BMO Capital Markets Reaffirms Buy Rating for Royal Gold, Inc. (RGLD)
BMO Capital Markets reissued their buy rating on shares of Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) in a research note issued to investors on Wednesday morning. They currently have a $95.00 price objective on the basic materials company’s stock.
Several other research analysts also recently weighed in on RGLD. Scotiabank increased their price target on shares of Royal Gold from $81.00 to $115.00 and gave the stock a sector perform rating in a research report on Friday, May 12th. FBR & Co increased their price target on shares of Royal Gold from $80.00 to $81.00 and gave the stock an outperform rating in a research report on Monday, May 15th. Zacks Investment Research upgraded shares of Royal Gold from a sell rating to a hold rating in a research report on Wednesday, May 17th. Royal Bank Of Canada reiterated a buy rating and issued a $83.00 price target on shares of Royal Gold in a research report on Monday, June 5th. Finally, Barclays PLC reiterated an overweight rating and issued a $84.00 price target (up from $83.00) on shares of Royal Gold in a research report on Tuesday, June 6th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Royal Gold has an average rating of Buy and an average target price of $91.95.
Shares of Royal Gold (NASDAQ RGLD) opened at 92.85 on Wednesday. The firm’s 50-day moving average is $87.91 and its 200-day moving average is $76.96. Royal Gold has a one year low of $60.21 and a one year high of $94.39. The company has a market cap of $6.07 billion, a PE ratio of 59.90 and a beta of 0.63.
Royal Gold (NASDAQ:RGLD) (TSE:RGL) last released its quarterly earnings results on Wednesday, August 9th. The basic materials company reported $0.31 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by $0.02. Royal Gold had a return on equity of 4.19% and a net margin of 23.03%. The business had revenue of $108.90 million during the quarter, compared to the consensus estimate of $108.72 million. During the same quarter in the previous year, the business posted $0.32 earnings per share. The firm’s revenue was up 15.7% on a year-over-year basis. On average, equities analysts anticipate that Royal Gold will post $1.79 EPS for the current year.
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The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 20th. Stockholders of record on Friday, October 6th will be given a dividend of $0.24 per share. The ex-dividend date is Thursday, October 5th. This represents a $0.96 annualized dividend and a dividend yield of 1.03%. Royal Gold’s payout ratio is 61.54%.
In other news, CFO Stefan Wenger sold 500 shares of the firm’s stock in a transaction on Wednesday, July 12th. The shares were sold at an average price of $80.00, for a total transaction of $40,000.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Tony A. Jensen sold 25,000 shares of the firm’s stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $85.00, for a total transaction of $2,125,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 106,845 shares of company stock worth $9,306,508 over the last 90 days. Insiders own 1.37% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Arcadia Investment Management Corp MI bought a new stake in shares of Royal Gold during the 2nd quarter valued at $104,000. Mountain Capital Investment Advisors Inc bought a new stake in Royal Gold in the 2nd quarter valued at $109,000. Almanack Investment Partners LLC. bought a new stake in Royal Gold in the 2nd quarter valued at $109,000. MUFG Americas Holdings Corp bought a new stake in Royal Gold in the 2nd quarter valued at $117,000. Finally, Meadow Creek Investment Management LLC increased its holdings in Royal Gold by 6.2% in the 1st quarter. Meadow Creek Investment Management LLC now owns 1,648 shares of the basic materials company’s stock valued at $115,000 after acquiring an additional 96 shares during the last quarter. Hedge funds and other institutional investors own 70.43% 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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