Royal Gold (NASDAQ:RGLD) (TSE:RGL) was downgraded by equities researchers at Canaccord Genuity from a “buy” rating to a “hold” rating in a report issued on Thursday. They currently have a $99.00 price objective on the basic materials company’s stock, down from their prior price objective of $109.00. Canaccord Genuity’s price target indicates a potential upside of 14.15% from the stock’s previous close.
A number of other equities analysts have also recently weighed in on RGLD. BMO Capital Markets reissued a “buy” rating and set a $95.00 price objective on shares of Royal Gold in a report on Wednesday, September 6th. Royal Bank of Canada reissued an “outperform” rating on shares of Royal Gold in a report on Thursday, September 7th. Zacks Investment Research raised Royal Gold from a “sell” rating to a “hold” rating in a report on Wednesday, November 8th. B. Riley reissued a “neutral” rating on shares of Royal Gold in a report on Wednesday, November 1st. Finally, TheStreet raised Royal Gold from a “c+” rating to a “b-” rating in a report on Wednesday, November 8th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $94.61.
Shares of Royal Gold (NASDAQ RGLD) opened at $86.73 on Thursday. Royal Gold has a 1-year low of $61.00 and a 1-year high of $94.39. The firm has a market capitalization of $5,740.00, a PE ratio of 56.32, a price-to-earnings-growth ratio of 4.91 and a beta of 0.46. The company has a quick ratio of 3.73, a current ratio of 3.92 and a debt-to-equity ratio of 0.23.
In related news, CFO Stefan Wenger sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $85.00, for a total transaction of $127,500.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders have sold 4,500 shares of company stock worth $383,820. 1.12% of the stock is owned by corporate insiders.
Several hedge funds have recently modified their holdings of the company. Beacon Financial Group grew its holdings in shares of Royal Gold by 66.8% in the fourth quarter. Beacon Financial Group now owns 68,006 shares of the basic materials company’s stock worth $2,443,000 after acquiring an additional 27,240 shares during the period. Vontobel Asset Management grew its holdings in shares of Royal Gold by 37.0% in the fourth quarter. Vontobel Asset Management now owns 355,023 shares of the basic materials company’s stock worth $12,950,000 after acquiring an additional 95,836 shares during the period. Russell Frank Co grew its holdings in shares of Royal Gold by 2,346.5% in the fourth quarter. Russell Frank Co now owns 207,907 shares of the basic materials company’s stock worth $7,470,000 after acquiring an additional 199,409 shares during the period. Retirement Systems of Alabama grew its holdings in shares of Royal Gold by 1.5% in the fourth quarter. Retirement Systems of Alabama now owns 83,893 shares of the basic materials company’s stock worth $3,060,000 after acquiring an additional 1,222 shares during the period. Finally, Nationwide Fund Advisors grew its holdings in shares of Royal Gold by 3.2% in the fourth quarter. Nationwide Fund Advisors now owns 107,631 shares of the basic materials company’s stock worth $3,925,000 after acquiring an additional 3,294 shares during the period. Hedge funds and other institutional investors own 72.02% of the company’s stock.
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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.
