Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL)‘s stock had its “buy” rating reissued by BMO Capital Markets in a research note issued to investors on Wednesday, September 6th. They presently have a $95.00 target price on the basic materials company’s stock. BMO Capital Markets’ price objective points to a potential upside of 5.96% from the company’s previous close.
Several other equities research analysts have also recently issued reports on the company. FBR & Co lifted their price objective on Royal Gold from $81.00 to $85.00 and gave the stock a “market perform” rating in a report on Wednesday, August 16th. Canaccord Genuity reiterated a “buy” rating and issued a $105.00 price objective (up from $99.00) on shares of Royal Gold in a report on Thursday, August 10th. National Bank Financial lifted their price objective on Royal Gold from $82.50 to $92.50 and gave the stock a “sector perform” rating in a report on Thursday, August 10th. Zacks Investment Research cut Royal Gold from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Finally, BidaskClub upgraded Royal Gold from a “buy” rating to a “strong-buy” rating in a report on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Royal Gold currently has a consensus rating of “Buy” and a consensus target price of $91.95.
Royal Gold (NASDAQ:RGLD) opened at 89.66 on Wednesday. The stock has a 50 day moving average price of $89.02 and a 200-day moving average price of $78.29. The company has a market cap of $5.86 billion, a price-to-earnings ratio of 57.85 and a beta of 0.63. Royal Gold has a 1-year low of $60.21 and a 1-year high of $94.39.
Royal Gold (NASDAQ:RGLD) (TSE:RGL) last announced 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). Royal Gold had a net margin of 23.03% and a return on equity of 4.19%. The business had revenue of $108.90 million during the quarter, compared to analysts’ expectations of $108.72 million. During the same quarter in the prior year, the firm earned $0.32 EPS. Royal Gold’s revenue for the quarter was up 15.7% on a year-over-year basis. On average, equities research analysts forecast that Royal Gold will post $1.80 EPS for the current year.
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In related news, VP Karli S. Anderson sold 2,262 shares of the company’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $91.45, for a total value of $206,859.90. Following the transaction, the vice president now directly owns 20,081 shares in the company, valued at $1,836,407.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Stefan Wenger sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $77.05, for a total value of $115,575.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 106,845 shares of company stock worth $9,306,508. Insiders own 1.37% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in Royal Gold by 1.3% in the second quarter. Vanguard Group Inc. now owns 5,851,247 shares of the basic materials company’s stock valued at $457,392,000 after acquiring an additional 73,112 shares during the last quarter. Van ECK Associates Corp lifted its holdings 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 valued at $343,321,000 after acquiring an additional 667,497 shares during the last quarter. Capital World Investors lifted its holdings in Royal Gold by 25.7% in the second quarter. Capital World Investors now owns 4,158,000 shares of the basic materials company’s stock valued at $325,031,000 after acquiring an additional 849,900 shares during the last quarter. First Eagle Investment Management LLC raised its position 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 valued at $271,989,000 after purchasing an additional 73,384 shares during the period. Finally, State Street Corp raised its position 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 valued at $164,922,000 after purchasing an additional 108,212 shares during the period. Hedge funds and other institutional investors own 70.43% 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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