Royal Gold (NASDAQ:RGLD – Get Free Report) (TSE:RGL) had its target price upped by research analysts at TD from $289.00 to $315.00 in a report issued on Friday, BayStreet reports. The brokerage presently has a “buy” rating on the basic materials company’s stock. TD’s price objective suggests a potential upside of 25.56% from the stock’s previous close.
A number of other research firms also recently commented on RGLD. Weiss Ratings downgraded Royal Gold from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, August 4th. Scotiabank reaffirmed a “sector perform” rating and set a $310.00 target price on shares of Royal Gold in a research note on Tuesday, July 14th. Jefferies Financial Group cut their price objective on shares of Royal Gold from $318.00 to $311.00 and set a “buy” rating on the stock in a research note on Monday, July 6th. Zacks Research raised shares of Royal Gold from a “strong sell” rating to a “hold” rating in a research note on Monday, September 7th. Finally, UBS Group upped their price target on shares of Royal Gold from $280.00 to $285.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Eight equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Royal Gold presently has an average rating of “Moderate Buy” and a consensus target price of $289.64.
View Our Latest Stock Report on RGLD
Royal Gold Price Performance
Royal Gold (NASDAQ:RGLD – Get Free Report) (TSE:RGL) last released its earnings results on Wednesday, August 5th. The basic materials company reported $2.56 EPS for the quarter, beating the consensus estimate of $2.55 by $0.01. Royal Gold had a return on equity of 12.06% and a net margin of 47.74%.The firm had revenue of $468.98 million during the quarter, compared to analyst estimates of $458.85 million. During the same period in the prior year, the firm posted $1.81 earnings per share. The business’s quarterly revenue was up 114.9% compared to the same quarter last year. On average, sell-side analysts predict that Royal Gold will post 10.26 EPS for the current fiscal year.
Insiders Place Their Bets
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 value of $131,400.00. Following the transaction, the senior vice president directly owned 8,082 shares of the company’s stock, valued at $2,123,949.60. This represents a 5.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.35% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Royal Gold
Large investors have recently made changes to their positions in the company. Core Capital Management & Research inc. acquired a new stake in Royal Gold in the second quarter valued at approximately $32,000. Integrated Wealth Concepts LLC lifted its stake in shares of Royal Gold by 5.9% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 24,546 shares of the basic materials company’s stock valued at $4,900,000 after purchasing an additional 1,361 shares during the last quarter. Allworth Financial LP lifted its stake in shares of Royal Gold by 94.9% in the 2nd quarter. Allworth Financial LP now owns 10,449 shares of the basic materials company’s stock valued at $2,086,000 after purchasing an additional 5,088 shares during the last quarter. Arizona State Retirement System boosted its holdings in Royal Gold by 1.0% in the second quarter. Arizona State Retirement System now owns 23,410 shares of the basic materials company’s stock worth $4,673,000 after purchasing an additional 228 shares in the last quarter. Finally, Murphy Pohlad Asset Management LLC boosted its holdings in Royal Gold by 21.7% in the second quarter. Murphy Pohlad Asset Management LLC now owns 1,765 shares of the basic materials company’s stock worth $352,000 after purchasing an additional 315 shares in the last quarter. Institutional investors own 83.65% of the company’s stock.
About Royal Gold
Royal Gold, Inc is a precious metals streaming and royalty company headquartered in Denver, Colorado. Rather than operating mines directly, the company provides financing to mining companies in exchange for the right to purchase a portion of the metals produced from certain projects at predetermined prices, or to receive revenue-based payments tied to mineral production.
Royal Gold’s portfolio is organized into two primary businesses: streams and royalties. Its streaming agreements generally provide rights to purchase gold, silver, copper or other metals from mining operations, while its royalty interests entitle the company to a percentage of revenue or production from a mine without bearing the operator’s ongoing costs.
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