Royal Gold (NASDAQ:RGLD – Get Free Report) (TSE:RGL) had its price target upped by equities research analysts at UBS Group from $280.00 to $285.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the basic materials company’s stock. UBS Group’s price objective indicates a potential upside of 23.96% from the stock’s previous close.
Other equities analysts have also issued reports about the company. Jefferies Financial Group decreased their target price on 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 lowered Royal Gold from a “hold” rating to a “strong sell” rating in a report on Friday, July 31st. Scotiabank restated a “sector perform” rating and issued a $310.00 price objective on shares of Royal Gold in a research report on Tuesday, July 14th. Weiss Ratings downgraded shares of Royal Gold from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday. Finally, Royal Bank Of Canada dropped their target price on shares of Royal Gold from $310.00 to $305.00 and set an “outperform” rating for the company in a research report on Thursday, July 9th. Eight analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $280.73.
View Our Latest Analysis on Royal Gold
Royal Gold Price Performance
Royal Gold (NASDAQ:RGLD – Get Free Report) (TSE:RGL) last released its quarterly earnings results on Wednesday, August 5th. The basic materials company reported $2.56 EPS for the quarter, beating analysts’ consensus estimates of $2.55 by $0.01. Royal Gold had a net margin of 47.74% and a return on equity of 12.86%. 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 previous year, the business earned $1.81 EPS. The business’s revenue for the quarter was up 114.9% on a year-over-year basis. Equities analysts expect that Royal Gold will post 10.38 EPS for the current year.
Insiders Place Their Bets
In other Royal Gold news, SVP Randy Shefman sold 500 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $215.85, for a total value of $107,925.00. Following the completion of the sale, the senior vice president owned 8,582 shares of the company’s stock, valued at $1,852,424.70. This represents a 5.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.35% of the stock is owned by insiders.
Institutional Investors Weigh In On Royal Gold
A number of hedge funds have recently made changes to their positions in the business. Axiom Investment Management LLC purchased a new position in Royal Gold in the 1st quarter worth $25,000. Grove Bank & Trust boosted its position in Royal Gold by 88.6% during the second quarter. Grove Bank & Trust now owns 132 shares of the basic materials company’s stock valued at $26,000 after buying an additional 62 shares during the period. Elyxium Wealth LLC purchased a new stake in Royal Gold during the fourth quarter valued at about $27,000. Gen Wealth Partners Inc bought a new position in shares of Royal Gold during the fourth quarter valued at about $27,000. Finally, V Square Quantitative Management LLC purchased a new position in shares of Royal Gold in the fourth quarter worth about $30,000. 83.65% of the stock is currently owned by institutional investors.
Royal Gold Company Profile
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.
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