Royal Gold Inc. (RGLD) Stock Rating Lowered by Zacks Investment Research
Royal Gold Inc. (NASDAQ:RGLD) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Friday.
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. “
Other equities research analysts also recently issued reports about the stock. Barclays PLC upped 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. FBR & Co upped their target price on shares of Royal Gold from $71.00 to $78.00 and gave the stock a “mkt perform” rating in a research note on Wednesday, July 20th. RBC Capital Markets reaffirmed an “outperform” rating on shares of Royal Gold in a research note on Tuesday, September 20th. Finally, CIBC raised shares of Royal Gold from a “sector perform” rating to a “sector outperform” rating and set a $90.00 target price on the stock in a research note on Friday, November 4th. One equities 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 an average rating of “Buy” and a consensus target price of $75.62.
Royal Gold (NASDAQ:RGLD) opened at 66.38 on Friday. Royal Gold has a 12-month low of $24.68 and a 12-month high of $87.74. The firm has a 50 day moving average of $70.54 and a 200-day moving average of $71.90. The stock’s market cap is $4.34 billion.
Royal Gold (NASDAQ:RGLD) last released 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 business 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 revenue was up 59.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.17 EPS. On average, analysts expect that Royal Gold will post $1.82 earnings per share for the current year.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. State Street Corp increased its stake in Royal Gold by 6.7% in the first quarter. State Street Corp now owns 2,118,783 shares of the company’s stock valued at $108,671,000 after buying an additional 133,359 shares during the period. Geode Capital Management LLC increased its stake in Royal Gold by 2.6% in the first quarter. Geode Capital Management LLC now owns 426,746 shares of the company’s stock valued at $21,887,000 after buying an additional 10,714 shares during the period. A.R.T. Advisors LLC acquired a new stake in Royal Gold during the first quarter valued at approximately $2,119,000. Metropolitan Life Insurance Co. NY increased 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 period. Finally, Sun Valley Gold LLC increased 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 period. Institutional investors and hedge funds own 67.54% of the company’s stock.
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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