Royal Gold (NASDAQ:RGLD) PT Lowered to $160.00

Royal Gold (NASDAQ:RGLD) (TSE:RGL) had its target price reduced by research analysts at BMO Capital Markets from $162.00 to $160.00 in a report issued on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the basic materials company’s stock. BMO Capital Markets’ target price points to a potential upside of 29.59% from the company’s previous close.

A number of other research firms have also recently weighed in on RGLD. Jefferies Financial Group initiated coverage on shares of Royal Gold in a research report on Thursday, February 29th. They set a “hold” rating and a $117.00 price objective for the company. National Bank Financial upgraded shares of Royal Gold from a “sector perform” rating to an “outperform” rating in a research report on Thursday, February 15th. Finally, Cantor Fitzgerald cut shares of Royal Gold from an “overweight” rating to a “neutral” rating in a research report on Thursday, February 15th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $141.14.

Royal Gold Stock Performance

NASDAQ RGLD traded up $0.06 during mid-day trading on Thursday, reaching $123.47. 167,393 shares of the stock were exchanged, compared to its average volume of 425,058. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.18 and a current ratio of 2.31. The business’s 50 day moving average is $117.80 and its 200-day moving average is $115.69. The company has a market capitalization of $8.12 billion, a P/E ratio of 34.14, a P/E/G ratio of 6.99 and a beta of 0.88. Royal Gold has a 1 year low of $100.55 and a 1 year high of $141.62.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last posted its quarterly earnings data on Wednesday, May 8th. The basic materials company reported $0.91 earnings per share for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.04). The company had revenue of $148.90 million for the quarter, compared to analyst estimates of $147.02 million. Royal Gold had a return on equity of 8.18% and a net margin of 39.53%. The business’s revenue was down 12.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.96 earnings per share. On average, equities research analysts forecast that Royal Gold will post 4.36 EPS for the current fiscal year.

Insider Buying and Selling at Royal Gold

In related news, SVP Randy Shefman sold 500 shares of Royal Gold stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $113.00, for a total value of $56,500.00. Following the completion of the sale, the senior vice president now owns 12,127 shares in the company, valued at approximately $1,370,351. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.52% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Royal Gold

Several hedge funds have recently bought and sold shares of RGLD. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Royal Gold by 18.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,150 shares of the basic materials company’s stock worth $1,505,000 after acquiring an additional 2,242 shares in the last quarter. Advisor Partners II LLC lifted its stake in Royal Gold by 19.7% during the 3rd quarter. Advisor Partners II LLC now owns 3,331 shares of the basic materials company’s stock worth $354,000 after acquiring an additional 549 shares in the last quarter. Inspire Investing LLC lifted its stake in Royal Gold by 5.4% during the 3rd quarter. Inspire Investing LLC now owns 2,895 shares of the basic materials company’s stock worth $308,000 after acquiring an additional 148 shares in the last quarter. TD Asset Management Inc lifted its stake in Royal Gold by 8.9% during the 3rd quarter. TD Asset Management Inc now owns 44,218 shares of the basic materials company’s stock worth $4,702,000 after acquiring an additional 3,600 shares in the last quarter. Finally, ING Groep NV acquired a new position in Royal Gold during the 3rd quarter worth about $1,956,000. Institutional investors and hedge funds own 83.65% of the company’s stock.

Royal Gold Company Profile

Royal Gold, Inc, together with its subsidiaries, acquires and manages precious metal streams, royalties, and related interests. The company engages in acquiring stream and royalty interests or to finance projects that are in production, development, or in the exploration stage in exchange for stream or royalty interests, which primarily consists of gold, silver, copper, nickel, zinc, lead, and other metals.