Finally, Rafferty Asset Management LLC bought a new position in Royal Gold during the first quarter valued at about $3,623,000. Hedge funds and other institutional investors own 68.95% of the company’s stock.
The company also recently announced a quarterly dividend, which was paid on Friday, October 14th. Investors of record on Friday, September 30th were paid a dividend of $0.23 per share. The ex-dividend date was Wednesday, September 28th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.39%. Royal Gold’s payout ratio is currently -77.97%.
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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