Zacks Investment Research cut shares of Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) from a hold rating to a sell rating in a report issued on Wednesday, August 9th.
According to Zacks, “Royal Gold, Inc. is engaged in the acquisition and management of precious metals royalties. They seek to acquire existing royalties or to finance projects that are in production or near production in exchange for royalty interests. They also explore and develop properties thought to contain precious metals and seek to obtain royalty and other carried ownership interests in these properties through the subsequent transfer of operating interests to other mining companies. “
Several other analysts also recently issued reports on the company. Barclays PLC restated an overweight rating and issued a $83.00 price target (up from $82.00) on shares of Royal Gold in a research note on Saturday, April 22nd. National Bank Financial downgraded Royal Gold from an outperform rating to a sector perform rating and boosted their price target for the company from $80.00 to $82.50 in a research note on Thursday, April 20th. BidaskClub upgraded Royal Gold from a hold rating to a buy rating in a research note on Saturday, July 8th. BMO Capital Markets reaffirmed a buy rating and issued a $95.00 price objective on shares of Royal Gold in a report on Thursday, June 29th. Finally, Royal Bank Of Canada reaffirmed a buy rating and issued a $83.00 price objective on shares of Royal Gold in a report on Monday, June 5th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Royal Gold presently has an average rating of Buy and a consensus target price of $91.95.
Shares of Royal Gold (NASDAQ RGLD) traded down 0.87% during midday trading on Wednesday, hitting $86.25. The company had a trading volume of 532,393 shares. The firm has a market capitalization of $5.64 billion, a P/E ratio of 55.65 and a beta of 0.68. Royal Gold has a 12-month low of $60.21 and a 12-month high of $88.03. The firm’s 50-day moving average is $83.39 and its 200-day moving average is $74.98.
Royal Gold (NASDAQ:RGLD) (TSE:RGL) last released its quarterly earnings results on Wednesday, August 9th. The basic materials company reported $0.31 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by $0.02. The firm had revenue of $108.90 million during the quarter, compared to the consensus estimate of $108.72 million. Royal Gold had a net margin of 23.03% and a return on equity of 4.19%. The business’s revenue for the quarter was up 15.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.32 earnings per share. On average, analysts predict that Royal Gold will post $1.81 earnings per share for the current fiscal year.
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The firm also recently declared a quarterly dividend, which was paid on Friday, July 21st. Stockholders of record on Friday, July 7th were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Wednesday, July 5th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.11%. Royal Gold’s dividend payout ratio (DPR) is currently 61.54%.
In other news, VP Bruce Christopher Kirchhoff sold 28,805 shares of the business’s stock in a transaction on Friday, August 18th. The stock was sold at an average price of $86.28, for a total transaction of $2,485,295.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Stefan Wenger sold 2,086 shares of the business’s stock in a transaction on Friday, August 18th. The stock was sold at an average price of $87.49, for a total value of $182,504.14. The disclosure for this sale can be found here. Insiders have sold a total of 71,870 shares of company stock valued at $6,141,357 in the last three months. 1.37% of the stock is owned by insiders.
Several institutional investors have recently bought and sold shares of RGLD. QS Investors LLC boosted its position in Royal Gold by 0.4% in the second quarter. QS Investors LLC now owns 3,561 shares of the basic materials company’s stock worth $278,000 after buying an additional 13 shares during the period. IFP Advisors Inc boosted its position in Royal Gold by 1.7% in the second quarter. IFP Advisors Inc now owns 2,343 shares of the basic materials company’s stock worth $183,000 after buying an additional 39 shares during the period. Meadow Creek Investment Management LLC boosted its position in Royal Gold by 6.2% in the first quarter. Meadow Creek Investment Management LLC now owns 1,648 shares of the basic materials company’s stock worth $115,000 after buying an additional 96 shares during the period. Teacher Retirement System of Texas boosted its position in Royal Gold by 2.0% in the second quarter. Teacher Retirement System of Texas now owns 5,216 shares of the basic materials company’s stock worth $408,000 after buying an additional 100 shares during the period. Finally, Utah Retirement Systems boosted its position in Royal Gold by 0.8% in the second quarter. Utah Retirement Systems now owns 11,946 shares of the basic materials company’s stock worth $934,000 after buying an additional 100 shares during the period. 70.89% of the stock is owned by institutional investors.
Royal Gold Company Profile
Royal Gold, Inc, together with its subsidiaries, is engaged in acquiring and managing precious metal streams, royalties and similar interests. The Company operates through two segments: Acquisition and Management of Stream Interests, and Acquisition and Management of Royalty Interests. Its assets are located in Canada, Chile, Dominican Republic, Mexico, the United States, Africa, Australia and Other.
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