BidaskClub cut shares of Royal Gold (NASDAQ:RGLD) (TSE:RGL) from a hold rating to a sell rating in a report issued on Thursday morning.
A number of other analysts have also recently issued reports on RGLD. Canaccord Genuity raised Royal Gold from a hold rating to a buy rating in a research report on Thursday, February 8th. National Bank Financial raised their price objective on Royal Gold from $100.00 to $102.50 and gave the company a sector perform rating in a research report on Friday, February 9th. Raymond James cut their price objective on Royal Gold from $93.00 to $90.00 and set a market perform rating for the company in a research report on Monday, February 26th. Scotiabank set a $89.00 price objective on Royal Gold and gave the company a hold rating in a research report on Tuesday, March 6th. Finally, UBS raised Royal Gold from a market perform rating to an outperform rating in a research report on Wednesday, March 14th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $96.46.
Shares of NASDAQ RGLD opened at $88.58 on Thursday. Royal Gold has a 52 week low of $74.35 and a 52 week high of $94.39. The company has a quick ratio of 3.20, a current ratio of 3.49 and a debt-to-equity ratio of 0.20. The company has a market cap of $5.80 billion, a P/E ratio of 54.01, a P/E/G ratio of 5.03 and a beta of 0.65.
Royal Gold (NASDAQ:RGLD) (TSE:RGL) last issued its quarterly earnings results on Thursday, May 3rd. The basic materials company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.43 by $0.05. Royal Gold had a positive return on equity of 4.73% and a negative net margin of 26.51%. The firm had revenue of $116.00 million during the quarter, compared to analysts’ expectations of $111.66 million. During the same period in the prior year, the firm posted $0.36 earnings per share. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. equities research analysts anticipate that Royal Gold will post 1.76 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, April 20th. Stockholders of record on Friday, April 6th were paid a dividend of $0.25 per share. The ex-dividend date was Thursday, April 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.13%. Royal Gold’s dividend payout ratio (DPR) is currently 64.52%.
In other news, CFO Stefan Wenger sold 1,500 shares of the stock in a transaction that occurred on Friday, March 23rd. The stock was sold at an average price of $85.00, for a total transaction of $127,500.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In the last quarter, insiders have sold 4,500 shares of company stock worth $388,650. 1.12% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Municipal Employees Retirement System of Michigan increased its stake in shares of Royal Gold by 2.9% during the first quarter. Municipal Employees Retirement System of Michigan now owns 20,340 shares of the basic materials company’s stock worth $1,747,000 after purchasing an additional 580 shares during the period. Thrivent Financial for Lutherans increased its stake in shares of Royal Gold by 4.1% during the first quarter. Thrivent Financial for Lutherans now owns 14,835 shares of the basic materials company’s stock worth $1,274,000 after purchasing an additional 589 shares during the period. Kovack Advisors Inc. increased its stake in shares of Royal Gold by 13.3% during the first quarter. Kovack Advisors Inc. now owns 5,100 shares of the basic materials company’s stock worth $438,000 after purchasing an additional 600 shares during the period. Mason Street Advisors LLC increased its stake in shares of Royal Gold by 1.9% during the first quarter. Mason Street Advisors LLC now owns 32,875 shares of the basic materials company’s stock worth $2,823,000 after purchasing an additional 628 shares during the period. Finally, Meadow Creek Investment Management LLC increased its stake in shares of Royal Gold by 20.9% during the fourth quarter. Meadow Creek Investment Management LLC now owns 3,984 shares of the basic materials company’s stock worth $327,000 after purchasing an additional 688 shares during the period. Institutional investors own 77.59% of the company’s stock.
About Royal Gold
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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