Royal Gold (RGLD) Downgraded to Sector Perform at Royal Bank of Canada

Royal Bank of Canada downgraded shares of Royal Gold (NASDAQ:RGLD) (TSE:RGL) from an outperform rating to a sector perform rating in a research report report published on Monday, BayStreet.CA reports. They currently have $100.00 target price on the basic materials company’s stock, down from their prior target price of $104.00. The analysts noted that the move was a valuation call.

A number of other research analysts have also issued reports on the stock. BidaskClub lowered shares of Royal Gold from a sell rating to a strong sell rating in a research note on Saturday, May 4th. Raymond James reissued an outperform rating and set a $98.00 target price on shares of Royal Gold in a research note on Friday, May 3rd. Zacks Investment Research raised shares of Royal Gold from a hold rating to a buy rating and set a $99.00 price target for the company in a research note on Monday, April 29th. ValuEngine lowered shares of Royal Gold from a buy rating to a hold rating in a research note on Wednesday, April 24th. Finally, Desjardins lowered shares of Royal Gold from a buy rating to a hold rating in a research note on Friday, April 12th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company’s stock. Royal Gold has an average rating of Hold and an average target price of $95.75.

Royal Gold stock opened at $84.44 on Monday. The company has a quick ratio of 5.13, a current ratio of 5.39 and a debt-to-equity ratio of 0.17. The stock has a market cap of $5.51 billion, a price-to-earnings ratio of 47.98, a PEG ratio of 5.52 and a beta of 0.11. Royal Gold has a 52-week low of $70.16 and a 52-week high of $98.53.



Royal Gold (NASDAQ:RGLD) (TSE:RGL) last posted its earnings results on Wednesday, May 1st. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.01). The firm had revenue of $109.80 million for the quarter, compared to analyst estimates of $115.32 million. Royal Gold had a net margin of 22.19% and a return on equity of 4.36%. The company’s revenue for the quarter was down 5.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.48 earnings per share. Equities analysts forecast that Royal Gold will post 1.53 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, April 19th. Stockholders of record on Friday, April 5th were paid a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date was Thursday, April 4th. Royal Gold’s dividend payout ratio is currently 60.23%.

Several large investors have recently modified their holdings of RGLD. Oregon Public Employees Retirement Fund lifted its stake in shares of Royal Gold by 8,465.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,209,941 shares of the basic materials company’s stock worth $26,000 after acquiring an additional 2,184,139 shares during the period. Cordasco Financial Network lifted its stake in shares of Royal Gold by 72.4% in the 1st quarter. Cordasco Financial Network now owns 293 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 123 shares during the period. Rockefeller Capital Management L.P. bought a new stake in shares of Royal Gold in the 1st quarter worth approximately $27,000. JOYN Advisors Inc. raised its holdings in shares of Royal Gold by 105.4% in the 4th quarter. JOYN Advisors Inc. now owns 341 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 175 shares in the last quarter. Finally, St. Johns Investment Management Company LLC bought a new stake in shares of Royal Gold in the 4th quarter worth approximately $51,000. 77.89% of the stock is owned by institutional investors.

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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Analyst Recommendations for Royal Gold (NASDAQ:RGLD)

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