Royal Gold (NASDAQ:RGLD) Rating Lowered to Hold at Zacks Research

Royal Gold (NASDAQ:RGLD) (TSE:RGL) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Tuesday,Zacks.com reports.

RGLD has been the topic of several other reports. Wall Street Zen downgraded shares of Royal Gold from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Canadian Imperial Bank of Commerce reissued a “neutral” rating and set a $330.00 price target on shares of Royal Gold in a research report on Wednesday, February 4th. BMO Capital Markets set a $240.00 price objective on Royal Gold and gave the stock an “outperform” rating in a research report on Tuesday, October 21st. Scotiabank downgraded Royal Gold from a “sector outperform” rating to a “sector perform” rating and set a $335.00 target price on the stock. in a report on Monday, January 26th. Finally, Raymond James Financial set a $264.00 price target on shares of Royal Gold in a report on Thursday, November 6th. Seven analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $251.50.

Royal Gold Price Performance

Shares of NASDAQ RGLD traded up $0.12 during mid-day trading on Tuesday, reaching $277.89. The company had a trading volume of 178,712 shares, compared to its average volume of 978,069. Royal Gold has a 1-year low of $142.95 and a 1-year high of $306.25. The stock has a market cap of $23.45 billion, a PE ratio of 38.15, a P/E/G ratio of 0.83 and a beta of 0.49. The company has a current ratio of 2.89, a quick ratio of 2.68 and a debt-to-equity ratio of 0.23. The company has a 50-day moving average price of $254.25 and a two-hundred day moving average price of $210.03.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last issued its quarterly earnings results on Wednesday, February 18th. The basic materials company reported $1.92 earnings per share for the quarter, missing analysts’ consensus estimates of $2.68 by ($0.76). Royal Gold had a return on equity of 14.14% and a net margin of 55.99%.The company had revenue of $360.85 million during the quarter, compared to analysts’ expectations of $425.47 million. During the same period in the prior year, the business posted $1.63 EPS. The company’s revenue for the quarter was up 85.2% compared to the same quarter last year. On average, equities analysts anticipate that Royal Gold will post 6.2 earnings per share for the current year.

Institutional Trading of Royal Gold

Several large investors have recently made changes to their positions in RGLD. Elyxium Wealth LLC acquired a new stake in Royal Gold in the 4th quarter worth approximately $27,000. Gen Wealth Partners Inc bought a new position in shares of Royal Gold in the fourth quarter valued at approximately $27,000. Vermillion & White Wealth Management Group LLC acquired a new stake in shares of Royal Gold in the third quarter worth $29,000. Trust Co. of Toledo NA OH bought a new stake in shares of Royal Gold during the 4th quarter worth $30,000. Finally, V Square Quantitative Management LLC acquired a new position in Royal Gold in the 4th quarter valued at $30,000. Institutional investors own 83.65% of the company’s stock.

About Royal Gold

Royal Gold, Inc, headquartered in Denver, Colorado, is a leading precious metals streaming and royalty company. Through its business model, Royal Gold provides upfront financing to mining operators in exchange for the right to purchase a percentage of future metal production at predetermined prices. This structure allows the company to participate in production upside while minimizing exposure to the operating and capital-intensive aspects of mine ownership.

The company’s portfolio encompasses interests in over 200 streams and royalties on projects across North America, South America, Europe, Africa and Australia.