Royal Gold (NASDAQ:RGLD) Cut to “Hold” at Canaccord Genuity

Canaccord Genuity downgraded shares of Royal Gold (NASDAQ:RGLD) (TSE:RGL) from a buy rating to a hold rating in a report published on Wednesday, Benzinga reports. Canaccord Genuity currently has $98.00 price target on the basic materials company’s stock.

Other analysts also recently issued reports about the company. TheStreet upgraded Royal Gold from a c+ rating to a b- rating in a research report on Friday, June 7th. Zacks Investment Research upgraded Royal Gold from a hold rating to a buy rating and set a $101.00 price target for the company in a research report on Monday, June 3rd. B. Riley upgraded Royal Gold from a neutral rating to a buy rating and raised their price target for the stock from $86.00 to $100.00 in a research report on Monday, April 1st. ValuEngine upgraded Royal Gold from a hold rating to a buy rating in a research report on Monday, June 3rd. Finally, Desjardins downgraded Royal Gold from a buy rating to a hold rating in a research report on Friday, April 12th. Eight research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of Hold and a consensus target price of $95.55.

Shares of RGLD opened at $99.11 on Wednesday. The firm has a market capitalization of $6.54 billion, a P/E ratio of 56.31, a P/E/G ratio of 6.54 and a beta of 0.12. Royal Gold has a 52-week low of $70.16 and a 52-week high of $101.29. The company has a quick ratio of 5.13, a current ratio of 5.39 and a debt-to-equity ratio of 0.17.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last issued its quarterly 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 company had revenue of $109.80 million during the quarter, compared to the consensus estimate of $115.32 million. Royal Gold had a return on equity of 4.36% and a net margin of 22.19%. The firm’s quarterly revenue was down 5.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.48 earnings per share. On average, sell-side analysts anticipate that Royal Gold will post 1.53 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 19th. Stockholders of record on Friday, July 5th will be given a dividend of $0.265 per share. The ex-dividend date is Wednesday, July 3rd. This represents a $1.06 annualized dividend and a dividend yield of 1.07%. Royal Gold’s dividend payout ratio (DPR) is 60.23%.

In other news, VP Bruce Christopher Kirchhoff sold 5,265 shares of Royal Gold stock in a transaction on Friday, June 7th. The stock was sold at an average price of $94.14, for a total transaction of $495,647.10. Following the completion of the sale, the vice president now directly owns 50,348 shares in the company, valued at $4,739,760.72. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Ronald J. Vance sold 1,930 shares of the firm’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $94.77, for a total value of $182,906.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 87,423 shares of company stock valued at $8,138,746. Corporate insiders own 0.95% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. First Trust Advisors LP purchased a new position in Royal Gold in the first quarter valued at about $3,676,000. Advisory Services Network LLC boosted its holdings in Royal Gold by 0.9% in the first quarter. Advisory Services Network LLC now owns 25,243 shares of the basic materials company’s stock worth $2,295,000 after acquiring an additional 222 shares in the last quarter. Clearbridge Investments LLC boosted its holdings in Royal Gold by 12.7% in the first quarter. Clearbridge Investments LLC now owns 764,539 shares of the basic materials company’s stock worth $69,520,000 after acquiring an additional 86,116 shares in the last quarter. Summit Global Investments acquired a new stake in Royal Gold in the first quarter worth about $6,264,000. Finally, Moerus Capital Management LLC boosted its holdings in Royal Gold by 1.2% in the first quarter. Moerus Capital Management LLC now owns 12,216 shares of the basic materials company’s stock worth $1,111,000 after acquiring an additional 150 shares in the last quarter. Hedge funds and other institutional investors own 79.24% 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. 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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