Royal Gold, Inc. (NASDAQ:RGLD) Given Average Recommendation of “Buy” by Brokerages
Shares of Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) have been given a consensus rating of “Buy” by the fourteen brokerages that are currently covering the firm, Marketbeat.com reports. Six research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $89.95.
A number of equities analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Royal Gold from a “hold” rating to a “buy” rating and set a $88.00 price target on the stock in a research note on Wednesday, July 12th. Macquarie cut shares of Royal Gold from an “outperform” rating to a “neutral” rating in a research note on Wednesday, July 12th. BidaskClub raised shares of Royal Gold from a “hold” rating to a “buy” rating in a research note on Saturday, July 8th. Barclays PLC reaffirmed an “overweight” rating and set a $84.00 price target (up from $83.00) on shares of Royal Gold in a research note on Tuesday, June 6th. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $95.00 price target on shares of Royal Gold in a research note on Friday, May 26th.
Shares of Royal Gold (NASDAQ RGLD) opened at 81.59 on Tuesday. Royal Gold has a 12 month low of $60.21 and a 12 month high of $87.74. The firm has a market cap of $5.33 billion, a price-to-earnings ratio of 52.13 and a beta of 0.66. The stock has a 50 day moving average of $78.18 and a 200 day moving average of $70.77.
Royal Gold (NASDAQ:RGLD) (TSE:RGL) last posted its quarterly earnings results on Wednesday, May 10th. The basic materials company reported $0.36 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.38 by $0.02. Royal Gold had a return on equity of 4.22% and a net margin of 23.93%. The company had revenue of $107 million for the quarter, compared to analyst estimates of $105.14 million. During the same period last year, the company earned $0.29 earnings per share. The business’s revenue for the quarter was up 14.4% compared to the same quarter last year. On average, equities research analysts expect that Royal Gold will post $1.65 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 21st. Investors of record on Friday, July 7th will be paid a $0.24 dividend. The ex-dividend date is Wednesday, July 5th. This represents a $0.96 dividend on an annualized basis and a yield of 1.18%. Royal Gold’s payout ratio is 61.15%.
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In other Royal Gold news, CEO Tony A. Jensen sold 25,000 shares of the company’s stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $80.00, for a total value of $2,000,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Stefan Wenger sold 500 shares of the company’s stock in a transaction dated Thursday, May 11th. The shares were sold at an average price of $75.00, for a total transaction of $37,500.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 33,000 shares of company stock worth $2,623,595. 1.37% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RGLD. Meadow Creek Investment Management LLC raised its position in shares of Royal Gold by 6.2% in the first quarter. Meadow Creek Investment Management LLC now owns 1,648 shares of the basic materials company’s stock valued at $115,000 after buying an additional 96 shares during the period. Neuburgh Advisers LLC raised its position in shares of Royal Gold by 6.2% in the first quarter. Neuburgh Advisers LLC now owns 2,266 shares of the basic materials company’s stock valued at $159,000 after buying an additional 132 shares during the period. Hexavest Inc. purchased a new position in shares of Royal Gold during the first quarter valued at $166,000. Tyers Asset Management LLC raised its position in shares of Royal Gold by 6.2% in the first quarter. Tyers Asset Management LLC now owns 2,884 shares of the basic materials company’s stock valued at $202,000 after buying an additional 168 shares during the period. Finally, Wedbush Securities Inc. purchased a new position in shares of Royal Gold during the first quarter valued at $214,000. Institutional investors own 70.58% 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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