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.
Several other research firms have also issued reports on RGLD. Scotiabank set a $88.00 target price on Royal Gold and gave the stock a hold rating in a research note on Thursday, August 9th. Zacks Investment Research raised Royal Gold from a sell rating to a hold rating in a research note on Monday, October 15th. Raymond James decreased their target price on Royal Gold from $99.00 to $98.00 and set an outperform rating on the stock in a research note on Monday, September 17th. TD Securities lowered Royal Gold from a buy rating to a hold rating and reduced their price target for the company from $97.00 to $88.00 in a research report on Friday, November 2nd. Finally, BidaskClub raised Royal Gold from a strong sell rating to a sell rating in a research report on Wednesday, October 31st. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $95.86.
RGLD traded up $2.14 during mid-day trading on Friday, hitting $78.44. 490,102 shares of the stock were exchanged, compared to its average volume of 361,813. Royal Gold has a 1-year low of $70.16 and a 1-year high of $98.53. The company has a current ratio of 4.27, a quick ratio of 4.00 and a debt-to-equity ratio of 0.17. The firm 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 (NASDAQ:RGLD) (TSE:RGL) last posted its earnings results on Wednesday, October 31st. The basic materials company reported $0.23 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.14). Royal Gold had a positive return on equity of 4.66% and a negative net margin of 28.39%. The firm had revenue of $100.00 million for the quarter, compared to analyst estimates of $98.88 million. During the same period in the previous year, the company posted $0.44 EPS. Royal Gold’s revenue was down 11.1% on a year-over-year basis. On average, research analysts forecast that Royal Gold will post 1.47 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 18th. Shareholders of record on Friday, January 4th will be given a $0.265 dividend. The ex-dividend date is Thursday, January 3rd. This represents a $1.06 dividend on an annualized basis and a yield of 1.35%. This is a positive change from Royal Gold’s previous quarterly dividend of $0.25. Royal Gold’s dividend payout ratio (DPR) is currently 56.82%.
In related news, Director Sybil E. Veenman purchased 500 shares of Royal Gold stock in a transaction on Wednesday, September 26th. The shares were bought at an average price of $78.11 per share, with a total value of $39,055.00. Following the transaction, the director now directly owns 2,515 shares of the company’s stock, valued at $196,446.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jamie C. Sokalsky purchased 2,000 shares of Royal Gold stock in a transaction on Monday, September 17th. The stock was bought at an average cost of $77.18 per share, for a total transaction of $154,360.00. Following the transaction, the director now directly 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 company insiders.
Hedge funds have recently bought and sold shares of the business. Clearbridge Investments LLC increased its holdings in shares of Royal Gold by 52,558.9% in the 3rd quarter. Clearbridge Investments LLC now owns 582,934 shares of the basic materials company’s stock valued at $44,921,000 after acquiring an additional 581,827 shares during the last quarter. Vanguard Group Inc. grew its stake in Royal Gold by 1.8% during the 3rd quarter. Vanguard Group Inc. now owns 6,410,978 shares of the basic materials company’s stock worth $494,029,000 after buying an additional 113,273 shares during the last quarter. Legal & General Group Plc grew its stake in Royal Gold by 2.1% during the 3rd quarter. Legal & General Group Plc now owns 102,944 shares of the basic materials company’s stock worth $7,933,000 after buying an additional 2,104 shares during the last quarter. TIAA CREF Investment Management LLC grew its stake in shares of Royal Gold by 2.6% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 325,892 shares of the basic materials company’s stock valued at $25,113,000 after purchasing an additional 8,355 shares during the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of Royal Gold by 383.6% in the 3rd quarter. AQR Capital Management LLC now owns 49,565 shares of the basic materials company’s stock valued at $3,819,000 after purchasing an additional 39,315 shares during the last quarter. 75.26% of the stock is currently owned by 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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