Royal Gold Inc. (RGLD) Downgraded by Zacks Investment Research to “Strong Sell”
According to Zacks, “Royal Gold, Inc. is engaged in the acquisition and management of precious metals royalties. They seek to acquire existing royalties or to finance projects that are in production or near production in exchange for royalty interests. They also explore and develop properties thought to contain precious metals and seek to obtain royalty and other carried ownership interests in these properties through the subsequent transfer of operating interests to other mining companies. “
RGLD has been the subject of a number of other research reports. FBR & Co set a $80.00 price objective on shares of Royal Gold and gave the stock a hold rating in a report on Tuesday, September 20th. RBC Capital Markets restated an outperform rating on shares of Royal Gold in a report on Tuesday, September 20th. BMO Capital Markets upgraded shares of Royal Gold from a market perform rating to an outperform rating in a research report on Wednesday, July 6th. National Bank Financial upgraded shares of Royal Gold from a sector perform rating to an outperform rating and increased their target price for the stock from $72.00 to $85.00 in a research report on Wednesday, July 6th. Finally, Dundee Securities upgraded shares of Royal Gold from a neutral rating to a buy rating and increased their target price for the stock from $80.00 to $85.00 in a research report on Wednesday, July 6th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of $72.29.
Royal Gold (NASDAQ:RGLD) opened at 66.27 on Wednesday. The stock has a 50 day moving average of $75.73 and a 200 day moving average of $69.24. Royal Gold has a 12 month low of $24.68 and a 12 month high of $87.74. The firm’s market capitalization is $4.33 billion.
Royal Gold (NASDAQ:RGLD) last posted its quarterly earnings data on Wednesday, August 10th. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by $0.01. Royal Gold had a positive return on equity of 2.81% and a negative net margin of 21.44%. The company had revenue of $94.10 million for the quarter, compared to analysts’ expectations of $100.62 million. During the same quarter last year, the business posted $0.23 EPS. The business’s quarterly revenue was up 27.9% on a year-over-year basis. On average, equities analysts predict that Royal Gold will post $1.86 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date of this dividend is Wednesday, September 28th. Royal Gold’s dividend payout ratio (DPR) is -77.97%.
Institutional investors have recently modified their holdings of the company. Capstone Asset Management Co. raised its position in shares of Royal Gold by 5.3% in the second quarter. Capstone Asset Management Co. now owns 6,996 shares of the company’s stock worth $504,000 after buying an additional 350 shares during the period. BNP Paribas Arbitrage SA raised its stake in Royal Gold by 3,648.9% in the second quarter. BNP Paribas Arbitrage SA now owns 26,692 shares of the company’s stock valued at $1,922,000 after buying an additional 25,980 shares during the last quarter. LPL Financial LLC raised its stake in Royal Gold by 2.2% in the first quarter. LPL Financial LLC now owns 55,221 shares of the company’s stock valued at $2,847,000 after buying an additional 1,179 shares during the last quarter. Sun Valley Gold LLC raised its stake in Royal Gold by 154.3% in the first quarter. Sun Valley Gold LLC now owns 535,689 shares of the company’s stock valued at $27,475,000 after buying an additional 325,000 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY raised its stake in Royal Gold by 2.9% in the first quarter. Metropolitan Life Insurance Co. NY now owns 59,289 shares of the company’s stock valued at $3,041,000 after buying an additional 1,648 shares during the last quarter. 68.95% of the stock is owned by institutional investors and hedge funds.
Royal Gold Company Profile
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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