Royal Gold (NASDAQ:RGLD) Rating Increased to Hold at Cibc World Mkts

Cibc World Mkts upgraded shares of Royal Gold (NASDAQ:RGLD) (TSE:RGL) to a hold rating in a research note published on Wednesday, Zacks.com reports.

Other equities analysts have also issued research reports about the company. Bank of America upped their price target on Royal Gold from $129.00 to $131.00 and gave the company an underperform rating in a research note on Wednesday, June 26th. Scotiabank upped their price target on Royal Gold from $144.00 to $148.00 and gave the company a sector perform rating in a research note on Thursday, May 23rd. BMO Capital Markets upped 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. Finally, CIBC upped their price target on Royal Gold from $166.00 to $175.00 and gave the company a neutral rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Royal Gold presently has an average rating of Hold and an average target price of $152.75.

Royal Gold Stock Performance

NASDAQ RGLD opened at $136.23 on Wednesday. The stock’s fifty day moving average is $127.36 and its two-hundred day moving average is $119.98. The firm has a market capitalization of $8.95 billion, a P/E ratio of 40.19, a price-to-earnings-growth ratio of 1.10 and a beta of 0.87. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.35 and a current ratio of 2.50. Royal Gold has a fifty-two week low of $100.55 and a fifty-two week high of $136.59.

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

Royal Gold Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 19th. Shareholders of record on Friday, July 5th will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, July 5th. This represents a $1.60 annualized dividend and a yield of 1.17%. Royal Gold’s dividend payout ratio (DPR) is 47.20%.

Insiders Place Their Bets

In other Royal Gold news, SVP Daniel Breeze sold 1,500 shares of the company’s stock in a transaction dated 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 owns 14,840 shares in the company, valued at approximately $1,940,033.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.52% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. QRG Capital Management Inc. boosted its position in shares of Royal Gold by 6.3% in the 2nd quarter. QRG Capital Management Inc. now owns 2,591 shares of the basic materials company’s stock valued at $324,000 after purchasing an additional 154 shares during the period. BDF Gestion acquired a new stake in shares of Royal Gold in the 2nd quarter valued at about $1,831,000. CWM LLC boosted its position in shares of Royal Gold by 60.8% in the 2nd quarter. CWM LLC now owns 6,147 shares of the basic materials company’s stock valued at $769,000 after purchasing an additional 2,324 shares during the period. Mather Group LLC. acquired a new stake in shares of Royal Gold in the 2nd quarter valued at about $62,000. Finally, GAMMA Investing LLC boosted its position in shares of Royal Gold by 21.9% in the 2nd quarter. GAMMA Investing LLC now owns 1,929 shares of the basic materials company’s stock valued at $241,000 after purchasing an additional 347 shares during the period. Hedge funds and other institutional investors 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.