Royal Bank Of Canada Reaffirms Outperform Rating for Royal Gold, Inc. (RGLD)
Other research analysts also recently issued research reports about the company. FBR & Co increased their target price on Royal Gold from $81.00 to $85.00 and gave the stock a market perform rating in a report on Wednesday, August 16th. Zacks Investment Research raised Royal Gold from a hold rating to a buy rating and set a $84.00 target price on the stock in a report on Wednesday, June 21st. Scotiabank increased their target price on Royal Gold from $81.00 to $115.00 and gave the stock a sector perform rating in a report on Friday, May 12th. Raymond James Financial, Inc. reaffirmed a market perform rating and set a $88.00 target price on shares of Royal Gold in a report on Thursday, June 15th. Finally, BidaskClub downgraded Royal Gold from a buy rating to a hold rating in a report on Saturday, June 10th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Royal Gold presently has a consensus rating of Buy and an average price target of $91.95.
Royal Gold (RGLD) opened at 92.85 on Thursday. Royal Gold has a 52-week low of $60.21 and a 52-week high of $94.39. The firm has a market cap of $6.07 billion, a price-to-earnings ratio of 59.90 and a beta of 0.63. The firm’s 50-day moving average price is $87.91 and its 200 day moving average price is $76.96.
Royal Gold (NASDAQ:RGLD) (TSE:RGL) last released its earnings results on Wednesday, August 9th. The basic materials company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by $0.02. Royal Gold had a return on equity of 4.19% and a net margin of 23.03%. The firm 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 earned $0.32 EPS. The company’s quarterly revenue was up 15.7% on a year-over-year basis. On average, equities research analysts forecast that Royal Gold will post $1.79 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 20th. Investors of record on Friday, October 6th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.03%. The ex-dividend date is Thursday, October 5th. Royal Gold’s dividend payout ratio (DPR) is 61.54%.
In related news, VP Bruce Christopher Kirchhoff sold 28,805 shares of the firm’s stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $86.28, for a total value of $2,485,295.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Karli S. Anderson sold 2,262 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $91.45, for a total value of $206,859.90. Following the completion of the sale, the vice president now owns 20,081 shares in the company, valued at $1,836,407.45. The disclosure for this sale can be found here. In the last three months, insiders sold 106,845 shares of company stock worth $9,306,508. Company insiders own 1.37% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of RGLD. Arcadia Investment Management Corp MI acquired a new stake in Royal Gold in the 2nd quarter valued at approximately $104,000. Almanack Investment Partners LLC. acquired a new stake in Royal Gold in the 2nd quarter valued at approximately $109,000. Mountain Capital Investment Advisors Inc acquired a new stake in Royal Gold in the 2nd quarter valued at approximately $109,000. Meadow Creek Investment Management LLC increased its position in Royal Gold by 6.2% in the 1st quarter. Meadow Creek Investment Management LLC now owns 1,648 shares of the basic materials company’s stock valued at $115,000 after acquiring an additional 96 shares during the period. Finally, MUFG Americas Holdings Corp acquired a new stake in Royal Gold in the 2nd quarter valued at approximately $117,000. Hedge funds and other institutional investors own 70.43% of the company’s stock.
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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