Royal Gold (NASDAQ:RGLD – Get Free Report) (TSE:RGL) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Monday, Zacks reports.
Several other equities research analysts have also recently issued reports on RGLD. Royal Bank Of Canada cut their price target on Royal Gold from $310.00 to $305.00 and set an “outperform” rating for the company in a research note on Thursday, July 9th. Jefferies Financial Group cut their target price on Royal Gold from $318.00 to $311.00 and set a “buy” rating for the company in a research report on Monday, July 6th. Weiss Ratings cut Royal Gold from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, August 4th. 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 report on Friday, August 7th. Finally, Scotiabank restated a “sector perform” rating and set a $310.00 price objective on shares of Royal Gold in a research report on Tuesday, July 14th. Seven equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $285.10.
Read Our Latest Stock Analysis on Royal Gold
Royal Gold Price Performance
Royal Gold (NASDAQ:RGLD – Get Free Report) (TSE:RGL) last posted its quarterly earnings data on Wednesday, August 5th. The basic materials company reported $2.56 earnings per share (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 12.06%. The firm had revenue of $468.98 million during the quarter, compared to the consensus estimate of $458.85 million. During the same quarter in the previous year, the firm posted $1.81 EPS. The business’s revenue for the quarter was up 114.9% compared to the same quarter last year. As a group, sell-side analysts predict that Royal Gold will post 10.26 earnings per share for the current year.
Insider Buying and Selling at Royal Gold
In related news, SVP Randy Shefman sold 500 shares of the business’s stock in a transaction on Friday, August 28th. The stock was sold at an average price of $262.80, for a total transaction of $131,400.00. Following the sale, the senior vice president owned 8,082 shares in the company, valued at $2,123,949.60. The trade was a 5.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.35% of the stock is currently owned by company insiders.
Institutional Trading of Royal Gold
Several hedge funds and other institutional investors have recently made changes to their positions in the company. California State Teachers Retirement System increased its stake in shares of Royal Gold by 19,848.6% in the second quarter. California State Teachers Retirement System now owns 19,665,976 shares of the basic materials company’s stock valued at $3,925,525,000 after buying an additional 19,567,393 shares during the period. BlackRock Inc. bought a new stake in Royal Gold during the 2nd quarter worth approximately $2,177,865,000. Capital International Investors acquired a new position in Royal Gold in the 4th quarter valued at approximately $332,026,000. Van ECK Associates Corp increased its position in Royal Gold by 18.1% in the 4th quarter. Van ECK Associates Corp now owns 5,900,432 shares of the basic materials company’s stock valued at $1,311,607,000 after acquiring an additional 905,488 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of Royal Gold by 89.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,855,877 shares of the basic materials company’s stock valued at $412,543,000 after acquiring an additional 874,329 shares during the last quarter. 83.65% of the stock is currently owned by institutional investors.
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.
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