Royal Gold (NASDAQ:RGLD – Get Rating) (TSE:RGL) was upgraded by research analysts at Canaccord Genuity Group from a “hold” rating to a “buy” rating in a report released on Monday, Marketbeat reports.
Other equities research analysts have also recently issued reports about the stock. National Bank Financial raised their price objective on shares of Royal Gold from C$140.00 to C$165.00 in a research report on Wednesday, April 20th. Canaccord Genuity Group cut Royal Gold from a “buy” rating to a “hold” rating and upped their price objective for the company from $135.00 to $145.00 in a report on Tuesday, April 5th. JPMorgan Chase & Co. cut their target price on Royal Gold from $147.00 to $143.00 and set an “overweight” rating for the company in a research note on Tuesday, February 22nd. StockNews.com started coverage on Royal Gold in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Raymond James set a $158.00 price objective on Royal Gold and gave the stock an “outperform” rating in a research report on Friday, May 6th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $141.62.
RGLD stock opened at $114.84 on Monday. Royal Gold has a 1 year low of $92.01 and a 1 year high of $147.70. The firm has a market capitalization of $7.54 billion, a PE ratio of 26.40, a price-to-earnings-growth ratio of 3.08 and a beta of 0.66. The business has a 50 day simple moving average of $127.35 and a 200-day simple moving average of $117.92.
Royal Gold (NASDAQ:RGLD – Get Rating) (TSE:RGL) last issued its earnings results on Wednesday, May 4th. The basic materials company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.16. Royal Gold had a return on equity of 10.61% and a net margin of 42.43%. The company had revenue of $162.40 million during the quarter, compared to analysts’ expectations of $156.00 million. During the same period in the prior year, the business earned $0.84 EPS. The firm’s quarterly revenue was up 13.9% on a year-over-year basis. Equities research analysts forecast that Royal Gold will post 3.73 earnings per share for the current fiscal year.
In related news, VP Randy Shefman sold 638 shares of the company’s stock in a transaction on Thursday, June 2nd. The stock was sold at an average price of $117.57, for a total transaction of $75,009.66. Following the transaction, the vice president now owns 9,456 shares of the company’s stock, valued at $1,111,741.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.38% of the stock is currently owned by insiders.
A number of institutional investors have recently modified their holdings of RGLD. Arizona State Retirement System raised its stake in shares of Royal Gold by 0.4% during the 1st quarter. Arizona State Retirement System now owns 17,743 shares of the basic materials company’s stock worth $2,507,000 after buying an additional 77 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Royal Gold by 2.4% in the first quarter. PNC Financial Services Group Inc. now owns 4,042 shares of the basic materials company’s stock worth $572,000 after acquiring an additional 96 shares during the last quarter. Commerce Bank boosted its stake in shares of Royal Gold by 3.8% during the fourth quarter. Commerce Bank now owns 2,629 shares of the basic materials company’s stock valued at $277,000 after acquiring an additional 97 shares during the last quarter. Stonebridge Capital Advisors LLC increased its position in Royal Gold by 16.7% during the 3rd quarter. Stonebridge Capital Advisors LLC now owns 700 shares of the basic materials company’s stock worth $67,000 after purchasing an additional 100 shares in the last quarter. Finally, Avantax Advisory Services Inc. raised its stake in Royal Gold by 5.2% in the 1st quarter. Avantax Advisory Services Inc. now owns 2,256 shares of the basic materials company’s stock valued at $319,000 after purchasing an additional 111 shares during the last quarter. 80.33% of the stock is owned by institutional investors.
Royal Gold Company Profile (Get Rating)
Royal Gold, Inc, together with its subsidiaries, acquires and manages precious metal streams, royalties, and related interests. It focuses on acquiring stream and royalty interests or to finance projects that are in production or in development stage in exchange for stream or royalty interests, which primarily consists of gold, silver, copper, nickel, zinc, lead, and cobalt.
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Source: defenseworld.net
