Royal Gold (NASDAQ:RGLD) (TSE:RGL) had its target price cut by equities research analysts at Bank of America from $109.00 to $99.00 in a note issued to investors on Thursday. The brokerage currently has a “hold” rating on the basic materials company’s stock. Bank of America’s target price suggests a potential upside of 24.89% from the stock’s previous close.
Other equities research analysts have also issued reports about the stock. Canaccord Genuity reaffirmed a “buy” rating and set a $113.00 price target on shares of Royal Gold in a report on Sunday, October 1st. Royal Bank of Canada set a $89.00 price target on shares of Royal Gold and gave the company a “buy” rating in a report on Monday, October 23rd. BMO Capital Markets set a $105.00 price target on shares of Royal Gold and gave the company a “buy” rating in a report on Tuesday, November 14th. TheStreet raised shares of Royal Gold from a “c+” rating to a “b-” rating in a report on Wednesday, November 8th. Finally, Zacks Investment Research raised shares of Royal Gold from a “hold” rating to a “strong-buy” rating and set a $94.00 price target for the company in a report on Wednesday, December 6th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $95.05.
Shares of Royal Gold (RGLD) traded down $7.46 during mid-day trading on Thursday, hitting $79.27. 1,142,944 shares of the stock were exchanged, compared to its average volume of 530,424. Royal Gold has a fifty-two week low of $61.00 and a fifty-two week high of $94.39. The company has a debt-to-equity ratio of 0.23, a quick ratio of 3.73 and a current ratio of 3.92. The stock has a market cap of $5,740.00, a P/E ratio of 51.47, a PEG ratio of 4.91 and a beta of 0.46.
In other Royal Gold news, CFO Stefan Wenger sold 1,500 shares of the firm’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $85.00, for a total transaction of $127,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last three months, insiders have sold 4,500 shares of company stock valued at $383,820. 1.12% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Royal Gold by 1.3% during the second quarter. Vanguard Group Inc. now owns 5,851,247 shares of the basic materials company’s stock worth $457,392,000 after purchasing an additional 73,112 shares during the last quarter. Van ECK Associates Corp grew its holdings in Royal Gold by 15.8% during the first quarter. Van ECK Associates Corp now owns 4,901,086 shares of the basic materials company’s stock worth $343,321,000 after buying an additional 667,497 shares in the last quarter. First Eagle Investment Management LLC grew its holdings in Royal Gold by 0.6% during the fourth quarter. First Eagle Investment Management LLC now owns 4,246,460 shares of the basic materials company’s stock worth $154,868,000 after buying an additional 23,796 shares in the last quarter. Capital World Investors grew its stake in Royal Gold by 25.7% in the 2nd quarter. Capital World Investors now owns 4,158,000 shares of the basic materials company’s stock valued at $325,031,000 after purchasing an additional 849,900 shares during the period. Finally, Norges Bank bought a new position in Royal Gold in the 4th quarter valued at $172,371,000. 72.02% of the stock is owned by institutional investors and hedge funds.
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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.
