Royal Gold (NASDAQ:RGLD) Rating Lowered to “Hold” at Wall Street Zen

Royal Gold (NASDAQ:RGLD) (TSE:RGL) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

Other equities research analysts also recently issued research reports about the stock. Zacks Research upgraded shares of Royal Gold from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 17th. TD Securities reissued a “buy” rating and issued a $237.00 price target (up from $229.00) on shares of Royal Gold in a report on Friday, August 8th. Scotiabank reaffirmed an “outperform” rating on shares of Royal Gold in a research report on Thursday, October 23rd. Bank of America upped their price objective on shares of Royal Gold from $193.00 to $203.00 and gave the company an “underperform” rating in a research report on Thursday, October 16th. Finally, BMO Capital Markets set a $240.00 price target on Royal Gold and gave the company an “outperform” rating in a research note on Tuesday, October 21st. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Royal Gold currently has an average rating of “Moderate Buy” and an average target price of $220.44.

Royal Gold Price Performance

Shares of NASDAQ RGLD opened at $174.79 on Friday. Royal Gold has a one year low of $130.67 and a one year high of $209.42. The business’s 50-day moving average price is $189.13 and its two-hundred day moving average price is $178.36. The company has a market capitalization of $11.51 billion, a P/E ratio of 25.63, a price-to-earnings-growth ratio of 0.96 and a beta of 0.41.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last posted its earnings results on Wednesday, August 6th. The basic materials company reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.11. Royal Gold had a net margin of 56.24% and a return on equity of 13.30%. The firm had revenue of $209.64 million during the quarter, compared to analysts’ expectations of $186.63 million. During the same period in the previous year, the company earned $1.25 earnings per share. The company’s revenue was up 20.4% compared to the same quarter last year. On average, equities analysts anticipate that Royal Gold will post 6.2 EPS for the current year.

Hedge Funds Weigh In On Royal Gold

Hedge funds and other institutional investors have recently modified their holdings of the stock. WPG Advisers LLC acquired a new position in Royal Gold during the first quarter worth $27,000. Cullen Frost Bankers Inc. raised its stake in Royal Gold by 548.1% during the second quarter. Cullen Frost Bankers Inc. now owns 175 shares of the basic materials company’s stock worth $31,000 after acquiring an additional 148 shares in the last quarter. Banque Cantonale Vaudoise bought a new stake in shares of Royal Gold in the 1st quarter worth about $34,000. Blue Trust Inc. grew its holdings in shares of Royal Gold by 56.8% in the 2nd quarter. Blue Trust Inc. now owns 196 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 71 shares during the last quarter. Finally, Caldwell Trust Co bought a new stake in shares of Royal Gold in the 2nd quarter worth about $36,000. Institutional investors own 83.65% of the company’s stock.

Royal Gold Company Profile

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.