ValuEngine upgraded shares of Royal Gold (NASDAQ:RGLD) (TSE:RGL) from a hold rating to a buy rating in a research note issued to investors on Friday morning.
Several other analysts have also recently commented on RGLD. BidaskClub upgraded Royal Gold from a sell rating to a hold rating in a research report on Friday. Scotiabank set a $88.00 price target on Royal Gold and gave the stock a hold rating in a research report on Thursday, August 9th. Zacks Investment Research cut Royal Gold from a hold rating to a sell rating in a research report on Monday, September 17th. Raymond James dropped their price target on Royal Gold from $99.00 to $98.00 and set an outperform rating for the company in a research report on Monday, September 17th. Finally, Barclays dropped their price target on Royal Gold from $78.00 to $77.00 and set an equal weight rating for the company in a research report on Wednesday, November 14th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company. The company has a consensus rating of Hold and an average target price of $95.86.
Shares of RGLD stock traded up $2.14 during trading hours on Friday, hitting $78.44. 490,102 shares of the company’s stock were exchanged, compared to its average volume of 361,813. The company has a debt-to-equity ratio of 0.17, a current ratio of 4.27 and a quick ratio of 4.00. The company has a market cap of $5.00 billion, a price-to-earnings ratio of 44.57, a PEG ratio of 5.18 and a beta of 0.46. Royal Gold has a fifty-two week low of $70.16 and a fifty-two week high of $98.53.
Royal Gold (NASDAQ:RGLD) (TSE:RGL) last announced its earnings results on Wednesday, October 31st. The basic materials company reported $0.23 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.14). The business had revenue of $100.00 million for the quarter, compared to analyst estimates of $98.88 million. Royal Gold had a positive return on equity of 4.66% and a negative net margin of 28.39%. The company’s quarterly revenue was down 11.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.44 earnings per share. Analysts anticipate that Royal Gold will post 1.47 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 18th. Shareholders of record on Friday, January 4th will be issued a $0.265 dividend. This is a boost from Royal Gold’s previous quarterly dividend of $0.25. This represents a $1.06 annualized dividend and a yield of 1.35%. The ex-dividend date of this dividend is Thursday, January 3rd. Royal Gold’s dividend payout ratio is presently 56.82%.
In related news, Director Sybil E. Veenman bought 500 shares of the company’s stock in a transaction on Wednesday, September 26th. The stock was bought at an average cost of $78.11 per share, for a total transaction of $39,055.00. Following the acquisition, the director now directly owns 2,515 shares in the company, valued at $196,446.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jamie C. Sokalsky bought 2,000 shares of the company’s stock in a transaction on Monday, September 17th. The stock was bought at an average price of $77.18 per share, with a total value of $154,360.00. Following the completion of the acquisition, the director now owns 10,185 shares in the company, valued at $786,078.30. The disclosure for this purchase can be found here. 0.95% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of the business. Capital World Investors grew its holdings in Royal Gold by 1.5% in the 3rd quarter. Capital World Investors now owns 8,138,500 shares of the basic materials company’s stock valued at $627,153,000 after buying an additional 121,000 shares in the last quarter. Vanguard Group Inc. grew its holdings in Royal Gold by 1.8% in the 3rd quarter. Vanguard Group Inc. now owns 6,410,978 shares of the basic materials company’s stock valued at $494,029,000 after buying an additional 113,273 shares in the last quarter. Van ECK Associates Corp grew its holdings in Royal Gold by 11.6% in the 2nd quarter. Van ECK Associates Corp now owns 3,830,976 shares of the basic materials company’s stock valued at $355,668,000 after buying an additional 399,288 shares in the last quarter. Northern Trust Corp grew its holdings in Royal Gold by 3.0% in the 2nd quarter. Northern Trust Corp now owns 742,461 shares of the basic materials company’s stock valued at $68,931,000 after buying an additional 21,451 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Royal Gold by 0.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 739,381 shares of the basic materials company’s stock valued at $56,973,000 after buying an additional 5,603 shares in the last quarter. Institutional investors own 75.26% of the company’s stock.
Royal Gold Company Profile
Royal Gold, Inc, together with its subsidiaries, acquires and manages precious metal streams, royalties, and related 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, which primarily consists of gold, silver, copper, nickel, zinc, lead, cobalt, and molybdenum.
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