Royal Gold (NASDAQ:RGLD) Lowered to “Hold” at StockNews.com

Royal Gold (NASDAQ:RGLD) (TSE:RGL) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

Several other brokerages also recently weighed in on RGLD. Cibc World Mkts raised shares of Royal Gold to a “hold” rating in a research report on Wednesday, July 10th. Raymond James boosted their price target on Royal Gold from $167.00 to $170.00 and gave the stock an “outperformer” rating in a research note on Friday, August 9th. BMO Capital Markets lifted their price objective on Royal Gold from $168.00 to $170.00 and gave the stock an “outperform” rating in a report on Wednesday, July 10th. CIBC boosted their target price on Royal Gold from $166.00 to $175.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 10th. Finally, Jefferies Financial Group raised their price target on shares of Royal Gold from $130.00 to $141.00 and gave the company a “hold” rating in a report on Friday, July 12th. One analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $157.00.

Royal Gold Stock Up 0.3 %

Shares of Royal Gold stock traded up $0.47 during trading on Wednesday, reaching $136.55. 194,779 shares of the stock were exchanged, compared to its average volume of 373,873. The stock’s fifty day moving average is $135.73 and its 200 day moving average is $126.23. The firm has a market cap of $8.98 billion, a price-to-earnings ratio of 40.28, a price-to-earnings-growth ratio of 1.08 and a beta of 0.90. Royal Gold has a 1 year low of $100.55 and a 1 year high of $142.77.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last released its quarterly earnings results on Wednesday, August 7th. The basic materials company reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.18 by $0.07. The company had revenue of $174.10 million during the quarter, compared to the consensus estimate of $172.12 million. Royal Gold had a net margin of 39.15% and a return on equity of 8.74%. Royal Gold’s revenue was up 20.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.88 earnings per share. Equities analysts forecast that Royal Gold will post 4.7 earnings per share for the current year.

Insider Transactions at Royal Gold

In other news, CFO Paul Libner sold 1,500 shares of Royal Gold stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $142.53, for a total transaction of $213,795.00. Following the transaction, the chief financial officer now owns 18,657 shares in the company, valued at approximately $2,659,182.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Ronald J. Vance sold 415 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $140.85, for a total transaction of $58,452.75. Following the completion of the transaction, the director now directly owns 8,194 shares in the company, valued at approximately $1,154,124.90. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Paul Libner sold 1,500 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $142.53, for a total transaction of $213,795.00. Following the completion of the sale, the chief financial officer now directly owns 18,657 shares of the company’s stock, valued at $2,659,182.21. The disclosure for this sale can be found here. Insiders have sold 7,515 shares of company stock worth $1,049,834 in the last quarter. Company insiders own 0.52% of the company’s stock.

Hedge Funds Weigh In On Royal Gold

Large investors have recently added to or reduced their stakes in the company. Fidelis Capital Partners LLC purchased a new position in shares of Royal Gold during the 1st quarter valued at $36,000. Janiczek Wealth Management LLC boosted its stake in shares of Royal Gold by 321.8% in the first quarter. Janiczek Wealth Management LLC now owns 426 shares of the basic materials company’s stock worth $52,000 after acquiring an additional 325 shares during the period. Fortis Group Advisors LLC grew its position in shares of Royal Gold by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 446 shares of the basic materials company’s stock worth $54,000 after purchasing an additional 223 shares in the last quarter. Quadrant Capital Group LLC raised its stake in Royal Gold by 31.3% during the 4th quarter. Quadrant Capital Group LLC now owns 487 shares of the basic materials company’s stock valued at $59,000 after purchasing an additional 116 shares during the period. Finally, Mather Group LLC. purchased a new position in Royal Gold in the 2nd quarter worth approximately $62,000. Hedge funds and other institutional investors own 83.65% of the company’s stock.

About Royal Gold

Royal Gold, Inc, together with its subsidiaries, acquires and manages precious metal streams, royalties, and related interests. The company engages in acquiring stream and royalty interests or to finance projects that are in production, development, or in the exploration stage in exchange for stream or royalty interests, which primarily consists of gold, silver, copper, nickel, zinc, lead, and other metals.