Royal Gold (NASDAQ:RGLD) Raised to Hold at Zacks Research

Royal Gold (NASDAQ:RGLD) (TSE:RGL) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Monday, Zacks reports.

RGLD has been the topic of several other reports. Royal Bank Of Canada reduced their target price on Royal Gold from $310.00 to $305.00 and set an “outperform” rating on the stock in a research report on Thursday, July 9th. Scotiabank restated a “sector perform” rating and issued a $310.00 price target on shares of Royal Gold in a report on Tuesday, July 14th. UBS Group upped their price objective on shares of Royal Gold from $280.00 to $285.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Weiss Ratings lowered shares of Royal Gold from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, August 4th. Finally, Jefferies Financial Group decreased their target price on shares of Royal Gold from $318.00 to $311.00 and set a “buy” rating on the stock in a research report on Monday, July 6th. Seven research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Royal Gold has a consensus rating of “Moderate Buy” and a consensus price target of $285.10.

Royal Gold Trading Down 0.3%

Shares of RGLD opened at $261.37 on Monday. The stock has a fifty day moving average of $222.79 and a two-hundred day moving average of $235.41. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.68 and a current ratio of 2.92. The company has a market capitalization of $22.15 billion, a PE ratio of 28.53, a price-to-earnings-growth ratio of 1.97 and a beta of 0.50. Royal Gold has a fifty-two week low of $168.88 and a fifty-two week high of $306.25.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last issued its quarterly earnings results on Wednesday, August 5th. The basic materials company reported $2.56 earnings per share for the quarter, topping analysts’ consensus estimates of $2.55 by $0.01. Royal Gold had a return on equity of 12.06% and a net margin of 47.74%.The company had revenue of $468.98 million for the quarter, compared to analyst estimates of $458.85 million. During the same quarter in the prior year, the company posted $1.81 EPS. The business’s revenue for the quarter was up 114.9% compared to the same quarter last year. As a group, analysts forecast that Royal Gold will post 10.26 EPS for the current year.

Insider Buying and Selling

In other Royal Gold news, SVP Randy Shefman sold 500 shares of the company’s stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $262.80, for a total transaction of $131,400.00. Following the completion of the sale, the senior vice president directly owned 8,082 shares in the company, valued at $2,123,949.60. This represents a 5.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.35% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Plancorp LLC boosted its position in Royal Gold by 69.8% during the 4th quarter. Plancorp LLC now owns 13,732 shares of the basic materials company’s stock worth $3,053,000 after purchasing an additional 5,646 shares during the period. World Investment Advisors purchased a new position in Royal Gold in the fourth quarter valued at about $1,024,000. TD Asset Management Inc lifted its stake in shares of Royal Gold by 161.2% during the fourth quarter. TD Asset Management Inc now owns 43,836 shares of the basic materials company’s stock worth $9,744,000 after purchasing an additional 27,051 shares in the last quarter. Vestcor Inc lifted its stake in shares of Royal Gold by 62.5% during the fourth quarter. Vestcor Inc now owns 32,177 shares of the basic materials company’s stock worth $7,153,000 after purchasing an additional 12,381 shares in the last quarter. Finally, Clear Harbor Asset Management LLC purchased a new stake in shares of Royal Gold in the second quarter worth about $1,083,000. 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.