Royal Gold (NASDAQ:RGLD) (TSE:RGL) had its price target reduced by analysts at B. Riley from $132.90 to $127.10 in a research report issued to clients and investors on Monday, BenzingaRatingsTable reports. The brokerage presently has a “buy” rating on the basic materials company’s stock. B. Riley’s price objective points to a potential upside of 7.06% from the company’s current price.
RGLD has been the topic of several other reports. BidaskClub lowered Royal Gold from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, September 10th. TD Securities upped their price objective on Royal Gold from $110.00 to $130.00 and gave the company a “hold” rating in a research note on Friday, August 9th. ValuEngine lowered Royal Gold from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Raymond James upped their price objective on Royal Gold from $107.00 to $111.00 and gave the company a “market perform” rating in a research note on Friday, August 9th. Finally, National Bank Financial upped their price objective on Royal Gold from $112.50 to $117.50 and gave the company a “sector perform” rating in a research note on Thursday, August 8th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $111.20.
RGLD stock opened at $118.72 on Monday. Royal Gold has a 1-year low of $70.16 and a 1-year high of $138.78. The firm has a market cap of $7.99 billion, a P/E ratio of 81.88, a P/E/G ratio of 4.57 and a beta of 0.08. The business’s 50 day moving average is $126.13 and its 200-day moving average is $108.38. The company has a current ratio of 4.60, a quick ratio of 4.26 and a debt-to-equity ratio of 0.10.
In other news, CEO Tony A. Jensen sold 46,570 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $124.59, for a total value of $5,802,156.30. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director William M. Hayes sold 18,369 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $125.00, for a total value of $2,296,125.00. The disclosure for this sale can be found here. Insiders sold a total of 87,603 shares of company stock worth $11,107,708 over the last three months. 0.52% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the company. Truvestments Capital LLC boosted its holdings in shares of Royal Gold by 100.0% in the 3rd quarter. Truvestments Capital LLC now owns 240 shares of the basic materials company’s stock worth $30,000 after acquiring an additional 120 shares in the last quarter. CENTRAL TRUST Co lifted its holdings in Royal Gold by 375.0% during the 2nd quarter. CENTRAL TRUST Co now owns 475 shares of the basic materials company’s stock worth $51,000 after buying an additional 375 shares in the last quarter. WealthStone Inc. acquired a new position in Royal Gold during the 2nd quarter worth $63,000. NumerixS Investment Technologies Inc acquired a new position in Royal Gold during the 2nd quarter worth $64,000. Finally, CWM LLC lifted its holdings in Royal Gold by 592.2% during the 3rd quarter. CWM LLC now owns 713 shares of the basic materials company’s stock worth $88,000 after buying an additional 610 shares in the last quarter. 78.19% of the stock is currently owned by institutional investors and hedge funds.
About Royal Gold
Royal Gold, Inc, together with its subsidiaries, acquires and manages precious metal streams, royalties, and related interests. It focuses on acquiring stream and royalty interests or to finance projects that are in production or in development stage in exchange for stream or royalty interests, which primarily consists of gold, silver, copper, nickel, zinc, lead, cobalt, and molybdenum.
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