Royal Gold (NASDAQ:RGLD) (TSE:RGL) had its target price upped by B. Riley from $100.00 to $125.00 in a research report released on Friday morning, The Fly reports. B. Riley currently has a buy rating on the basic materials company’s stock. B. Riley also issued estimates for Royal Gold’s FY2020 earnings at $2.30 EPS and FY2021 earnings at $2.60 EPS.
Several other brokerages have also issued reports on RGLD. Royal Bank of Canada raised their price objective on NVIDIA to $200.00 and gave the company an outperform rating in a report on Monday, May 13th. National Bank Financial downgraded Detour Gold to a hold rating in a report on Friday, June 28th. Bank of America set a $35.00 price objective on Conagra Brands and gave the company a buy rating in a report on Friday, June 28th. Zacks Investment Research raised Global Ship Lease from a hold rating to a strong-buy rating and set a $7.75 price objective on the stock in a report on Monday, June 3rd. Finally, Canaccord Genuity set a $52.00 price objective on Zillow Group and gave the company a hold rating in a report on Wednesday, June 19th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Royal Gold has a consensus rating of Hold and an average price target of $102.35.
Royal Gold stock opened at $117.79 on Friday. The business’s fifty day moving average is $100.41. Royal Gold has a one year low of $70.16 and a one year high of $118.50. The company has a debt-to-equity ratio of 0.17, a quick ratio of 5.13 and a current ratio of 5.39. The company has a market cap of $7.72 billion, a price-to-earnings ratio of 66.93, a PEG ratio of 5.47 and a beta of 0.21.
Royal Gold (NASDAQ:RGLD) (TSE:RGL) last posted its quarterly earnings data on Wednesday, May 1st. The basic materials company reported $0.44 EPS for the quarter, missing the Zacks’ consensus estimate of $0.45 by ($0.01). Royal Gold had a return on equity of 4.36% and a net margin of 22.19%. The company had revenue of $109.80 million for the quarter, compared to the consensus estimate of $115.32 million. During the same quarter last year, the business earned $0.48 EPS. Royal Gold’s revenue was down 5.3% on a year-over-year basis. On average, equities analysts expect that Royal Gold will post 1.51 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, July 19th. Shareholders of record on Friday, July 5th were issued a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a yield of 0.90%. The ex-dividend date was Wednesday, July 3rd. Royal Gold’s payout ratio is presently 60.23%.
In other Royal Gold news, CEO Tony A. Jensen sold 38,821 shares of Royal Gold stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $92.42, for a total transaction of $3,587,836.82. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Bruce Christopher Kirchhoff sold 9,471 shares of Royal Gold stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $93.18, for a total value of $882,507.78. Following the transaction, the vice president now directly owns 50,348 shares in the company, valued at $4,691,426.64. The disclosure for this sale can be found here. Insiders have sold a total of 87,423 shares of company stock worth $8,138,746 over the last ninety days. Company insiders own 0.95% of the company’s stock.
Several large investors have recently made changes to their positions in the company. 6 Meridian lifted its stake in shares of Royal Gold by 2.0% in the 2nd quarter. 6 Meridian now owns 5,850 shares of the basic materials company’s stock valued at $600,000 after purchasing an additional 112 shares during the period. Advisory Services Network LLC lifted its stake in shares of Royal Gold by 0.5% in the 4th quarter. Advisory Services Network LLC now owns 25,021 shares of the basic materials company’s stock valued at $2,143,000 after purchasing an additional 123 shares during the period. Cordasco Financial Network lifted its stake in shares of Royal Gold by 72.4% in the 1st quarter. Cordasco Financial Network now owns 293 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 123 shares during the period. Versant Capital Management Inc lifted its stake in shares of Royal Gold by 18.6% in the 1st quarter. Versant Capital Management Inc now owns 848 shares of the basic materials company’s stock valued at $77,000 after purchasing an additional 133 shares during the period. Finally, Optimum Investment Advisors lifted its stake in shares of Royal Gold by 5.9% in the 1st quarter. Optimum Investment Advisors now owns 2,675 shares of the basic materials company’s stock valued at $243,000 after purchasing an additional 150 shares during the period. 79.23% of the stock is currently owned by institutional investors.
Royal Gold Company Profile
Royal Gold, Inc, together with its subsidiaries, acquires and manages precious metal streams, royalties, and related interests. It focuses on acquiring stream and royalty interests or to finance projects that are in production or in development stage in exchange for stream or royalty interests, which primarily consists of gold, silver, copper, nickel, zinc, lead, cobalt, and molybdenum.
Further Reading: What Does a Sell-Side Analyst Rating Mean?
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