Royal Gold (NASDAQ:RGLD) Upgraded to Hold by Cibc World Mkts

Royal Gold (NASDAQ:RGLD) (TSE:RGL) was upgraded by investment analysts at Cibc World Mkts to a “hold” rating in a research note issued on Wednesday, Zacks.com reports.

Other equities research analysts also recently issued research reports about the company. CIBC raised their price target on Royal Gold from $166.00 to $175.00 and gave the company a “neutral” rating in a report on Wednesday. BMO Capital Markets raised their target price on shares of Royal Gold from $168.00 to $170.00 and gave the stock an “outperform” rating in a research note on Wednesday. Scotiabank upped their price target on shares of Royal Gold from $144.00 to $148.00 and gave the company a “sector perform” rating in a research note on Thursday, May 23rd. Finally, Bank of America raised their price objective on shares of Royal Gold from $129.00 to $131.00 and gave the stock an “underperform” rating in a research report on Wednesday, June 26th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $149.75.

Royal Gold Trading Up 2.1 %

Shares of Royal Gold stock opened at $135.89 on Wednesday. The stock has a market cap of $8.93 billion, a P/E ratio of 40.09, a P/E/G ratio of 1.10 and a beta of 0.87. The company has a quick ratio of 2.35, a current ratio of 2.50 and a debt-to-equity ratio of 0.05. Royal Gold has a 12-month low of $100.55 and a 12-month high of $136.45. The business’s 50 day moving average is $127.09 and its 200-day moving average is $119.88.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last announced its quarterly earnings data on Wednesday, May 8th. The basic materials company reported $0.91 EPS for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.04). Royal Gold had a net margin of 38.12% and a return on equity of 7.96%. The firm had revenue of $148.90 million during the quarter, compared to the consensus estimate of $147.02 million. During the same period last year, the business earned $0.96 EPS. The business’s revenue was down 12.6% on a year-over-year basis. Equities research analysts predict that Royal Gold will post 4.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Royal Gold

In other news, SVP Daniel Breeze sold 1,500 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $130.73, for a total transaction of $196,095.00. Following the sale, the senior vice president now directly owns 14,840 shares of the company’s stock, valued at approximately $1,940,033.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.52% of the company’s stock.

Institutional Investors Weigh In On Royal Gold

A number of large investors have recently bought and sold shares of RGLD. BDF Gestion bought a new stake in shares of Royal Gold in the 2nd quarter valued at about $1,831,000. CWM LLC raised its holdings in Royal Gold by 60.8% during the 2nd quarter. CWM LLC now owns 6,147 shares of the basic materials company’s stock worth $769,000 after purchasing an additional 2,324 shares during the last quarter. Mather Group LLC. bought a new stake in shares of Royal Gold in the 2nd quarter valued at $62,000. GAMMA Investing LLC increased its position in shares of Royal Gold by 21.9% during the second quarter. GAMMA Investing LLC now owns 1,929 shares of the basic materials company’s stock worth $241,000 after buying an additional 347 shares during the period. Finally, Confluence Investment Management LLC lifted its holdings in Royal Gold by 4.4% in the second quarter. Confluence Investment Management LLC now owns 4,468 shares of the basic materials company’s stock valued at $559,000 after buying an additional 187 shares during the period. 83.65% 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. The company engages in acquiring stream and royalty interests or to finance projects that are in production, development, or in the exploration stage in exchange for stream or royalty interests, which primarily consists of gold, silver, copper, nickel, zinc, lead, and other metals.