Zacks Investment Research upgraded shares of Royal Gold (NASDAQ:RGLD) (TSE:RGL) from a hold rating to a strong-buy rating in a research note issued to investors on Wednesday morning. The firm currently has $94.00 target price on the basic materials company’s stock.
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 brokerages also recently commented on RGLD. National Bank Financial upped their price target on shares of Royal Gold from $82.50 to $92.50 and gave the company a sector perform rating in a report on Thursday, August 10th. Canaccord Genuity reiterated a buy rating and set a $105.00 price target (up from $99.00) on shares of Royal Gold in a report on Thursday, August 10th. FBR & Co upped their price target on shares of Royal Gold from $81.00 to $85.00 and gave the company a market perform rating in a report on Wednesday, August 16th. BMO Capital Markets reiterated a buy rating and set a $95.00 price target on shares of Royal Gold in a report on Wednesday, September 6th. Finally, Royal Bank Of Canada reiterated an outperform rating on shares of Royal Gold in a report on Thursday, September 7th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Royal Gold has a consensus rating of Hold and a consensus target price of $96.28.
Shares of Royal Gold (RGLD) traded up $1.36 during midday trading on Wednesday, hitting $83.15. 422,284 shares of the stock traded hands, compared to its average volume of 360,538. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.92 and a quick ratio of 3.73. The stock has a market cap of $5,353.50, a PE ratio of 55.64, a price-to-earnings-growth ratio of 4.64 and a beta of 0.46. Royal Gold has a 52-week low of $60.21 and a 52-week high of $94.39.
Royal Gold (NASDAQ:RGLD) (TSE:RGL) last announced its earnings results on Wednesday, November 1st. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.07. The firm had revenue of $112.50 million for the quarter, compared to analysts’ expectations of $112.43 million. Royal Gold had a net margin of 23.06% and a return on equity of 4.12%. The business’s revenue was down 4.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.46 EPS. equities analysts forecast that Royal Gold will post 1.76 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, January 19th. Investors of record on Friday, January 5th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.20%. This is an increase from Royal Gold’s previous quarterly dividend of $0.24. The ex-dividend date is Thursday, January 4th. Royal Gold’s dividend payout ratio is presently 62.34%.
In related news, CFO Stefan Wenger sold 1,500 shares of the company’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $85.88, for a total transaction of $128,820.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.12% of the company’s stock.
A number of hedge funds have recently modified their holdings of RGLD. US Bancorp DE grew its stake in Royal Gold by 6.4% in the 2nd quarter. US Bancorp DE now owns 2,120 shares of the basic materials company’s stock worth $166,000 after acquiring an additional 127 shares in the last quarter. Janney Montgomery Scott LLC bought a new position in Royal Gold in the 2nd quarter worth about $256,000. World Asset Management Inc grew its stake in Royal Gold by 6.5% in the 2nd quarter. World Asset Management Inc now owns 4,351 shares of the basic materials company’s stock worth $340,000 after acquiring an additional 267 shares in the last quarter. Sei Investments Co. grew its stake in Royal Gold by 660.2% in the 2nd quarter. Sei Investments Co. now owns 9,982 shares of the basic materials company’s stock worth $780,000 after acquiring an additional 8,669 shares in the last quarter. Finally, IFP Advisors Inc grew its stake in Royal Gold by 1.7% in the 2nd quarter. IFP Advisors Inc now owns 2,343 shares of the basic materials company’s stock worth $183,000 after acquiring an additional 39 shares in the last quarter. Institutional investors and hedge funds own 72.04% of the company’s stock.
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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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