Barclays lowered shares of Royal Gold (NASDAQ:RGLD) (TSE:RGL) from an equal weight rating to an underweight rating in a report issued on Tuesday, BenzingaRatingsTable reports. The firm currently has $105.00 price target on the basic materials company’s stock, up from their previous price target of $88.00.
A number of other equities analysts also recently issued reports on RGLD. TheStreet downgraded Zimmer Biomet from a b- rating to a c rating in a research report on Friday, June 7th. Bank of America set a $35.00 target price on Conagra Brands and gave the company a buy rating in a report on Friday, June 28th. BMO Capital Markets reissued an outperform rating and set a C$11.00 target price on shares of Automotive Properties Real Est Invt TR in a report on Wednesday, March 27th. Zacks Investment Research raised Global Ship Lease from a hold rating to a strong-buy rating and set a $7.75 target price for the company in a report on Monday, June 3rd. Finally, Raymond James set a $60.00 target price on Banner and gave the company a buy rating in a report on Friday, May 3rd. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $99.85.
Shares of RGLD stock opened at $117.50 on Tuesday. The stock has a market capitalization of $7.70 billion, a P/E ratio of 66.76, a P/E/G ratio of 5.27 and a beta of 0.21. The business’s 50 day simple moving average is $99.76. The company has a quick ratio of 5.13, a current ratio of 5.39 and a debt-to-equity ratio of 0.17. Royal Gold has a 12-month low of $70.16 and a 12-month high of $117.80.
Royal Gold (NASDAQ:RGLD) (TSE:RGL) last issued its quarterly earnings results on Wednesday, May 1st. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.01). The business had revenue of $109.80 million for the quarter, compared to analysts’ expectations of $115.32 million. Royal Gold had a return on equity of 4.36% and a net margin of 22.19%. The business’s revenue for the quarter was down 5.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.48 EPS. Equities research analysts anticipate that Royal Gold will post 1.51 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 19th. Shareholders of record on Friday, July 5th will be issued a dividend of $0.265 per share. The ex-dividend date of this dividend is Wednesday, July 3rd. This represents a $1.06 dividend on an annualized basis and a dividend yield of 0.90%. Royal Gold’s payout ratio is currently 60.23%.
In related news, CEO Tony A. Jensen sold 38,821 shares of the stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $92.42, for a total value of $3,587,836.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ronald J. Vance sold 1,930 shares of the stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $94.77, for a total value of $182,906.10. The disclosure for this sale can be found here. Insiders have sold 87,423 shares of company stock valued at $8,138,746 in the last three months. Insiders own 0.95% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Amalgamated Bank increased its stake in Royal Gold by 19.3% during the fourth quarter. Amalgamated Bank now owns 13,791 shares of the basic materials company’s stock worth $1,181,000 after acquiring an additional 2,234 shares during the last quarter. OLD Mission Capital LLC acquired a new stake in Royal Gold during the fourth quarter worth $246,000. Cordasco Financial Network increased its stake in Royal Gold by 72.4% during the first quarter. Cordasco Financial Network now owns 293 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 123 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in Royal Gold by 20.2% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 21,419 shares of the basic materials company’s stock worth $1,948,000 after acquiring an additional 3,597 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its stake in Royal Gold by 3.8% during the first quarter. State of Alaska Department of Revenue now owns 42,296 shares of the basic materials company’s stock worth $3,844,000 after acquiring an additional 1,532 shares during the last quarter. 79.23% of the stock is owned by hedge funds and other institutional investors.
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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