Gabelli Brokers Reduce Earnings Estimates for Royal Gold Inc. (RGLD)
Royal Gold Inc. (NASDAQ:RGLD) – Research analysts at Gabelli decreased their FY2018 earnings estimates for Royal Gold in a note issued to investors on Tuesday. Gabelli analyst C. Mancini now forecasts that the brokerage will post earnings of $2.38 per share for the year, down from their prior estimate of $3.15.
Several other brokerages have also recently issued reports on RGLD. RBC Capital Markets reiterated an “outperform” rating on shares of Royal Gold in a research note on Tuesday, November 1st. FBR & Co set a $80.00 price objective on Royal Gold and gave the company a “hold” rating in a research note on Tuesday, September 20th. Zacks Investment Research cut Royal Gold from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 12th. Barclays PLC lifted their price objective on Royal Gold from $62.00 to $99.00 and gave the company an “overweight” rating in a research note on Monday, August 8th. Finally, CIBC upgraded Royal Gold from a “sector perform” rating to a “sector outperform” rating and set a $90.00 price objective for the company in a research note on Friday, November 4th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $75.62.
Shares of Royal Gold (NASDAQ:RGLD) traded down 9.21% during mid-day trading on Friday, hitting $65.48. 1,382,121 shares of the stock were exchanged. The stock’s market cap is $4.28 billion. Royal Gold has a 12 month low of $24.68 and a 12 month high of $87.74. The stock’s 50 day moving average is $70.96 and its 200-day moving average is $71.66.
Royal Gold (NASDAQ:RGLD) last announced its quarterly earnings results on Thursday, November 3rd. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.04. The firm had revenue of $117.90 million for the quarter, compared to the consensus estimate of $2.40 million. Royal Gold had a negative net margin of 0.57% and a positive return on equity of 3.65%. The business’s quarterly revenue was up 59.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.17 EPS.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in RGLD. Riverhead Capital Management LLC raised its position in Royal Gold by 101.6% in the second quarter. Riverhead Capital Management LLC now owns 25,355 shares of the company’s stock worth $119,000 after buying an additional 12,777 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Royal Gold by 14.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,669 shares of the company’s stock worth $120,000 after buying an additional 208 shares during the last quarter. Bellwether Investment Group LLC bought a new position in Royal Gold during the second quarter worth about $139,000. Sei Investments Co. raised its position in Royal Gold by 34.4% in the third quarter. Sei Investments Co. now owns 1,829 shares of the company’s stock worth $142,000 after buying an additional 468 shares during the last quarter. Finally, Meeder Asset Management Inc. raised its position in Royal Gold by 199,100.0% in the second quarter. Meeder Asset Management Inc. now owns 1,992 shares of the company’s stock worth $144,000 after buying an additional 1,991 shares during the last quarter. 68.90% of the stock is currently owned by institutional investors and hedge funds.
The business also recently announced a quarterly dividend, which was paid on Friday, October 14th. Stockholders of record on Friday, September 30th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date of this dividend was Wednesday, September 28th. Royal Gold’s payout ratio is currently -3,066.67%.
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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