Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) was downgraded by investment analysts at Macquarie from an “outperform” rating to a “neutral” rating in a note issued to investors on Wednesday, July 12th, Marketbeat Ratings reports.
Several other research analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of Royal Gold from a “hold” rating to a “sell” rating in a report on Thursday, April 6th. Barclays PLC restated an “overweight” rating and set a $83.00 target price (up previously from $82.00) on shares of Royal Gold in a report on Saturday, April 22nd. National Bank Financial cut shares of Royal Gold from an “outperform” rating to a “sector perform” rating and increased their target price for the stock from $80.00 to $82.50 in a report on Thursday, April 20th. Royal Bank Of Canada reiterated a “buy” rating and issued a $83.00 price target on shares of Royal Gold in a research note on Monday, June 5th. Finally, BMO Capital Markets reissued a “buy” rating and issued a $95.00 price objective on shares of Royal Gold in a research report on Thursday, June 29th. Six investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $89.77.
Shares of Royal Gold (NASDAQ:RGLD) traded down 0.49% during mid-day trading on Wednesday, reaching $84.53. 582,041 shares of the company were exchanged. Royal Gold has a 12 month low of $60.21 and a 12 month high of $87.90. The stock has a market capitalization of $5.52 billion, a P/E ratio of 54.01 and a beta of 0.68. The firm has a 50-day moving average price of $80.74 and a 200 day moving average price of $73.80.
Royal Gold (NASDAQ:RGLD) (TSE:RGL) last issued its earnings results on Wednesday, May 10th. The basic materials company reported $0.36 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by $0.02. Royal Gold had a net margin of 23.93% and a return on equity of 4.22%. The firm had revenue of $107 million during the quarter, compared to the consensus estimate of $105.14 million. During the same period in the previous year, the company posted $0.29 EPS. The firm’s revenue for the quarter was up 14.4% on a year-over-year basis. Equities research analysts anticipate that Royal Gold will post $1.65 EPS for the current fiscal year.
In other news, CEO Tony A. Jensen sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $85.00, for a total value of $2,125,000.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Stefan Wenger sold 500 shares of the firm’s stock in a transaction that occurred on Thursday, May 11th. The shares were sold at an average price of $75.00, for a total transaction of $37,500.00. The disclosure for this sale can be found here. Insiders have sold 58,129 shares of company stock worth $4,774,160 over the last quarter. Corporate insiders own 1.37% of the company’s stock.
Several large investors have recently bought and sold shares of the stock. Arcadia Investment Management Corp MI bought a new stake in Royal Gold during the second quarter worth $104,000. MUFG Americas Holdings Corp acquired a new stake in Royal Gold during the second quarter valued at approximately $117,000. Meadow Creek Investment Management LLC increased its stake in Royal Gold by 6.2% in the first quarter. Meadow Creek Investment Management LLC now owns 1,648 shares of the basic materials company’s stock valued at $115,000 after buying an additional 96 shares in the last quarter. KBC Group NV acquired a new stake in Royal Gold during the second quarter valued at approximately $142,000. Finally, US Bancorp DE increased its stake in Royal Gold by 6.4% in the second quarter. US Bancorp DE now owns 2,120 shares of the basic materials company’s stock valued at $166,000 after buying an additional 127 shares in the last quarter. Institutional investors own 70.57% of the company’s stock.
About Royal Gold
Royal Gold, Inc, together with its subsidiaries, is engaged in acquiring and managing precious metal streams, royalties and similar interests. The Company operates through two segments: Acquisition and Management of Stream Interests, and Acquisition and Management of Royalty Interests. Its assets are located in Canada, Chile, Dominican Republic, Mexico, the United States, Africa, Australia and Other.
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