Royal Gold (RGLD) Rating Increased to Strong-Buy at Zacks Investment Research

Royal Gold (NASDAQ:RGLD) (TSE:RGL) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Wednesday. The brokerage presently has a $94.00 price target on the basic materials company’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 14.93% from the company’s previous close.

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 research analysts have also commented on RGLD. B. Riley reaffirmed a “neutral” rating on shares of Royal Gold in a research report on Wednesday, November 1st. National Bank Financial upped their price objective on shares of Royal Gold from $82.50 to $92.50 and gave the company a “sector perform” rating in a research report on Thursday, August 10th. Canaccord Genuity reissued a “buy” rating and issued a $105.00 price target (up previously from $99.00) on shares of Royal Gold in a research report on Thursday, August 10th. BidaskClub lowered shares of Royal Gold from a “sell” rating to a “strong sell” rating in a research report on Saturday, December 2nd. Finally, FBR & Co increased their price target on shares of Royal Gold from $81.00 to $85.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 16th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $96.28.

Royal Gold (RGLD) traded up $0.36 during mid-day trading on Wednesday, reaching $81.79. 534,600 shares of the company’s stock were exchanged, compared to its average volume of 532,576. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.92 and a quick ratio of 3.73. Royal Gold has a one year low of $60.21 and a one year high of $94.39. The company has a market capitalization of $5,329.94, a PE ratio of 55.40, a price-to-earnings-growth ratio of 4.62 and a beta of 0.46.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last announced its quarterly earnings data on Wednesday, November 1st. The basic materials company reported $0.44 EPS for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.07. The business had revenue of $112.50 million during the quarter, compared to analyst estimates of $112.43 million. Royal Gold had a net margin of 23.06% and a return on equity of 4.12%. The firm’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.46 earnings per share. equities analysts forecast that Royal Gold will post 1.76 earnings per share for the current fiscal year.

In other Royal Gold news, CFO Stefan Wenger sold 1,500 shares of the company’s stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $85.00, for a total transaction of $127,500.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.12% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Arcadia Investment Management Corp MI bought a new stake in shares of Royal Gold during the second quarter valued at approximately $104,000. Mountain Capital Investment Advisors Inc bought a new stake in shares of Royal Gold during the second quarter valued at approximately $109,000. Almanack Investment Partners LLC. bought a new stake in shares of Royal Gold during the second quarter valued at approximately $109,000. MUFG Americas Holdings Corp bought a new position in Royal Gold in the second quarter valued at approximately $117,000. Finally, KBC Group NV bought a new position in Royal Gold in the second quarter valued at approximately $142,000. 72.04% of the stock is currently owned by institutional investors and hedge funds.

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Royal Gold Company Profile

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.

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