Royal Gold, Inc (NASDAQ:RGLD) (TSE:RGL) – Stock analysts at B. Riley upped their Q3 2020 earnings per share (EPS) estimates for Royal Gold in a research note issued to investors on Tuesday, November 12th. B. Riley analyst A. Graf now anticipates that the basic materials company will post earnings per share of $0.77 for the quarter, up from their previous estimate of $0.71. B. Riley currently has a “Neutral” rating and a $122.00 target price on the stock. B. Riley also issued estimates for Royal Gold’s FY2020 earnings at $2.66 EPS.
Other equities analysts have also recently issued research reports about the company. Raymond James set a $122.00 target price on Royal Gold and gave the company a “market perform” rating in a report on Friday, November 8th. Cantor Fitzgerald raised Royal Gold from a “hold” rating to a “buy” rating in a report on Thursday, November 7th. CIBC cut Royal Gold from a “sector outperform” rating to a “neutral” rating in a report on Thursday, August 1st. Royal Bank of Canada reissued a “hold” rating on shares of Royal Gold in a report on Sunday, August 11th. Finally, BidaskClub cut Royal Gold from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $111.31.
Royal Gold (NASDAQ:RGLD) (TSE:RGL) last announced its earnings results on Wednesday, November 6th. The basic materials company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. Royal Gold had a return on equity of 5.51% and a net margin of 33.78%. The business had revenue of $118.77 million during the quarter, compared to analysts’ expectations of $129.47 million. During the same quarter in the prior year, the firm earned $0.23 earnings per share. The business’s revenue was up 18.8% compared to the same quarter last year.
In related news, CEO Tony A. Jensen sold 14,984 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $134.08, for a total value of $2,009,054.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Bruce Christopher Kirchhoff sold 1,417 shares of the stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $127.16, for a total value of $180,185.72. Following the completion of the sale, the vice president now directly owns 48,826 shares of the company’s stock, valued at approximately $6,208,714.16. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,491 shares of company stock valued at $2,737,758. Insiders own 0.52% of the company’s stock.
Large investors have recently bought and sold shares of the stock. First Hawaiian Bank grew its position in Royal Gold by 23.3% in the second quarter. First Hawaiian Bank now owns 3,266 shares of the basic materials company’s stock worth $335,000 after acquiring an additional 617 shares during the period. Allianz Asset Management GmbH grew its position in Royal Gold by 2.5% in the second quarter. Allianz Asset Management GmbH now owns 3,302 shares of the basic materials company’s stock worth $338,000 after acquiring an additional 80 shares during the period. Retirement Systems of Alabama grew its position in Royal Gold by 99.9% in the third quarter. Retirement Systems of Alabama now owns 170,322 shares of the basic materials company’s stock worth $20,985,000 after acquiring an additional 85,099 shares during the period. Advisory Services Network LLC grew its position in Royal Gold by 2.2% in the second quarter. Advisory Services Network LLC now owns 25,806 shares of the basic materials company’s stock worth $2,645,000 after acquiring an additional 563 shares during the period. Finally, Russell Investments Group Ltd. grew its position in Royal Gold by 71.6% in the third quarter. Russell Investments Group Ltd. now owns 151,695 shares of the basic materials company’s stock worth $18,876,000 after acquiring an additional 63,292 shares during the period. 78.20% of the stock is owned by hedge funds and other institutional investors.
About Royal Gold
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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