FBR & Co Analysts Give Royal Gold Inc. (RGLD) a $80.00 Price Target
RGLD has been the topic of a number of other reports. Zacks Investment Research lowered Royal Gold from a buy rating to a hold rating in a research report on Wednesday, September 7th. HSBC reaffirmed a buy rating on shares of Royal Gold in a research report on Thursday, July 7th. RBC Capital Markets reaffirmed an outperform rating on shares of Royal Gold in a research report on Tuesday. Raymond James Financial Inc. raised Royal Gold from a market perform rating to an outperform rating and upped their target price for the company from $72.00 to $85.00 in a research report on Wednesday, July 6th. Finally, Royal Bank Of Canada reaffirmed an outperform rating and issued a $84.00 target price on shares of Royal Gold in a research report on Monday, June 13th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $72.29.
Shares of Royal Gold (NASDAQ:RGLD) opened at 84.09 on Tuesday. The firm’s market capitalization is $5.49 billion. Royal Gold has a one year low of $24.68 and a one year high of $87.74. The company’s 50 day moving average price is $80.20 and its 200 day moving average price is $66.95.
Royal Gold (NASDAQ:RGLD) last announced its earnings results 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 analyst estimates of $100.62 million. During the same period in the previous year, the company earned $0.23 earnings per share. The business’s revenue for the quarter was up 27.9% on a year-over-year basis. On average, analysts expect that Royal Gold will post $1.88 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be paid a $0.23 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $0.92 annualized dividend and a dividend yield of 1.09%. Royal Gold’s payout ratio is -77.97%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Riverhead Capital Management LLC boosted its position in 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 boosted its position in 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 Royal Gold during the second quarter valued at about $139,000. Meeder Asset Management Inc. boosted its position in 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 Royal Gold during the second quarter valued at about $144,000. 69.01% of the stock is owned by institutional investors.
About Royal Gold
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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