UBS upgraded shares of Royal Gold (NASDAQ:RGLD) (TSE:RGL) from a market perform rating to an outperform rating in a report issued on Wednesday morning, The Fly reports.
Several other equities research analysts have also recently commented on the company. Canaccord Genuity cut Royal Gold from a buy rating to a hold rating and cut their price target for the company from $109.00 to $99.00 in a report on Thursday, December 28th. TD Securities initiated coverage on Royal Gold in a report on Friday, December 8th. They issued a buy rating for the company. Cantor Fitzgerald began coverage on Royal Gold in a report on Thursday, January 4th. They issued a buy rating and a $105.00 price target for the company. Zacks Investment Research cut Royal Gold from a buy rating to a hold rating in a research note on Saturday, January 13th. Finally, Bank of America cut their target price on Royal Gold from $109.00 to $99.00 and set a hold rating for the company in a research note on Thursday, December 28th. Nine analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $95.38.
Shares of Royal Gold (NASDAQ:RGLD) opened at $83.80 on Wednesday. Royal Gold has a fifty-two week low of $64.21 and a fifty-two week high of $94.39. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.98 and a quick ratio of 3.80. The company has a market capitalization of $5,484.50, a P/E ratio of 55.13, a P/E/G ratio of 4.97 and a beta of 0.70.
Royal Gold (NASDAQ:RGLD) (TSE:RGL) last posted its quarterly earnings results on Thursday, February 8th. The basic materials company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.01). Royal Gold had a net margin of 13.00% and a return on equity of 4.31%. The company had revenue of $114.35 million during the quarter, compared to analyst estimates of $114.79 million. During the same period in the prior year, the business posted $0.36 EPS. Royal Gold’s revenue for the quarter was up 6.9% compared to the same quarter last year. research analysts forecast that Royal Gold will post 1.69 EPS for the current year.
In other Royal Gold news, CFO Stefan Wenger sold 1,500 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $88.50, for a total transaction of $132,750.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.12% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of RGLD. First Trust Advisors LP grew its stake in shares of Royal Gold by 39.5% in the third quarter. First Trust Advisors LP now owns 61,500 shares of the basic materials company’s stock valued at $5,291,000 after buying an additional 17,400 shares in the last quarter. Victory Capital Management Inc. acquired a new stake in shares of Royal Gold in the third quarter valued at $1,267,000. Canada Pension Plan Investment Board acquired a new stake in shares of Royal Gold in the third quarter valued at $2,108,000. American Century Companies Inc. grew its stake in shares of Royal Gold by 3.0% in the third quarter. American Century Companies Inc. now owns 146,821 shares of the basic materials company’s stock valued at $12,632,000 after buying an additional 4,300 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of Royal Gold by 1.3% in the third quarter. Principal Financial Group Inc. now owns 298,458 shares of the basic materials company’s stock valued at $25,679,000 after buying an additional 3,806 shares in the last quarter. 77.66% of the stock is owned by institutional investors and hedge funds.
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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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