Royal Gold (RGLD) Upgraded by UBS Group to Outperform
Royal Gold (NASDAQ:RGLD) (TSE:RGL) was upgraded by equities research analysts at UBS Group from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Wednesday, The Fly reports.
A number of other brokerages have also issued reports on RGLD. BidaskClub raised Royal Gold from a “sell” rating to a “hold” rating in a research note on Friday, February 2nd. Bank of America lowered their price target on Royal Gold from $109.00 to $99.00 and set a “hold” rating on the stock in a research note on Thursday, December 28th. Canaccord Genuity lowered Royal Gold from a “buy” rating to a “hold” rating and lowered their price target for the stock from $109.00 to $99.00 in a research note on Thursday, December 28th. BMO Capital Markets set a $105.00 price target on Royal Gold and gave the stock a “buy” rating in a research note on Tuesday, November 14th. Finally, Scotiabank set a $90.00 price target on Royal Gold and gave the stock a “hold” rating in a research note on Monday, January 15th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $95.54.
Shares of Royal Gold (NASDAQ RGLD) traded up $0.24 during trading hours on Wednesday, hitting $83.69. The stock had a trading volume of 357,260 shares, compared to its average volume of 610,570. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.98 and a quick ratio of 3.80. The firm has a market capitalization of $5,480.00, a price-to-earnings ratio of 65.38, a PEG ratio of 4.91 and a beta of 0.70. Royal Gold has a 12-month low of $61.58 and a 12-month high of $94.39.
In related news, CFO Stefan Wenger sold 1,500 shares of Royal Gold stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $88.50, for a total transaction of $132,750.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.12% of the company’s stock.
A number of institutional investors have recently made changes to their positions in RGLD. Amundi Pioneer Asset Management Inc. purchased a new position in Royal Gold during the fourth quarter worth approximately $18,763,000. KBC Group NV lifted its position in Royal Gold by 5,094.1% during the third quarter. KBC Group NV now owns 94,480 shares of the basic materials company’s stock worth $8,129,000 after buying an additional 92,661 shares in the last quarter. APG Asset Management N.V. purchased a new position in Royal Gold during the fourth quarter worth approximately $3,283,000. Mackenzie Financial Corp raised its position in Royal Gold by 245.5% in the third quarter. Mackenzie Financial Corp now owns 67,378 shares of the basic materials company’s stock valued at $5,797,000 after purchasing an additional 47,878 shares during the period. Finally, TD Asset Management Inc. purchased a new stake in Royal Gold in the third quarter valued at $3,878,000. Hedge funds and other institutional investors own 77.66% 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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