Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) received a $105.00 target price from analysts at BMO Capital Markets in a research note issued on Tuesday. The brokerage currently has a “buy” rating on the basic materials company’s stock. BMO Capital Markets’ price target suggests a potential upside of 22.15% from the company’s current price.
A number of other analysts also recently weighed in on RGLD. B. Riley restated a “neutral” rating on shares of Royal Gold in a report on Wednesday, November 1st. National Bank Financial increased their price target on Royal Gold from $82.50 to $92.50 and gave the stock a “sector perform” rating in a report on Thursday, August 10th. Canaccord Genuity reiterated a “buy” rating and set a $105.00 price target (up from $99.00) on shares of Royal Gold in a report on Thursday, August 10th. Zacks Investment Research upgraded Royal Gold from a “sell” rating to a “hold” rating in a report on Wednesday, November 8th. Finally, TheStreet upgraded Royal Gold from a “c+” rating to a “b-” rating in a report on Wednesday, November 8th. Seven research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $95.61.
Shares of Royal Gold (RGLD) opened at $85.96 on Tuesday. The firm has a market capitalization of $5,654.60, a price-to-earnings ratio of 58.77, a P/E/G ratio of 4.91 and a beta of 0.49. Royal Gold has a 1-year low of $60.21 and a 1-year high of $94.39. The company has a quick ratio of 3.73, a current ratio of 3.92 and a debt-to-equity ratio of 0.23.
Royal Gold (NASDAQ:RGLD) (TSE:RGL) last posted its quarterly earnings data on Wednesday, November 1st. The basic materials company reported $0.44 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.07. The business had revenue of $112.50 million during the quarter, compared to the consensus estimate of $112.43 million. Royal Gold had a return on equity of 4.12% and a net margin of 23.06%. Royal Gold’s quarterly revenue was down 4.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.46 earnings per share. equities analysts anticipate that Royal Gold will post 1.76 EPS for the current fiscal year.
In related news, VP Bruce Christopher Kirchhoff sold 28,805 shares of the firm’s stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $86.28, for a total value of $2,485,295.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Tony A. Jensen sold 25,000 shares of the firm’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $90.00, for a total transaction of $2,250,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 67,343 shares of company stock worth $5,942,784 in the last three months. Insiders own 1.12% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in RGLD. Wellington Management Group LLP lifted its position in Royal Gold by 204.2% in the 1st quarter. Wellington Management Group LLP now owns 12,958 shares of the basic materials company’s stock valued at $908,000 after acquiring an additional 8,699 shares in the last quarter. Teachers Advisors LLC lifted its position in shares of Royal Gold by 2.4% during the 1st quarter. Teachers Advisors LLC now owns 143,373 shares of the basic materials company’s stock worth $10,043,000 after buying an additional 3,359 shares in the last quarter. Capstone Asset Management Co. lifted its position in shares of Royal Gold by 1.9% during the 2nd quarter. Capstone Asset Management Co. now owns 10,286 shares of the basic materials company’s stock worth $804,000 after buying an additional 190 shares in the last quarter. Bank of Montreal Can lifted its position in shares of Royal Gold by 702.0% during the 2nd quarter. Bank of Montreal Can now owns 201,972 shares of the basic materials company’s stock worth $15,788,000 after buying an additional 176,787 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its position in shares of Royal Gold by 4.4% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 23,997 shares of the basic materials company’s stock worth $1,876,000 after buying an additional 1,022 shares in the last quarter. 70.25% of the stock is currently owned by institutional investors and hedge funds.
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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