Royal Gold Inc. (RGLD) Rating Reiterated by RBC Capital Markets
Royal Gold Inc. (NASDAQ:RGLD)‘s stock had its “outperform” rating reiterated by equities research analysts at RBC Capital Markets in a report released on Tuesday.
A number of other brokerages have also recently issued reports on RGLD. Macquarie assumed coverage on shares of Royal Gold in a research note on Wednesday, July 6th. They issued an “outperform” rating for the company. BMO Capital Markets raised shares of Royal Gold from a “market perform” rating to an “outperform” rating in a research report on Wednesday, July 6th. Zacks Investment Research raised shares of Royal Gold from a “hold” rating to a “buy” rating and set a $79.00 price target for the company in a research report on Thursday, June 30th. Dundee Securities raised shares of Royal Gold from a “neutral” rating to a “buy” rating and increased their price target for the company from $80.00 to $85.00 in a research report on Wednesday, July 6th. Finally, FBR & Co increased their price target on shares of Royal Gold from $57.00 to $71.00 and gave the company a “market perform” rating in a research report on Wednesday, July 6th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $72.29.
Shares of Royal Gold (NASDAQ:RGLD) traded down 0.125% during mid-day trading on Tuesday, reaching $76.914. 294,389 shares of the company’s stock were exchanged. The firm’s market cap is $5.02 billion. Royal Gold has a 52-week low of $24.68 and a 52-week high of $87.74. The company has a 50 day moving average price of $80.48 and a 200 day moving average price of $66.48.
Royal Gold (NASDAQ:RGLD) last announced its quarterly earnings data on Wednesday, August 10th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.33 by $0.01. Royal Gold had a negative net margin of 21.44% and a positive return on equity of 2.81%. The business earned $94.10 million during the quarter, compared to analysts’ expectations of $100.62 million. During the same period last year, the company posted $0.23 EPS. Royal Gold’s revenue for the quarter was up 27.9% on a year-over-year basis. Analysts forecast that Royal Gold will post $1.90 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be issued a $0.23 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $0.92 annualized dividend and a yield of 1.19%. Royal Gold’s dividend payout ratio (DPR) is presently -77.97%.
In related news, VP Bruce Christopher Kirchhoff sold 3,333 shares of the stock in a transaction dated Wednesday, June 22nd. The shares were sold at an average price of $66.19, for a total value of $220,611.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.14% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Riverhead Capital Management LLC raised its position in shares of Royal Gold by 101.6% in the second quarter. Riverhead Capital Management LLC now owns 25,355 shares of the company’s stock valued at $119,000 after buying an additional 12,777 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Royal Gold by 14.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,669 shares of the company’s stock valued at $120,000 after buying an additional 208 shares during the last quarter. Bellwether Investment Group LLC acquired a new position in shares of Royal Gold during the second quarter valued at about $139,000. Meeder Asset Management Inc. raised its position in shares of Royal Gold by 199,100.0% in the second quarter. Meeder Asset Management Inc. now owns 1,992 shares of the company’s stock valued at $144,000 after buying an additional 1,991 shares during the last quarter. Finally, Cantab Capital Partners LLP acquired a new position in shares of Royal Gold during the second quarter valued at about $144,000. Institutional investors own 69.01% of the company’s stock.
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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