Desjardins Lowers Royal Gold (RGLD) to Hold

Desjardins lowered shares of Royal Gold (NASDAQ:RGLD) (TSE:RGL) from a buy rating to a hold rating in a research note issued to investors on Friday, Benzinga’s Daily Ratings Newsletter reports.

Other research analysts also recently issued reports about the stock. B. Riley raised shares of Royal Gold from a neutral rating to a buy rating and lifted their target price for the stock from $86.00 to $100.00 in a research note on Monday, April 1st. BidaskClub downgraded shares of Royal Gold from a buy rating to a hold rating in a research note on Saturday, March 30th. BMO Capital Markets downgraded shares of Royal Gold from an outperform rating to a market perform rating in a research note on Wednesday, March 27th. Zacks Investment Research raised shares of Royal Gold from a hold rating to a strong-buy rating and set a $96.00 target price on the stock in a research note on Tuesday, January 15th. Finally, TD Securities lifted their price target on shares of Royal Gold from $94.00 to $98.00 and gave the company a hold rating in a report on Tuesday, February 26th. Seven research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of Buy and an average price target of $94.61.

Shares of NASDAQ RGLD opened at $92.79 on Friday. The company has a current ratio of 5.48, a quick ratio of 5.27 and a debt-to-equity ratio of 0.17. Royal Gold has a 52 week low of $70.16 and a 52 week high of $98.53. The firm has a market capitalization of $5.99 billion, a P/E ratio of 52.57, a PEG ratio of 6.01 and a beta of 0.14.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last issued its earnings results on Wednesday, February 6th. The basic materials company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.35 by $0.01. Royal Gold had a negative net margin of 20.57% and a positive return on equity of 4.56%. The company had revenue of $97.60 million for the quarter, compared to the consensus estimate of $100.80 million. During the same period in the previous year, the firm earned $0.41 earnings per share. The firm’s revenue for the quarter was down 14.6% on a year-over-year basis. On average, analysts anticipate that Royal Gold will post 1.54 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, April 19th. Investors of record on Friday, April 5th will be issued a $0.265 dividend. This represents a $1.06 annualized dividend and a yield of 1.14%. The ex-dividend date is Thursday, April 4th. Royal Gold’s dividend payout ratio (DPR) is currently 60.23%.

Large investors have recently added to or reduced their stakes in the stock. Oregon Public Employees Retirement Fund boosted its holdings in Royal Gold by 8,465.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,209,941 shares of the basic materials company’s stock valued at $26,000 after acquiring an additional 2,184,139 shares in the last quarter. Cordasco Financial Network boosted its holdings in Royal Gold by 72.4% in the first quarter. Cordasco Financial Network now owns 293 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 123 shares in the last quarter. JOYN Advisors Inc. boosted its holdings in Royal Gold by 105.4% in the fourth quarter. JOYN Advisors Inc. now owns 341 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 175 shares in the last quarter. St. Johns Investment Management Company LLC bought a new stake in Royal Gold in the fourth quarter valued at $51,000. Finally, Essex Investment Management Co. LLC bought a new stake in shares of Royal Gold during the 4th quarter valued at $94,000. Institutional investors and hedge funds own 78.55% 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. It focuses on acquiring stream and royalty interests or to finance projects that are in production or in development stage in exchange for stream or royalty interests, which primarily consists of gold, silver, copper, nickel, zinc, lead, cobalt, and molybdenum.

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Analyst Recommendations for Royal Gold (NASDAQ:RGLD)

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