Royal Gold, Inc. (RGLD) Given Average Rating of “Buy” by Analysts
Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) has been assigned a consensus rating of “Buy” from the fourteen brokerages that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, five have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $91.95.
Several research analysts have weighed in on RGLD shares. Zacks Investment Research upgraded Royal Gold from a “hold” rating to a “buy” rating and set a $88.00 target price on the stock in a research note on Wednesday, July 12th. Macquarie cut Royal Gold from an “outperform” rating to a “neutral” rating in a report on Wednesday, July 12th. BidaskClub raised Royal Gold from a “hold” rating to a “buy” rating in a report on Saturday, July 8th. BMO Capital Markets reissued a “buy” rating and issued a $95.00 price target on shares of Royal Gold in a report on Thursday, June 29th. Finally, Barclays PLC reissued an “overweight” rating and issued a $84.00 price target (up from $83.00) on shares of Royal Gold in a report on Tuesday, June 6th.
Shares of Royal Gold (NASDAQ:RGLD) opened at 87.23 on Friday. The stock has a market cap of $5.69 billion, a price-to-earnings ratio of 56.28 and a beta of 0.68. The company has a 50-day moving average price of $82.15 and a 200-day moving average price of $74.41. Royal Gold has a 12 month low of $60.21 and a 12 month high of $88.03.
Royal Gold (NASDAQ:RGLD) (TSE:RGL) last released its quarterly earnings results on Wednesday, August 9th. The basic materials company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by $0.02. The firm had revenue of $108.90 million for the quarter, compared to analysts’ expectations of $108.72 million. Royal Gold had a return on equity of 4.19% and a net margin of 23.03%. The company’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.32 EPS. On average, analysts expect that Royal Gold will post $1.91 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, July 21st. Stockholders of record on Friday, July 7th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.10%. The ex-dividend date of this dividend was Wednesday, July 5th. Royal Gold’s payout ratio is 61.54%.
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In other news, CFO Stefan Wenger sold 500 shares of the company’s stock in a transaction dated Wednesday, July 12th. The stock was sold at an average price of $80.00, for a total value of $40,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Tony A. Jensen sold 25,000 shares of the company’s stock in a transaction dated 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. Insiders sold 57,629 shares of company stock valued at $4,736,660 in the last ninety days. Company insiders own 1.37% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quadrature Capital Ltd acquired a new position in Royal Gold during the fourth quarter valued at approximately $352,000. Teachers Advisors LLC boosted its position 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 valued at $8,870,000 after buying an additional 17,977 shares during the period. Louisiana State Employees Retirement System boosted its position in Royal Gold by 2.5% in the first quarter. Louisiana State Employees Retirement System now owns 16,500 shares of the basic materials company’s stock valued at $1,156,000 after buying an additional 400 shares during the period. Hexavest Inc. acquired a new position in Royal Gold during the first quarter valued at approximately $166,000. Finally, Profund Advisors LLC boosted its position 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 during the period. Institutional investors and hedge funds own 70.57% 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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