Royal Gold Inc. (RGLD) Rating Reiterated by Goldman Sachs Group Inc.
Royal Gold Inc. (NASDAQ:RGLD)‘s stock had its “neutral” rating restated by stock analysts at Goldman Sachs Group Inc. in a research report issued to clients and investors on Friday. They currently have a $86.00 price objective on the stock. Goldman Sachs Group Inc.’s target price suggests a potential upside of 29.56% from the company’s current price.
A number of other analysts have also recently weighed in on RGLD. CIBC upgraded shares of Royal Gold from a “sector perform” rating to a “sector outperform” rating and set a $90.00 price target for the company in a research note on Friday, November 4th. RBC Capital Markets restated an “outperform” rating on shares of Royal Gold in a research note on Tuesday, November 1st. Zacks Investment Research upgraded shares of Royal Gold from a “hold” rating to a “buy” rating and set a $85.00 target price for the company in a research note on Tuesday, November 8th. FBR & Co restated a “hold” rating on shares of Royal Gold in a research note on Monday, November 7th. Finally, Barclays PLC raised their target price on shares of Royal Gold from $62.00 to $99.00 and gave the stock an “overweight” rating in a research note on Monday, August 8th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $75.62.
Shares of Royal Gold (NASDAQ:RGLD) opened at 66.38 on Friday. The stock’s market cap is $4.34 billion. The company’s 50-day moving average is $70.54 and its 200 day moving average is $71.90. Royal Gold has a 52 week low of $24.68 and a 52 week high of $87.74.
Royal Gold (NASDAQ:RGLD) last issued its quarterly earnings results on Thursday, November 3rd. The company reported $0.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.04. The firm earned $117.90 million during the quarter, compared to analysts’ expectations of $2.40 million. Royal Gold had a negative net margin of 0.57% and a positive return on equity of 3.65%. Royal Gold’s quarterly revenue was up 59.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.17 EPS. Analysts forecast that Royal Gold will post $1.82 earnings per share for the current fiscal year.
Institutional investors have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank increased 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 valued at $120,000 after buying an additional 208 shares during the period. Sei Investments Co. increased its stake in shares of 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 period. Bellwether Investment Group LLC purchased a new stake in shares of Royal Gold during the second quarter worth approximately $139,000. DekaBank Deutsche Girozentrale increased its stake in shares of Royal Gold by 926.5% in the third quarter. DekaBank Deutsche Girozentrale now owns 1,940 shares of the company’s stock worth $153,000 after buying an additional 1,751 shares during the period. Finally, Meeder Asset Management Inc. increased its stake in shares of 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 period. Hedge funds and other institutional investors own 67.54% of the company’s stock.
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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