Royal Gold, Inc. (RGLD) PT Set at $89.00 by Royal Bank Of Canada
Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) has been given a $89.00 price objective by equities research analysts at Royal Bank Of Canada in a research report issued to clients and investors on Monday. The brokerage presently has a “buy” rating on the basic materials company’s stock. Royal Bank Of Canada’s price target points to a potential upside of 3.08% from the stock’s current price.
A number of other equities research analysts have also issued reports on the company. BMO Capital Markets reissued a “buy” rating and set a $95.00 price target on shares of Royal Gold in a research note on Wednesday, September 6th. BidaskClub upgraded Royal Gold from a “hold” rating to a “buy” rating in a report on Saturday, July 8th. Macquarie downgraded Royal Gold from an “outperform” rating to a “neutral” rating in a report on Wednesday, July 12th. Zacks Investment Research upgraded Royal Gold from a “hold” rating to a “buy” rating and set a $88.00 price objective on the stock in a report on Wednesday, July 12th. Finally, Canaccord Genuity restated a “buy” rating and set a $113.00 price objective on shares of Royal Gold in a report on Sunday, October 1st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $93.32.
Shares of Royal Gold (NASDAQ RGLD) traded down 0.46% during midday trading on Monday, reaching $86.34. The company had a trading volume of 422,530 shares. The firm’s 50 day moving average price is $88.99 and its 200-day moving average price is $81.99. Royal Gold has a 1-year low of $60.21 and a 1-year high of $94.39. The stock has a market capitalization of $5.64 billion, a price-to-earnings ratio of 55.70 and a beta of 0.57.
Royal Gold (NASDAQ:RGLD) (TSE:RGL) last issued its quarterly earnings results on Wednesday, August 9th. The basic materials company reported $0.31 earnings per share (EPS) for the quarter, missing the Zacks’ 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 business had revenue of $108.90 million for the quarter, compared to the consensus estimate of $108.72 million. During the same period in the prior year, the business posted $0.32 earnings per share. Royal Gold’s revenue was up 15.7% on a year-over-year basis. Equities research analysts expect that Royal Gold will post $1.81 EPS for the current fiscal year.
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In other Royal Gold news, VP Bruce Christopher Kirchhoff sold 28,805 shares of the firm’s stock in a transaction on Friday, August 18th. The stock was sold at an average price of $86.28, for a total transaction of $2,485,295.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Tony A. Jensen sold 25,000 shares of the firm’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $85.00, for a total value of $2,125,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 106,345 shares of company stock worth $9,279,753 over the last 90 days. 1.12% of the stock is currently owned by company insiders.
Several large investors have recently made changes to their positions in the company. QS Investors LLC increased its holdings in shares of Royal Gold by 0.4% in the 2nd quarter. QS Investors LLC now owns 3,561 shares of the basic materials company’s stock valued at $278,000 after acquiring an additional 13 shares during the period. IFP Advisors Inc increased its holdings in shares of Royal Gold by 1.7% in the 2nd quarter. IFP Advisors Inc now owns 2,343 shares of the basic materials company’s stock valued at $183,000 after acquiring an additional 39 shares during the period. Teacher Retirement System of Texas increased its holdings in shares of Royal Gold by 2.0% in the 2nd quarter. Teacher Retirement System of Texas now owns 5,216 shares of the basic materials company’s stock valued at $408,000 after acquiring an additional 100 shares during the period. Utah Retirement Systems increased its holdings in shares of Royal Gold by 0.8% in the 2nd quarter. Utah Retirement Systems now owns 11,946 shares of the basic materials company’s stock valued at $934,000 after acquiring an additional 100 shares during the period. Finally, US Bancorp DE increased its holdings in shares of Royal Gold by 6.4% in the 2nd quarter. US Bancorp DE now owns 2,120 shares of the basic materials company’s stock valued at $166,000 after acquiring an additional 127 shares during the period. Institutional investors and hedge funds own 70.34% 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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