Royal Gold (NASDAQ:RGLD) Cut to “Hold” at Zacks Research

Royal Gold (NASDAQ:RGLD) (TSE:RGL) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Tuesday,Zacks.com reports.

Several other research firms have also commented on RGLD. BMO Capital Markets set a $240.00 price target on shares of Royal Gold and gave the stock an “outperform” rating in a research report on Tuesday, October 21st. Canadian Imperial Bank of Commerce reissued a “neutral” rating and set a $330.00 target price on shares of Royal Gold in a research note on Wednesday, February 4th. Raymond James Financial set a $264.00 price target on shares of Royal Gold in a research note on Thursday, November 6th. Wall Street Zen downgraded Royal Gold from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Finally, Scotiabank cut Royal Gold from a “sector outperform” rating to a “sector perform” rating and set a $335.00 price target for the company. in a research note on Monday, January 26th. Seven equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $251.50.

Royal Gold Trading Down 0.5%

NASDAQ RGLD opened at $277.77 on Tuesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.68 and a current ratio of 2.89. Royal Gold has a one year low of $142.95 and a one year high of $306.25. The company has a 50-day simple moving average of $254.25 and a 200-day simple moving average of $210.03. The firm has a market capitalization of $23.44 billion, a PE ratio of 38.16, a price-to-earnings-growth ratio of 0.83 and a beta of 0.49.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last released its quarterly earnings data on Wednesday, February 18th. The basic materials company reported $1.92 earnings per share for the quarter, missing the consensus estimate of $2.68 by ($0.76). Royal Gold had a return on equity of 14.14% and a net margin of 55.99%.The business had revenue of $360.85 million for the quarter, compared to analyst estimates of $425.47 million. During the same quarter last year, the company earned $1.63 EPS. Royal Gold’s revenue was up 85.2% compared to the same quarter last year. On average, equities analysts forecast that Royal Gold will post 6.2 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Goldman Sachs Group Inc. boosted its position in shares of Royal Gold by 99.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 168,846 shares of the basic materials company’s stock valued at $27,608,000 after purchasing an additional 84,206 shares in the last quarter. Focus Partners Wealth lifted its stake in Royal Gold by 51.5% during the first quarter. Focus Partners Wealth now owns 8,465 shares of the basic materials company’s stock valued at $1,384,000 after purchasing an additional 2,876 shares during the last quarter. Stratos Wealth Partners LTD. boosted its holdings in Royal Gold by 14.3% during the second quarter. Stratos Wealth Partners LTD. now owns 2,015 shares of the basic materials company’s stock worth $358,000 after buying an additional 252 shares in the last quarter. Avidian Wealth Enterprises LLC grew its position in Royal Gold by 15.2% in the second quarter. Avidian Wealth Enterprises LLC now owns 2,576 shares of the basic materials company’s stock worth $458,000 after buying an additional 340 shares during the last quarter. Finally, Securian Asset Management Inc. increased its holdings in shares of Royal Gold by 2.0% in the second quarter. Securian Asset Management Inc. now owns 5,071 shares of the basic materials company’s stock valued at $902,000 after buying an additional 100 shares in the last quarter. 83.65% of the stock is owned by institutional investors and hedge funds.

Royal Gold Company Profile

Royal Gold, Inc, headquartered in Denver, Colorado, is a leading precious metals streaming and royalty company. Through its business model, Royal Gold provides upfront financing to mining operators in exchange for the right to purchase a percentage of future metal production at predetermined prices. This structure allows the company to participate in production upside while minimizing exposure to the operating and capital-intensive aspects of mine ownership.

The company’s portfolio encompasses interests in over 200 streams and royalties on projects across North America, South America, Europe, Africa and Australia.