StockNews.com Upgrades Royal Gold (NASDAQ:RGLD) to Buy

Royal Gold (NASDAQ:RGLD) (TSE:RGL) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a report released on Tuesday.

Several other equities analysts also recently issued reports on the company. Jefferies Financial Group boosted their price objective on Royal Gold from $130.00 to $141.00 and gave the stock a “hold” rating in a research report on Friday, July 12th. BMO Capital Markets increased their price target on Royal Gold from $168.00 to $170.00 and gave the company an “outperform” rating in a research note on Wednesday, July 10th. Bank of America boosted their target price on shares of Royal Gold from $129.00 to $131.00 and gave the stock an “underperform” rating in a report on Wednesday, June 26th. Cibc World Mkts raised Royal Gold to a “hold” rating in a research note on Wednesday, July 10th. Finally, Scotiabank upped their price target on shares of Royal Gold from $148.00 to $157.00 and gave the company a “sector perform” rating in a research report on Monday, August 19th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $157.00.

Royal Gold Stock Performance

RGLD opened at $136.70 on Tuesday. The company has a market capitalization of $8.99 billion, a P/E ratio of 40.32, a PEG ratio of 1.13 and a beta of 0.90. Royal Gold has a 1-year low of $100.55 and a 1-year high of $142.77. The company has a 50-day moving average of $134.92 and a 200-day moving average of $125.28.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last posted its quarterly earnings results on Wednesday, August 7th. The basic materials company reported $1.25 EPS for the quarter, beating the consensus estimate of $1.18 by $0.07. The business had revenue of $174.10 million during the quarter, compared to analyst estimates of $172.12 million. Royal Gold had a net margin of 39.15% and a return on equity of 8.74%. The company’s quarterly revenue was up 20.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.88 EPS. As a group, sell-side analysts expect that Royal Gold will post 4.7 earnings per share for the current fiscal year.

Insider Activity at Royal Gold

In other news, SVP Randy Shefman sold 4,600 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $140.31, for a total value of $645,426.00. Following the sale, the senior vice president now directly owns 7,430 shares of the company’s stock, valued at $1,042,503.30. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CFO Paul Libner sold 1,500 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $142.53, for a total transaction of $213,795.00. Following the completion of the transaction, the chief financial officer now owns 18,657 shares of the company’s stock, valued at $2,659,182.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Randy Shefman sold 4,600 shares of Royal Gold stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $140.31, for a total value of $645,426.00. Following the sale, the senior vice president now directly owns 7,430 shares in the company, valued at $1,042,503.30. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,515 shares of company stock valued at $1,049,834. Insiders own 0.52% of the company’s stock.

Institutional Trading of Royal Gold

Several institutional investors have recently modified their holdings of RGLD. Capital World Investors lifted its position in Royal Gold by 0.6% in the fourth quarter. Capital World Investors now owns 8,169,223 shares of the basic materials company’s stock worth $988,149,000 after purchasing an additional 47,807 shares during the period. Vanguard Group Inc. boosted its holdings in Royal Gold by 0.3% during the first quarter. Vanguard Group Inc. now owns 6,664,975 shares of the basic materials company’s stock valued at $811,861,000 after purchasing an additional 21,407 shares in the last quarter. Van ECK Associates Corp boosted its holdings in Royal Gold by 6.8% during the first quarter. Van ECK Associates Corp now owns 4,595,734 shares of the basic materials company’s stock valued at $559,807,000 after purchasing an additional 292,357 shares in the last quarter. First Eagle Investment Management LLC raised its holdings in shares of Royal Gold by 1.0% in the 4th quarter. First Eagle Investment Management LLC now owns 3,667,169 shares of the basic materials company’s stock worth $443,581,000 after buying an additional 37,885 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Royal Gold by 34.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 834,986 shares of the basic materials company’s stock worth $104,507,000 after buying an additional 212,316 shares during the period. Institutional investors and hedge funds own 83.65% of the company’s stock.

Royal Gold Company Profile

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.