TD Securities Downgrades Royal Gold (RGLD) to Hold

Royal Gold (NASDAQ:RGLD) (TSE:RGL) was downgraded by equities researchers at TD Securities from a “buy” rating to a “hold” rating in a report released on Friday, MarketBeat Ratings reports. They presently have a $88.00 price objective on the basic materials company’s stock, down from their prior price objective of $97.00. TD Securities’ price target indicates a potential upside of 14.64% from the company’s previous close.

Several other research analysts have also weighed in on the stock. Raymond James set a $94.00 price objective on shares of Royal Gold and gave the stock a “buy” rating in a research note on Thursday. BidaskClub upgraded shares of Royal Gold from a “strong sell” rating to a “sell” rating in a research note on Wednesday. Zacks Investment Research lowered shares of Royal Gold from a “hold” rating to a “strong sell” rating in a research note on Friday, October 26th. Barclays assumed coverage on shares of Royal Gold in a research note on Wednesday, October 10th. They set an “equal weight” rating and a $78.00 price objective on the stock. Finally, ValuEngine upgraded shares of Royal Gold from a “sell” rating to a “hold” rating in a research note on Tuesday, October 2nd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. Royal Gold presently has a consensus rating of “Hold” and an average target price of $95.95.

Shares of NASDAQ:RGLD opened at $76.76 on Friday. The company has a current ratio of 4.27, a quick ratio of 2.27 and a debt-to-equity ratio of 0.17. Royal Gold has a one year low of $71.91 and a one year high of $98.53. The stock has a market cap of $5.03 billion, a price-to-earnings ratio of 43.61, a price-to-earnings-growth ratio of 4.56 and a beta of 0.43.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last released its quarterly earnings data on Wednesday, October 31st. The basic materials company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.14). The firm had revenue of $100.00 million for the quarter, compared to analyst estimates of $98.88 million. Royal Gold had a positive return on equity of 4.66% and a negative net margin of 28.39%. The firm’s revenue for the quarter was down 11.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.44 earnings per share. As a group, equities analysts forecast that Royal Gold will post 1.69 EPS for the current fiscal year.

In related news, Director Sybil E. Veenman purchased 500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 26th. The shares were acquired at an average price of $78.11 per share, for a total transaction of $39,055.00. Following the purchase, the director now owns 2,515 shares in the company, valued at $196,446.65. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jamie C. Sokalsky purchased 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 15th. The stock was bought at an average price of $77.25 per share, for a total transaction of $154,500.00. Following the purchase, the director now owns 9,200 shares in the company, valued at approximately $710,700. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 4,500 shares of company stock worth $347,915. 0.95% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Amalgamated Bank grew its stake in Royal Gold by 4.4% in the 2nd quarter. Amalgamated Bank now owns 14,205 shares of the basic materials company’s stock valued at $1,319,000 after buying an additional 600 shares during the last quarter. Belpointe Asset Management LLC grew its stake in Royal Gold by 14.6% in the 2nd quarter. Belpointe Asset Management LLC now owns 4,738 shares of the basic materials company’s stock valued at $440,000 after buying an additional 605 shares during the last quarter. Violich Capital Management Inc. grew its stake in Royal Gold by 14.1% in the 2nd quarter. Violich Capital Management Inc. now owns 5,505 shares of the basic materials company’s stock valued at $511,000 after buying an additional 680 shares during the last quarter. Oregon Public Employees Retirement Fund grew its stake in Royal Gold by 3.0% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 25,252 shares of the basic materials company’s stock valued at $2,344,000 after buying an additional 736 shares during the last quarter. Finally, Squar Milner Financial Services LLC grew its stake in Royal Gold by 41.6% in the 3rd quarter. Squar Milner Financial Services LLC now owns 2,696 shares of the basic materials company’s stock valued at $208,000 after buying an additional 792 shares during the last quarter. Institutional investors and hedge funds own 75.15% of the company’s stock.

Royal Gold Company Profile

Royal Gold, Inc engages in the acquisition and management of metal streams, royalties, and similar interests. It operates through the Acquisition and Management of Stream Interests and Acquisition and Management of Royalty Interests segments. The Acquisition and Management of Stream Interests segment involves in the purchase agreement that provides, in exchange for an upfront deposit payment, the right to purchase all or a portion of one or more metals.

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Analyst Recommendations for Royal Gold (NASDAQ:RGLD)

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