Royal Gold, Inc. (NASDAQ:RGLD) Lifted to Strong-Buy at BidaskClub
BidaskClub upgraded shares of Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) from a buy rating to a strong-buy rating in a report issued on Tuesday morning.
RGLD has been the topic of several other research reports. National Bank Financial cut shares of Royal Gold from an outperform rating to a sector perform rating and lifted their price objective for the stock from $80.00 to $82.50 in a research note on Thursday, April 20th. BMO Capital Markets reaffirmed a buy rating and issued a $95.00 price objective on shares of Royal Gold in a research note on Thursday, June 29th. Barclays PLC reaffirmed an overweight rating and issued a $83.00 price objective (up previously from $82.00) on shares of Royal Gold in a research note on Saturday, April 22nd. Zacks Investment Research cut shares of Royal Gold from a hold rating to a sell rating in a report on Thursday, April 6th. Finally, Scotiabank raised their target price on shares of Royal Gold from $81.00 to $115.00 and gave the stock a sector perform rating in a report on Friday, May 12th. Six analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $89.77.
Shares of Royal Gold (NASDAQ:RGLD) traded up 1.16% during mid-day trading on Tuesday, hitting $86.61. 471,066 shares of the company’s stock traded hands. Royal Gold has a 1-year low of $60.21 and a 1-year high of $87.74. The stock has a market cap of $5.66 billion, a P/E ratio of 55.34 and a beta of 0.66. The stock has a 50 day moving average price of $79.36 and a 200-day moving average price of $73.15.
Royal Gold (NASDAQ:RGLD) (TSE:RGL) last announced its quarterly earnings data on Wednesday, May 10th. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by $0.02. The business had revenue of $107 million during the quarter, compared to analyst estimates of $105.14 million. Royal Gold had a return on equity of 4.22% and a net margin of 23.93%. The business’s revenue for the quarter was up 14.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.29 EPS. Equities research analysts anticipate that Royal Gold will post $1.65 EPS for the current fiscal year.
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The company also recently announced a quarterly dividend, which was paid on Friday, July 21st. Shareholders of record on Friday, July 7th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.11%. The ex-dividend date of this dividend was Wednesday, July 5th. Royal Gold’s payout ratio is 61.15%.
In related news, CFO Stefan Wenger sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $70.40, for a total transaction of $70,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Tony A. Jensen sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $80.00, for a total transaction of $2,000,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 59,129 shares of company stock valued at $4,844,560. 1.37% of the stock is currently owned by corporate insiders.
Several hedge funds have recently bought and sold shares of the company. Meadow Creek Investment Management LLC boosted its stake in Royal Gold by 6.2% in the first quarter. Meadow Creek Investment Management LLC now owns 1,648 shares of the basic materials company’s stock valued at $115,000 after buying an additional 96 shares in the last quarter. World Asset Management Inc boosted its stake in Royal Gold by 2.6% in the first quarter. World Asset Management Inc now owns 4,084 shares of the basic materials company’s stock valued at $286,000 after buying an additional 102 shares in the last quarter. US Bancorp DE boosted its stake in Royal Gold by 6.4% in the second quarter. US Bancorp DE now owns 2,120 shares of the basic materials company’s stock valued at $166,000 after buying an additional 127 shares in the last quarter. Neuburgh Advisers LLC boosted its stake in Royal Gold by 6.2% in the first quarter. Neuburgh Advisers LLC now owns 2,266 shares of the basic materials company’s stock valued at $159,000 after buying an additional 132 shares in the last quarter. Finally, Profund Advisors LLC boosted its stake in Royal Gold by 0.6% in the first quarter. Profund Advisors LLC now owns 24,927 shares of the basic materials company’s stock valued at $1,746,000 after buying an additional 137 shares in the last quarter. Institutional investors and hedge funds own 70.56% of the company’s stock.
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.
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