Zacks Investment Research lowered shares of Royal Gold Inc. (NASDAQ:RGLD) from a hold rating to a strong sell rating in a research note released on Wednesday morning.
According to Zacks, “Royal Gold, Inc. is engaged in the acquisition and management of precious metals royalties. They seek to acquire existing royalties or to finance projects that are in production or near production in exchange for royalty interests. They also explore and develop properties thought to contain precious metals and seek to obtain royalty and other carried ownership interests in these properties through the subsequent transfer of operating interests to other mining companies. “
A number of other equities research analysts also recently weighed in on RGLD. National Bank Financial raised Royal Gold from a sector perform rating to an outperform rating and raised their price objective for the company from $72.00 to $85.00 in a research report on Wednesday, July 6th. FBR & Co set a $80.00 price objective on Royal Gold and gave the company a hold rating in a research report on Tuesday, September 20th. RBC Capital Markets reaffirmed an outperform rating on shares of Royal Gold in a research report on Tuesday, September 20th. HSBC reaffirmed a buy rating on shares of Royal Gold in a research report on Thursday, July 7th. Finally, Raymond James Financial Inc. raised Royal Gold from a market perform rating to an outperform rating and raised their price target for the stock from $72.00 to $85.00 in a report on Wednesday, July 6th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $72.29.
Shares of Royal Gold (NASDAQ:RGLD) opened at 66.27 on Wednesday. The stock’s 50 day moving average is $75.73 and its 200 day moving average is $69.24. The stock’s market cap is $4.33 billion. Royal Gold has a 52-week low of $24.68 and a 52-week high of $87.74.
Royal Gold (NASDAQ:RGLD) last issued its quarterly earnings data on Wednesday, August 10th. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by $0.01. Royal Gold had a negative net margin of 21.44% and a positive return on equity of 2.81%. The company had revenue of $94.10 million for the quarter, compared to the consensus estimate of $100.62 million. During the same period in the previous year, the business earned $0.23 EPS. Royal Gold’s revenue for the quarter was up 27.9% compared to the same quarter last year. On average, equities analysts predict that Royal Gold will post $1.86 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date is Wednesday, September 28th. Royal Gold’s dividend payout ratio (DPR) is -77.97%.
Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Royal Gold by 3.0% in the second quarter. Vanguard Group Inc. now owns 5,145,821 shares of the company’s stock worth $370,602,000 after buying an additional 151,587 shares during the period. State Street Corp increased its stake in Royal Gold by 1.7% in the second quarter. State Street Corp now owns 2,154,782 shares of the company’s stock worth $155,181,000 after buying an additional 35,999 shares during the period. Capital World Investors increased its stake in Royal Gold by 1.6% in the second quarter. Capital World Investors now owns 2,015,000 shares of the company’s stock worth $145,120,000 after buying an additional 31,250 shares during the period. BlackRock Institutional Trust Company N.A. increased its stake in Royal Gold by 1.0% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,935,414 shares of the company’s stock worth $139,389,000 after buying an additional 19,744 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Royal Gold by 4.7% in the second quarter. Dimensional Fund Advisors LP now owns 915,195 shares of the company’s stock worth $65,906,000 after buying an additional 41,099 shares during the period. 68.95% of the stock is owned by hedge funds and other institutional investors.
About Royal Gold
Royal Gold, Inc, together with its subsidiaries, is engaged in acquiring and managing precious metal streams, royalties and similar interests. The Company operates through two segments: Acquisition and Management of Stream Interests, and Acquisition and Management of Royalty Interests. Its assets are located in Canada, Chile, Dominican Republic, Mexico, the United States, Africa, Australia and Other.