Royal Gold, Inc. (NASDAQ:RGLD) Price Target Increased to $92.50 by Analysts at National Bank Financial
Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) had its price target increased by National Bank Financial from $82.50 to $92.50 in a note issued to investors on Thursday. The brokerage presently has a “sector perform” rating on the basic materials company’s stock. National Bank Financial’s price target would indicate a potential upside of 8.90% from the stock’s current price.
Several other equities analysts also recently weighed in on RGLD. Zacks Investment Research downgraded shares of Royal Gold from a “buy” rating to a “hold” rating in a research note on Tuesday, July 18th. Barclays PLC reissued an “overweight” rating and issued a $84.00 price target (up from $83.00) on shares of Royal Gold in a research note on Tuesday, June 6th. BidaskClub raised shares of Royal Gold from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 25th. Macquarie downgraded shares of Royal Gold from an “outperform” rating to a “neutral” rating in a research note on Wednesday, July 12th. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $95.00 target price on shares of Royal Gold in a research note on Friday, May 26th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Royal Gold currently has an average rating of “Buy” and a consensus target price of $90.68.
Shares of Royal Gold (NASDAQ:RGLD) traded up 2.00% during mid-day trading on Thursday, hitting $86.64. 649,675 shares of the stock traded hands. Royal Gold has a 12 month low of $60.21 and a 12 month high of $88.03. The company has a market cap of $5.66 billion, a P/E ratio of 55.36 and a beta of 0.68. The firm has a 50 day moving average of $81.57 and a 200 day moving average of $74.20.
Royal Gold (NASDAQ:RGLD) (TSE:RGL) last posted its quarterly earnings results on Wednesday, August 9th. The basic materials company reported $0.31 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by $0.02. The business had revenue of $108.90 million during the quarter, compared to analysts’ expectations of $108.72 million. Royal Gold had a return on equity of 4.22% and a net margin of 23.93%. The business’s quarterly revenue was up 15.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.32 earnings per share. Equities analysts anticipate that Royal Gold will post $1.96 EPS for the current fiscal year.
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In other news, CEO Tony A. Jensen sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $80.00, for a total value of $2,000,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Stefan Wenger sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $80.06, for a total transaction of $160,120.00. The disclosure for this sale can be found here. Insiders sold a total of 57,629 shares of company stock worth $4,736,660 over the last three months. Insiders own 1.37% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Royal Gold by 6.5% in the first quarter. Vanguard Group Inc. now owns 5,778,135 shares of the basic materials company’s stock worth $404,759,000 after buying an additional 355,155 shares during the period. Van ECK Associates Corp increased its stake in Royal Gold by 15.8% in 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 during the period. First Eagle Investment Management LLC increased its stake in Royal Gold by 2.2% in the second quarter. First Eagle Investment Management LLC now owns 3,479,449 shares of the basic materials company’s stock worth $271,989,000 after buying an additional 73,384 shares during the period. State Street Corp increased its stake in Royal Gold by 4.8% in the first quarter. State Street Corp now owns 2,354,371 shares of the basic materials company’s stock worth $164,922,000 after buying an additional 108,212 shares during the period. Finally, Gabelli Funds LLC increased its stake in Royal Gold by 4.3% in the second quarter. Gabelli Funds LLC now owns 686,700 shares of the basic materials company’s stock worth $53,679,000 after buying an additional 28,000 shares during the period. 70.57% 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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