Zacks Research Downgrades Royal Gold (NASDAQ:RGLD) to Hold

Royal Gold (NASDAQ:RGLD) (TSE:RGL) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Tuesday,Zacks.com reports.

Several other equities analysts have also commented on RGLD. Canadian Imperial Bank of Commerce reissued a “neutral” rating and set a $330.00 price target on shares of Royal Gold in a research report on Wednesday, February 4th. TD Cowen lifted their price objective on shares of Royal Gold from $261.00 to $263.00 and gave the company a “buy” rating in a research note on Tuesday, November 18th. Weiss Ratings restated a “buy (b)” rating on shares of Royal Gold in a research note on Thursday, January 22nd. Wall Street Zen lowered shares of Royal Gold from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $270.00 price objective on shares of Royal Gold in a report on Sunday, December 7th. Seven investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $251.50.

Royal Gold Price Performance

Royal Gold stock opened at $277.77 on Tuesday. The firm has a fifty day moving average of $254.25 and a 200-day moving average of $210.03. Royal Gold has a 52-week low of $142.95 and a 52-week high of $306.25. The company has a quick ratio of 2.68, a current ratio of 2.89 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $23.44 billion, a P/E ratio of 38.16, a PEG ratio of 0.83 and a beta of 0.49.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last announced its quarterly earnings results on Wednesday, February 18th. The basic materials company reported $1.92 earnings per share for the quarter, missing analysts’ consensus estimates of $2.68 by ($0.76). The business had revenue of $360.85 million for the quarter, compared to analysts’ expectations of $425.47 million. Royal Gold had a return on equity of 14.14% and a net margin of 55.99%.The firm’s revenue for the quarter was up 85.2% on a year-over-year basis. During the same period last year, the company posted $1.63 earnings per share. As a group, analysts predict that Royal Gold will post 6.2 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Elyxium Wealth LLC bought a new position in shares of Royal Gold during the fourth quarter worth about $27,000. Gen Wealth Partners Inc acquired a new stake in Royal Gold during the fourth quarter valued at approximately $27,000. Vermillion & White Wealth Management Group LLC bought a new position in Royal Gold during the 3rd quarter worth approximately $29,000. Trust Co. of Toledo NA OH acquired a new position in shares of Royal Gold in the 4th quarter worth approximately $30,000. Finally, V Square Quantitative Management LLC bought a new stake in shares of Royal Gold in the 4th quarter valued at approximately $30,000. 83.65% of the stock is owned by institutional investors and hedge funds.

About Royal Gold

Royal Gold, Inc, headquartered in Denver, Colorado, is a leading precious metals streaming and royalty company. Through its business model, Royal Gold provides upfront financing to mining operators in exchange for the right to purchase a percentage of future metal production at predetermined prices. This structure allows the company to participate in production upside while minimizing exposure to the operating and capital-intensive aspects of mine ownership.

The company’s portfolio encompasses interests in over 200 streams and royalties on projects across North America, South America, Europe, Africa and Australia.