Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) was downgraded by analysts at Macquarie from an “outperform” rating to a “neutral” rating in a note issued to investors on Wednesday.
Other equities analysts have also issued research reports about the company. BidaskClub raised Royal Gold from a “hold” rating to a “buy” rating in a report on Saturday. Zacks Investment Research lowered Royal Gold from a “buy” rating to a “hold” rating in a report on Wednesday, July 5th. BMO Capital Markets reaffirmed a “buy” rating and set a $95.00 price objective on shares of Royal Gold in a report on Thursday, June 29th. Raymond James Financial, Inc. reaffirmed a “market perform” rating and set a $88.00 price objective on shares of Royal Gold in a report on Thursday, June 15th. Finally, Barclays PLC reaffirmed an “overweight” rating and set a $84.00 price objective (up previously from $83.00) on shares of Royal Gold in a report on Tuesday, June 6th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $89.41.
Royal Gold (NASDAQ RGLD) opened at 79.29 on Wednesday. The stock has a market capitalization of $5.18 billion, a P/E ratio of 50.66 and a beta of 0.66. The company’s 50-day moving average price is $78.18 and its 200 day moving average price is $70.77. Royal Gold has a 52 week low of $60.21 and a 52 week high of $87.74.
Royal Gold (NASDAQ:RGLD) (TSE:RGL) last posted its earnings results on Wednesday, May 10th. The basic materials company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.38 by $0.02. The business had revenue of $107 million during the quarter, compared to analysts’ expectations of $105.14 million. Royal Gold had a net margin of 23.93% and a return on equity of 4.22%. The business’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same period last year, the company earned $0.29 EPS. Equities research analysts expect that Royal Gold will post $1.64 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 21st. Investors of record on Friday, July 7th will be given a $0.24 dividend. The ex-dividend date is Wednesday, July 5th. This represents a $0.96 dividend on an annualized basis and a yield of 1.21%. Royal Gold’s payout ratio is currently 61.15%.
In related news, CFO Stefan Wenger sold 500 shares of the firm’s stock in a transaction dated Thursday, May 11th. The shares were sold at an average price of $75.00, for a total value of $37,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Tony A. Jensen sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $80.00, for a total transaction of $2,000,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,500 shares of company stock valued at $2,733,595. 1.37% of the stock is owned by insiders.
Several large investors have recently bought and sold shares of RGLD. Comerica Bank increased 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 worth $4,636,000 after buying an additional 1,936 shares during the last quarter. ICM Asset Management Inc. WA bought a new stake in Royal Gold during the fourth quarter worth about $1,829,000. Van ECK Associates Corp increased 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 worth $343,321,000 after buying an additional 667,497 shares during the last quarter. Teachers Advisors LLC increased 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 worth $8,870,000 after buying an additional 17,977 shares during the last quarter. Finally, LS Investment Advisors LLC increased its stake in Royal Gold by 26.4% in the first quarter. LS Investment Advisors LLC now owns 5,672 shares of the basic materials company’s stock worth $397,000 after buying an additional 1,185 shares during the last quarter. Institutional investors own 70.30% 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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