Royal Gold (RGLD) Raised to “Buy” at Zacks Investment Research

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Zacks Investment Research upgraded shares of Royal Gold (NASDAQ:RGLD) (TSE:RGL) from a hold rating to a buy rating in a research note issued to investors on Monday, Zacks.com reports. Zacks Investment Research currently has $99.00 price objective on the basic materials company’s stock.

According to Zacks, “Royal Gold has completed a preliminary economic assessment on the Peak Gold project, which in turn presents a robust open pit mining operation with attractive economics. The resolution of the Voisey’s Bay Royalty dispute gives Royal Gold the exposure to a world-class operating asset. The company has outperformed the industry over the past year. Royal Gold remains focused on allocating its strong cash flow to dividends, debt reduction and new business.”

Several other analysts have also recently commented on RGLD. B. Riley upgraded shares of 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 report on Monday, April 1st. BidaskClub upgraded shares of Royal Gold from a hold rating to a buy rating in a report on Thursday, February 7th. Desjardins cut shares of Royal Gold from a buy rating to a hold rating in a report on Friday, April 12th. TD Securities raised their price target on shares of Royal Gold from $94.00 to $98.00 and gave the stock a hold rating in a report on Tuesday, February 26th. Finally, ValuEngine cut shares of Royal Gold from a buy rating to a hold rating in a report on Wednesday, April 24th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. Royal Gold currently has an average rating of Hold and a consensus price target of $94.94.

Royal Gold stock opened at $81.60 on Monday. The company has a market capitalization of $5.53 billion, a PE ratio of 46.36, a PEG ratio of 5.53 and a beta of 0.11. The company has a current ratio of 5.48, a quick ratio of 5.27 and a debt-to-equity ratio of 0.17. Royal Gold has a fifty-two week low of $70.16 and a fifty-two week high of $98.53.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last released its earnings results on Wednesday, May 1st. The basic materials company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.01). The firm had revenue of $109.80 million during the quarter, compared to analysts’ expectations of $115.32 million. Royal Gold had a positive return on equity of 4.56% and a negative net margin of 20.57%. The business’s revenue was down 5.3% on a year-over-year basis. During the same period last year, the business earned $0.48 earnings per share. On average, equities research analysts predict that Royal Gold will post 1.58 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, April 19th. Investors of record on Friday, April 5th were issued a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a dividend yield of 1.30%. The ex-dividend date of this dividend was Thursday, April 4th. Royal Gold’s dividend payout ratio is currently 60.23%.

Several hedge funds have recently bought and sold shares of RGLD. Oregon Public Employees Retirement Fund boosted its holdings in shares of Royal Gold by 8,465.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,209,941 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 2,184,139 shares during the period. Norges Bank acquired a new stake in Royal Gold in the fourth quarter valued at approximately $82,113,000. Van ECK Associates Corp lifted its stake in Royal Gold by 20.9% in the fourth quarter. Van ECK Associates Corp now owns 4,811,625 shares of the basic materials company’s stock valued at $412,116,000 after acquiring an additional 831,019 shares during the last quarter. Clearbridge Investments LLC lifted its stake in Royal Gold by 52,558.9% in the third quarter. Clearbridge Investments LLC now owns 582,934 shares of the basic materials company’s stock valued at $44,921,000 after acquiring an additional 581,827 shares during the last quarter. Finally, Deutsche Bank AG lifted its stake in Royal Gold by 182.5% in the fourth quarter. Deutsche Bank AG now owns 442,460 shares of the basic materials company’s stock valued at $37,895,000 after acquiring an additional 285,839 shares during the last quarter. Institutional investors and hedge funds own 78.53% 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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