Royal Gold, Inc. (NASDAQ:RGLD) Downgraded by Zacks Investment Research to Hold
Zacks Investment Research lowered shares of Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) from a buy rating to a hold rating in a report issued on Tuesday morning.
According to Zacks, “Royal Gold, Inc. is engaged in the acquisition and management of precious metals royalties. They seek to acquire existing royalties or to finance projects that are in production or near production in exchange for royalty interests. They also explore and develop properties thought to contain precious metals and seek to obtain royalty and other carried ownership interests in these properties through the subsequent transfer of operating interests to other mining companies. “
Several other research firms have also commented on RGLD. Macquarie lowered shares of Royal Gold from an outperform rating to a neutral rating in a research report on Wednesday, July 12th. Raymond James Financial, Inc. reaffirmed a market perform rating and set a $88.00 price target on shares of Royal Gold in a research report on Thursday, June 15th. Barclays PLC reaffirmed an overweight rating and set a $84.00 price target (up previously from $83.00) on shares of Royal Gold in a research report on Tuesday, June 6th. BidaskClub raised shares of Royal Gold from a hold rating to a buy rating in a research report on Saturday, July 8th. Finally, Royal Bank Of Canada reaffirmed a buy rating and set a $83.00 price target on shares of Royal Gold in a research report on Monday, June 5th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Royal Gold has an average rating of Buy and a consensus target price of $89.77.
Shares of Royal Gold (NASDAQ RGLD) traded up 0.07% during midday trading on Tuesday, hitting $82.73. The stock had a trading volume of 259,307 shares. The firm’s 50 day moving average price is $78.26 and its 200 day moving average price is $72.19. Royal Gold has a 52-week low of $60.21 and a 52-week high of $87.74. The firm has a market cap of $5.41 billion, a price-to-earnings ratio of 52.86 and a beta of 0.66.
Royal Gold (NASDAQ:RGLD) (TSE:RGL) last released its quarterly earnings results on Wednesday, May 10th. The basic materials company reported $0.36 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by $0.02. The firm had revenue of $107 million for the quarter, compared to analysts’ expectations of $105.14 million. Royal Gold had a net margin of 23.93% and a return on equity of 4.22%. The firm’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.29 EPS. On average, equities research analysts expect that Royal Gold will post $1.66 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 21st. Shareholders of record on Friday, July 7th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date is Wednesday, July 5th. Royal Gold’s payout ratio is 61.15%.
In other news, CFO Stefan Wenger sold 1,000 shares of the company’s stock in a transaction on Monday, May 1st. The stock was sold at an average price of $70.40, for a total transaction of $70,400.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Tony A. Jensen sold 25,000 shares of the company’s stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $80.00, for a total value of $2,000,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 33,000 shares of company stock worth $2,623,595. 1.37% of the stock is owned by corporate insiders.
Hedge funds have recently bought and sold shares of the company. GSA Capital Partners LLP bought a new stake in Royal Gold during the fourth quarter worth $261,000. AQR Capital Management LLC raised its stake in Royal Gold by 5.1% in the fourth quarter. AQR Capital Management LLC now owns 20,478 shares of the basic materials company’s stock worth $1,297,000 after buying an additional 998 shares in the last quarter. Quadrature Capital Ltd bought a new stake in Royal Gold during the fourth quarter worth $352,000. ICM Asset Management Inc. WA bought a new stake in Royal Gold during the fourth quarter worth $1,829,000. Finally, Teachers Advisors LLC raised its stake in Royal Gold by 14.7% in the fourth quarter. Teachers Advisors LLC now owns 140,014 shares of the basic materials company’s stock worth $8,870,000 after buying an additional 17,977 shares in the last quarter. 70.58% 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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