Equities researchers at Cantor Fitzgerald initiated coverage on shares of Royal Gold (NASDAQ:RGLD) (TSE:RGL) in a research report issued on Thursday. The firm set a “buy” rating and a $105.00 price target on the basic materials company’s stock. Cantor Fitzgerald’s price target indicates a potential upside of 25.69% from the stock’s previous close.
A number of other research firms also recently issued reports on RGLD. Canaccord Genuity restated a “buy” rating and issued a $113.00 price target on shares of Royal Gold in a research note on Sunday, October 1st. Royal Bank of Canada set a $89.00 price target on Royal Gold and gave the stock a “buy” rating in a research note on Monday, October 23rd. BMO Capital Markets set a $105.00 price target on Royal Gold and gave the stock a “buy” rating in a research note on Tuesday, November 14th. TheStreet upgraded Royal Gold from a “c+” rating to a “b-” rating in a research note on Wednesday, November 8th. Finally, Zacks Investment Research upgraded Royal Gold from a “hold” rating to a “strong-buy” rating and set a $94.00 price target on the stock in a research note on Wednesday, December 6th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $96.71.
Royal Gold (RGLD) traded down $0.38 during mid-day trading on Thursday, hitting $83.54. The stock had a trading volume of 755,800 shares, compared to its average volume of 829,950. The stock has a market cap of $5,480.00, a P/E ratio of 54.25, a P/E/G ratio of 4.76 and a beta of 0.46. Royal Gold has a 52-week low of $61.00 and a 52-week high of $94.39. The company has a current ratio of 3.92, a quick ratio of 3.73 and a debt-to-equity ratio of 0.23.
Royal Gold (NASDAQ:RGLD) (TSE:RGL) last released its quarterly earnings results on Wednesday, November 1st. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.07. The firm had revenue of $112.50 million for the quarter, compared to the consensus estimate of $112.43 million. Royal Gold had a return on equity of 4.12% and a net margin of 23.06%. The company’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same period last year, the business posted $0.46 EPS. sell-side analysts expect that Royal Gold will post 1.76 earnings per share for the current year.
In related news, CFO Stefan Wenger sold 1,500 shares of Royal Gold stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $85.00, for a total transaction of $127,500.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.12% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sprott Inc. lifted its position in Royal Gold by 4.3% during the third quarter. Sprott Inc. now owns 32,797 shares of the basic materials company’s stock valued at $2,822,000 after purchasing an additional 1,359 shares in the last quarter. Flinton Capital Management LLC raised its holdings in Royal Gold by 72.8% during the second quarter. Flinton Capital Management LLC now owns 6,052 shares of the basic materials company’s stock valued at $473,000 after acquiring an additional 2,550 shares during the period. Principal Financial Group Inc. raised its holdings in Royal Gold by 4.2% during the second quarter. Principal Financial Group Inc. now owns 294,652 shares of the basic materials company’s stock valued at $23,033,000 after acquiring an additional 11,795 shares during the period. Ameriprise Financial Inc. raised its holdings in Royal Gold by 1.2% during the third quarter. Ameriprise Financial Inc. now owns 215,769 shares of the basic materials company’s stock valued at $18,565,000 after acquiring an additional 2,512 shares during the period. Finally, America First Investment Advisors LLC raised its holdings in Royal Gold by 2.7% during the third quarter. America First Investment Advisors LLC now owns 150,863 shares of the basic materials company’s stock valued at $12,980,000 after acquiring an additional 3,996 shares during the period. Institutional investors own 72.02% of the company’s stock.
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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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