Royal Gold, Inc. (RGLD) Earns Buy Rating from Canaccord Genuity
Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL)‘s stock had its “buy” rating reaffirmed by research analysts at Canaccord Genuity in a research report issued on Thursday. They presently have a $105.00 target price on the basic materials company’s stock, up from their previous target price of $99.00. Canaccord Genuity’s price objective would suggest a potential upside of 21.05% from the company’s current price.
Several other brokerages have also recently issued reports on RGLD. Zacks Investment Research cut Royal Gold from a “hold” rating to a “sell” rating in a research note on Wednesday. Macquarie cut Royal Gold from an “outperform” rating to a “neutral” rating in a research note on Wednesday, July 12th. BidaskClub upgraded Royal Gold from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 25th. Raymond James Financial, Inc. reiterated a “market perform” rating and issued a $88.00 price target on shares of Royal Gold in a research note on Thursday, June 15th. Finally, Barclays PLC reiterated an “overweight” rating and issued a $84.00 price target (up from $83.00) on shares of Royal Gold in a research note on Tuesday, June 6th. One analyst has rated the stock with a sell rating, five have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $91.59.
Shares of Royal Gold (NASDAQ RGLD) traded up 2.12% during trading on Thursday, hitting $86.74. The stock had a trading volume of 951,893 shares. Royal Gold has a 12-month low of $60.21 and a 12-month high of $88.03. The stock’s 50-day moving average is $81.57 and its 200-day moving average is $74.20. The stock has a market capitalization of $5.67 billion, a P/E ratio of 55.42 and a beta of 0.68.
Royal Gold (NASDAQ:RGLD) (TSE:RGL) last issued its quarterly earnings results on Wednesday, August 9th. The basic materials company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by $0.02. The company 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 23.93% and a return on equity of 4.22%. The company’s quarterly revenue was up 15.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.32 earnings per share. Analysts predict that Royal Gold will post $1.96 EPS for the current fiscal year.
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In other Royal Gold news, CEO Tony A. Jensen sold 25,000 shares of the company’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $85.00, for a total transaction of $2,125,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Stefan Wenger sold 2,000 shares of the company’s stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $80.06, for a total value of $160,120.00. The disclosure for this sale can be found here. Insiders have sold 57,629 shares of company stock valued at $4,736,660 over the last 90 days. Corporate insiders own 1.37% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in RGLD. Comerica Bank boosted its stake in Royal Gold by 3.0% in the first quarter. Comerica Bank now owns 66,791 shares of the basic materials company’s stock valued at $4,636,000 after buying an additional 1,936 shares during the last quarter. Van ECK Associates Corp boosted its stake in Royal Gold by 15.8% in the first quarter. Van ECK Associates Corp now owns 4,901,086 shares of the basic materials company’s stock valued at $343,321,000 after buying an additional 667,497 shares during the last quarter. Teachers Advisors LLC boosted its stake in Royal Gold by 14.7% in the fourth quarter. Teachers Advisors LLC now owns 140,014 shares of the basic materials company’s stock valued at $8,870,000 after buying an additional 17,977 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in Royal Gold by 2.3% in the first quarter. PNC Financial Services Group Inc. now owns 9,312 shares of the basic materials company’s stock valued at $652,000 after buying an additional 209 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its stake in Royal Gold by 17.6% in the first quarter. Schwab Charles Investment Management Inc. now owns 207,805 shares of the basic materials company’s stock valued at $14,557,000 after buying an additional 31,130 shares during the last quarter. Hedge funds and other institutional investors own 70.57% of the company’s stock.
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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