FBR & Co Analysts Give Royal Gold Inc. (RGLD) a $80.00 Price Target
Other research analysts have also recently issued research reports about the stock. Raymond James Financial Inc. raised shares of 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. Barclays PLC boosted their price target on shares of Royal Gold from $62.00 to $99.00 and gave the stock an overweight rating in a research note on Monday, August 8th. HSBC reiterated a buy rating on shares of Royal Gold in a research note on Thursday, July 7th. Zacks Investment Research lowered shares of Royal Gold from a buy rating to a hold rating in a research note on Wednesday, July 6th. Finally, Macquarie began coverage on shares of Royal Gold in a research note on Wednesday, July 6th. They set an outperform rating on the stock. One investment 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. The stock presently has a consensus rating of Buy and an average 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. The company has a 50-day moving average of $80.20 and a 200-day moving average of $66.95. Royal Gold has a 1-year low of $24.68 and a 1-year high of $87.74.
Royal Gold (NASDAQ:RGLD) last posted its earnings results on Wednesday, August 10th. The company reported $0.32 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 company 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 EPS. The company’s quarterly revenue was up 27.9% compared to the same quarter last year. Equities research analysts predict that Royal Gold will post $1.88 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.09%. Royal Gold’s dividend payout ratio (DPR) is presently -77.97%.
Several institutional investors have recently made changes to their positions in RGLD. PNC Financial Services Group Inc. raised its position in shares of Royal Gold by 1.0% in the second quarter. PNC Financial Services Group Inc. now owns 2,184 shares of the company’s stock worth $157,000 after buying an additional 22 shares during the period. IBM Retirement Fund increased its stake in shares of Royal Gold by 1.5% in the second quarter. IBM Retirement Fund now owns 6,568 shares of the company’s stock valued at $473,000 after buying an additional 96 shares in the last quarter. Sprott Inc. increased its stake in shares of Royal Gold by 0.4% in the second quarter. Sprott Inc. now owns 28,438 shares of the company’s stock valued at $2,048,000 after buying an additional 116 shares in the last quarter. State Treasurer State of Michigan increased its stake in shares of Royal Gold by 0.8% in the second quarter. State Treasurer State of Michigan now owns 26,200 shares of the company’s stock valued at $1,887,000 after buying an additional 200 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake 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 in the last quarter. Institutional investors and hedge funds 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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