TD Securities downgraded shares of Royal Gold (NASDAQ:RGLD) (TSE:RGL) from a buy rating to a hold rating in a research note released on Friday, Marketbeat Ratings reports. TD Securities currently has $88.00 price target on the basic materials company’s stock, down from their previous price target of $97.00.
Several other analysts have also issued reports on RGLD. Zacks Investment Research lowered shares of Royal Gold from a hold rating to a strong sell rating in a research report on Friday, October 26th. BidaskClub upgraded shares of Royal Gold from a strong sell rating to a sell rating in a research report on Wednesday. Raymond James set a $94.00 target price on shares of Royal Gold and gave the company a buy rating in a research report on Thursday. Barclays initiated coverage on shares of Royal Gold in a research report on Wednesday, October 10th. They issued an equal weight rating and a $78.00 target price on the stock. Finally, Canaccord Genuity set a $102.00 target price on shares of Royal Gold and gave the company a buy rating in a research report on Tuesday, July 24th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $95.95.
RGLD stock traded up $0.11 during midday trading on Friday, hitting $76.76. 724,898 shares of the stock traded hands, compared to its average volume of 565,931. The firm has a market cap of $5.03 billion, a PE ratio of 49.52, a P/E/G ratio of 4.56 and a beta of 0.43. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.27 and a current ratio of 4.27. Royal Gold has a 1-year low of $71.91 and a 1-year high of $98.53.
Royal Gold (NASDAQ:RGLD) (TSE:RGL) last released its quarterly earnings results on Wednesday, October 31st. The basic materials company reported $0.23 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.14). The firm had revenue of $100.00 million for the quarter, compared to analyst estimates of $98.88 million. Royal Gold had a negative net margin of 28.39% and a positive return on equity of 4.66%. The firm’s quarterly revenue was down 11.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.44 EPS. Research analysts predict that Royal Gold will post 1.69 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, October 19th. Stockholders of record on Friday, October 5th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.30%. The ex-dividend date was Thursday, October 4th. Royal Gold’s dividend payout ratio is currently 56.82%.
In other Royal Gold news, Director Sybil E. Veenman purchased 500 shares of the firm’s stock in a transaction dated Wednesday, September 26th. The shares were purchased at an average cost of $78.11 per share, with a total value of $39,055.00. Following the completion of the purchase, the director now owns 2,515 shares in the company, valued at approximately $196,446.65. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jamie C. Sokalsky purchased 2,000 shares of the firm’s stock in a transaction dated Monday, September 17th. The stock was acquired at an average cost of $77.18 per share, for a total transaction of $154,360.00. Following the completion of the purchase, the director now owns 10,185 shares of the company’s stock, valued at approximately $786,078.30. The disclosure for this purchase can be found here. Over the last three months, insiders bought 4,500 shares of company stock worth $347,915. Insiders own 0.95% of the company’s stock.
Several large investors have recently bought and sold shares of the company. Van ECK Associates Corp lifted its stake in shares of Royal Gold by 11.6% in the second quarter. Van ECK Associates Corp now owns 3,830,976 shares of the basic materials company’s stock worth $355,668,000 after buying an additional 399,288 shares in the last quarter. Northern Trust Corp lifted its stake in shares of Royal Gold by 3.0% in the second quarter. Northern Trust Corp now owns 742,461 shares of the basic materials company’s stock worth $68,931,000 after buying an additional 21,451 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Royal Gold by 1.6% in the second quarter. Dimensional Fund Advisors LP now owns 733,778 shares of the basic materials company’s stock worth $68,118,000 after buying an additional 11,711 shares in the last quarter. Gabelli Funds LLC lifted its stake in shares of Royal Gold by 4.6% in the third quarter. Gabelli Funds LLC now owns 719,000 shares of the basic materials company’s stock worth $55,406,000 after buying an additional 31,500 shares in the last quarter. Finally, St. James Investment Company LLC lifted its stake in shares of Royal Gold by 22.4% in the third quarter. St. James Investment Company LLC now owns 703,854 shares of the basic materials company’s stock worth $54,239,000 after buying an additional 128,800 shares in the last quarter. 75.15% of the stock is currently owned by hedge funds and other institutional investors.
About Royal Gold
Royal Gold, Inc engages in the acquisition and management of metal streams, royalties, and similar interests. It operates through the Acquisition and Management of Stream Interests and Acquisition and Management of Royalty Interests segments. The Acquisition and Management of Stream Interests segment involves in the purchase agreement that provides, in exchange for an upfront deposit payment, the right to purchase all or a portion of one or more metals.
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