Royal Gold (NASDAQ:RGLD) PT Lowered to $160.00

Royal Gold (NASDAQ:RGLD) (TSE:RGL) had its target price dropped by equities research analysts at BMO Capital Markets from $162.00 to $160.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the basic materials company’s stock. BMO Capital Markets’ price objective would indicate a potential upside of 29.59% from the company’s previous close.

A number of other equities analysts have also recently issued reports on the stock. Cantor Fitzgerald cut shares of Royal Gold from an “overweight” rating to a “neutral” rating in a research note on Thursday, February 15th. National Bank Financial raised shares of Royal Gold from a “sector perform” rating to an “outperform” rating in a research note on Thursday, February 15th. Finally, Jefferies Financial Group began coverage on shares of Royal Gold in a report on Thursday, February 29th. They issued a “hold” rating and a $117.00 target price on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $141.14.

Royal Gold Price Performance

Shares of RGLD traded up $0.06 during mid-day trading on Thursday, hitting $123.47. 167,393 shares of the company traded hands, compared to its average volume of 425,058. Royal Gold has a one year low of $100.55 and a one year high of $141.62. The company has a current ratio of 2.31, a quick ratio of 2.18 and a debt-to-equity ratio of 0.08. The business has a 50-day moving average of $117.80 and a 200 day moving average of $115.69. The stock has a market capitalization of $8.12 billion, a price-to-earnings ratio of 34.14, a PEG ratio of 6.99 and a beta of 0.88.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last released its quarterly earnings results on Wednesday, May 8th. The basic materials company reported $0.91 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.04). Royal Gold had a net margin of 39.53% and a return on equity of 8.18%. The company had revenue of $148.90 million for the quarter, compared to the consensus estimate of $147.02 million. During the same period last year, the company earned $0.96 earnings per share. Royal Gold’s revenue for the quarter was down 12.6% compared to the same quarter last year. As a group, equities analysts expect that Royal Gold will post 4.36 earnings per share for the current fiscal year.

Insider Buying and Selling at Royal Gold

In other Royal Gold news, SVP Randy Shefman sold 500 shares of Royal Gold stock in a transaction on Monday, March 11th. The shares were sold at an average price of $113.00, for a total value of $56,500.00. Following the sale, the senior vice president now directly owns 12,127 shares in the company, valued at approximately $1,370,351. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.52% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. River Road Asset Management LLC boosted its holdings in shares of Royal Gold by 19.4% during the 4th quarter. River Road Asset Management LLC now owns 52,578 shares of the basic materials company’s stock worth $6,360,000 after buying an additional 8,550 shares during the period. Louisiana State Employees Retirement System bought a new stake in shares of Royal Gold during the 4th quarter worth about $2,238,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Royal Gold during the 3rd quarter worth about $1,138,000. American Century Companies Inc. boosted its holdings in shares of Royal Gold by 28.0% during the 3rd quarter. American Century Companies Inc. now owns 236,621 shares of the basic materials company’s stock worth $25,160,000 after buying an additional 51,795 shares during the period. Finally, California Public Employees Retirement System boosted its holdings in shares of Royal Gold by 3.1% during the 4th quarter. California Public Employees Retirement System now owns 247,112 shares of the basic materials company’s stock worth $29,891,000 after buying an additional 7,334 shares during the period. Institutional investors own 83.65% of the company’s stock.

About Royal Gold

Royal Gold, Inc, together with its subsidiaries, acquires and manages precious metal streams, royalties, and related interests. The company engages in acquiring stream and royalty interests or to finance projects that are in production, development, or in the exploration stage in exchange for stream or royalty interests, which primarily consists of gold, silver, copper, nickel, zinc, lead, and other metals.