Raymond James Financial upgraded shares of Royal Gold (NASDAQ:RGLD) (TSE:RGL) from a market perform rating to an outperform rating in a research report report published on Wednesday, March 14th, Marketbeat reports. Raymond James Financial currently has $88.00 target price on the basic materials company’s stock, down from their previous target price of $90.00.
A number of other research analysts have also commented on the stock. BidaskClub upgraded shares of Royal Gold from a sell rating to a hold rating in a research report on Thursday, March 15th. UBS upgraded shares of Royal Gold from a market perform rating to an outperform rating in a research report on Wednesday, March 14th. Scotiabank set a $89.00 target price on shares of Royal Gold and gave the stock a hold rating in a research report on Tuesday, March 6th. National Bank Financial upped their target price on shares of Royal Gold from $100.00 to $102.50 and gave the stock a sector perform rating in a research report on Friday, February 9th. Finally, Canaccord Genuity upgraded shares of Royal Gold from a hold rating to a buy rating in a research report on Thursday, February 8th. Nine analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock presently has an average rating of Buy and an average target price of $95.13.
Shares of Royal Gold stock traded up $0.08 during mid-day trading on Wednesday, hitting $86.18. 257,705 shares of the stock were exchanged, compared to its average volume of 469,071. The company has a quick ratio of 3.80, a current ratio of 3.98 and a debt-to-equity ratio of 0.21. The stock has a market cap of $5,635.70, a P/E ratio of 55.60, a P/E/G ratio of 5.11 and a beta of 0.61. Royal Gold has a 12 month low of $67.10 and a 12 month high of $94.39.
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 analysts’ consensus estimates of $0.42 by ($0.01). The company had revenue of $114.35 million during the quarter, compared to the consensus estimate of $114.79 million. Royal Gold had a return on equity of 4.31% and a net margin of 13.00%. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period last year, the firm posted $0.36 EPS. equities analysts anticipate that Royal Gold will post 1.69 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 20th. Stockholders of record on Friday, April 6th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend is Thursday, April 5th. Royal Gold’s dividend payout ratio (DPR) is 64.52%.
In related news, CFO Stefan Wenger sold 1,500 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $88.50, for a total value of $132,750.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last ninety days, insiders have sold 6,000 shares of company stock valued at $516,660. Insiders own 1.12% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. Xact Kapitalforvaltning AB bought a new position in Royal Gold in the fourth quarter worth about $509,000. Envestnet Asset Management Inc. grew its holdings in Royal Gold by 9.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 12,408 shares of the basic materials company’s stock worth $1,019,000 after purchasing an additional 1,104 shares during the period. MetLife Investment Advisors LLC purchased a new stake in Royal Gold in the fourth quarter worth about $3,401,000. Vident Investment Advisory LLC purchased a new stake in Royal Gold in the fourth quarter worth about $223,000. Finally, Belpointe Asset Management LLC purchased a new stake in Royal Gold in the fourth quarter worth about $303,000. 77.65% of the stock is owned by institutional investors.
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Royal Gold Company Profile
Royal Gold, Inc, together with its subsidiaries, acquires and manages precious metal streams, royalties, and similar interests. It focuses on acquiring stream and royalty interests or to finance projects that are in production or in development stage in exchange for stream or royalty interests. As of June 30, 2017, the company owned stream interests in 4 producing property and 2 development stage properties; and owned royalty interests in 35 producing properties, 18 development stage properties, and 135 exploration stage properties.
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