Royal Gold, Inc. (RGLD) Receives Consensus Recommendation of “Buy” from Brokerages
Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) has been assigned an average rating of “Buy” from the fourteen research firms that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $93.85.
RGLD has been the topic of several research reports. BMO Capital Markets reissued a “buy” rating and issued a $95.00 price objective on shares of Royal Gold in a research report on Wednesday, September 6th. Royal Bank Of Canada reissued an “outperform” rating on shares of Royal Gold in a research report on Thursday, September 7th. BidaskClub raised Royal Gold from a “hold” rating to a “buy” rating in a research report on Saturday, July 8th. Macquarie lowered Royal Gold from an “outperform” rating to a “neutral” rating in a research report on Wednesday, July 12th. Finally, Zacks Investment Research raised Royal Gold from a “hold” rating to a “buy” rating and set a $88.00 price objective on the stock in a research report on Wednesday, July 12th.
Royal Gold (RGLD) opened at 86.48 on Thursday. The firm has a market capitalization of $5.65 billion, a PE ratio of 55.79 and a beta of 0.57. Royal Gold has a 1-year low of $60.21 and a 1-year high of $94.39. The company’s 50-day moving average price is $88.70 and its 200 day moving average price is $82.13.
Royal Gold (NASDAQ:RGLD) (TSE:RGL) last released its quarterly earnings data on Wednesday, August 9th. The basic materials company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.02). Royal Gold had a net margin of 23.03% and a return on equity of 4.19%. The company had revenue of $108.90 million during the quarter, compared to analysts’ expectations of $108.72 million. During the same period last year, the business earned $0.32 earnings per share. The company’s revenue for the quarter was up 15.7% compared to the same quarter last year. On average, equities analysts anticipate that Royal Gold will post $1.75 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, October 20th. Stockholders of record on Friday, October 6th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date was Thursday, October 5th. Royal Gold’s payout ratio is 61.54%.
In other news, Chairman William M. Hayes sold 10,850 shares of Royal Gold stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $86.35, for a total transaction of $936,897.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Tony A. Jensen sold 3,523 shares of Royal Gold stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $87.03, for a total value of $306,606.69. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 80,216 shares of company stock worth $7,058,788. Corporate insiders own 1.12% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Arcadia Investment Management Corp MI purchased a new stake in shares of Royal Gold during the second quarter worth about $104,000. Mountain Capital Investment Advisors Inc purchased a new stake in shares of Royal Gold during the second quarter worth about $109,000. Almanack Investment Partners LLC. purchased a new stake in shares of Royal Gold during the second quarter worth about $109,000. MUFG Americas Holdings Corp purchased a new stake in shares of Royal Gold during the second quarter worth about $117,000. Finally, KBC Group NV purchased a new stake in shares of Royal Gold during the second quarter worth about $142,000. 70.17% of the stock is currently 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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