Desjardins Lowers Royal Gold (RGLD) to Hold

Desjardins cut shares of Royal Gold (NASDAQ:RGLD) (TSE:RGL) from a buy rating to a hold rating in a report issued on Friday, Benzinga’s Daily Ratings Newsletter reports.

A number of other equities analysts have also weighed in on the company. TD Securities boosted their target price on Royal Gold from $94.00 to $98.00 and gave the stock a hold rating in a research report on Tuesday, February 26th. B. Riley raised Royal Gold from a neutral rating to a buy rating and boosted their target price for the stock from $86.00 to $100.00 in a research report on Monday, April 1st. Raymond James reissued an outperform rating and issued a $95.00 target price on shares of Royal Gold in a research report on Friday, February 8th. BidaskClub raised Royal Gold from a hold rating to a buy rating in a research report on Tuesday, December 25th. Finally, Zacks Investment Research raised Royal Gold from a sell rating to a hold rating in a research report on Monday, January 7th. Seven equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Royal Gold has a consensus rating of Buy and a consensus target price of $94.61.

RGLD opened at $92.79 on Friday. The company has a quick ratio of 5.27, a current ratio of 5.48 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $5.99 billion, a PE ratio of 52.57, a P/E/G ratio of 6.01 and a beta of 0.14. Royal Gold has a 1 year low of $70.16 and a 1 year high of $98.53.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last issued its earnings results on Wednesday, February 6th. The basic materials company reported $0.36 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.01. Royal Gold had a positive return on equity of 4.56% and a negative net margin of 20.57%. The business had revenue of $97.60 million during the quarter, compared to analyst estimates of $100.80 million. During the same quarter in the previous year, the firm earned $0.41 EPS. Royal Gold’s revenue was down 14.6% on a year-over-year basis. Sell-side analysts forecast that Royal Gold will post 1.54 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 19th. Shareholders of record on Friday, April 5th will be given a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date is Thursday, April 4th. Royal Gold’s dividend payout ratio (DPR) is 60.23%.

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. increased its position in shares of Royal Gold by 1.8% during the 3rd quarter. Vanguard Group Inc. now owns 6,410,978 shares of the basic materials company’s stock valued at $494,029,000 after purchasing an additional 113,273 shares during the last quarter. Vanguard Group Inc increased its position in shares of Royal Gold by 1.8% during the 3rd quarter. Vanguard Group Inc now owns 6,410,978 shares of the basic materials company’s stock valued at $494,029,000 after purchasing an additional 113,273 shares during the last quarter. Van ECK Associates Corp increased its position in shares of Royal Gold by 20.9% during the 4th quarter. Van ECK Associates Corp now owns 4,811,625 shares of the basic materials company’s stock valued at $412,116,000 after purchasing an additional 831,019 shares during the last quarter. Oregon Public Employees Retirement Fund increased its position in shares of Royal Gold by 8,465.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,209,941 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 2,184,139 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Royal Gold during the 4th quarter valued at about $82,113,000. 78.55% of the stock is owned by institutional investors and hedge funds.

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.

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Analyst Recommendations for Royal Gold (NASDAQ:RGLD)

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