FBR & Co Reaffirms Hold Rating for Royal Gold, Inc. (RGLD)
Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL)‘s stock had its “hold” rating restated by investment analysts at FBR & Co in a note issued to investors on Wednesday. They currently have a $85.00 target price on the basic materials company’s stock. FBR & Co’s price target points to a potential downside of 0.91% from the stock’s current price.
Several other research analysts also recently weighed in on the stock. Barclays PLC restated an “overweight” rating and set a $83.00 price target (up previously from $82.00) on shares of Royal Gold in a research report on Saturday, April 22nd. Zacks Investment Research upgraded shares of Royal Gold from a “hold” rating to a “buy” rating and set a $84.00 price target for the company in a research report on Wednesday, June 21st. National Bank Financial downgraded shares of Royal Gold from an “outperform” rating to a “sector perform” rating and upped their price target for the stock from $80.00 to $82.50 in a research report on Thursday, April 20th. BMO Capital Markets restated a “buy” rating and set a $95.00 price target on shares of Royal Gold in a research report on Thursday, June 29th. Finally, BidaskClub upgraded shares of Royal Gold from a “hold” rating to a “buy” rating in a research report on Saturday, July 8th. One analyst has rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Royal Gold currently has an average rating of “Buy” and an average price target of $91.95.
Shares of Royal Gold (RGLD) opened at 85.78 on Wednesday. Royal Gold has a one year low of $60.21 and a one year high of $88.03. The stock has a 50 day moving average price of $82.62 and a 200 day moving average price of $74.68. The company has a market capitalization of $5.59 billion, a PE ratio of 55.34 and a beta of 0.68.
Royal Gold (NASDAQ:RGLD) (TSE:RGL) last released its quarterly earnings results on Wednesday, August 9th. The basic materials company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.33 by $0.02. Royal Gold had a return on equity of 4.19% and a net margin of 23.03%. The company had revenue of $108.90 million for the quarter, compared to analyst estimates of $108.72 million. During the same quarter last year, the company earned $0.32 EPS. The firm’s revenue for the quarter was up 15.7% on a year-over-year basis. On average, equities research analysts predict that Royal Gold will post $1.90 earnings per share for the current year.
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In other Royal Gold news, CEO Tony A. Jensen sold 25,000 shares of the stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $85.00, for a total value of $2,125,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Stefan Wenger sold 1,129 shares of the stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $85.00, for a total transaction of $95,965.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,129 shares of company stock valued at $2,536,660. 1.37% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Royal Gold by 1.3% in the second quarter. Vanguard Group Inc. now owns 5,851,247 shares of the basic materials company’s stock valued at $457,392,000 after buying an additional 73,112 shares during the period. Van ECK Associates Corp boosted its stake in Royal Gold by 15.8% in the first quarter. Van ECK Associates Corp now owns 4,901,086 shares of the basic materials company’s stock valued at $343,321,000 after buying an additional 667,497 shares during the period. First Eagle Investment Management LLC boosted its stake in Royal Gold by 0.6% in the fourth quarter. First Eagle Investment Management LLC now owns 4,246,460 shares of the basic materials company’s stock valued at $154,868,000 after buying an additional 23,796 shares during the period. Capital World Investors boosted its stake in Royal Gold by 25.7% in the second quarter. Capital World Investors now owns 4,158,000 shares of the basic materials company’s stock valued at $325,031,000 after buying an additional 849,900 shares during the period. Finally, Norges Bank purchased a new stake in Royal Gold during the fourth quarter valued at $172,371,000. 70.89% of the stock is owned by institutional investors and hedge funds.
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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