Royal Gold (NASDAQ:RGLD) Cut to “Market Perform” at Raymond James

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Raymond James downgraded shares of Royal Gold (NASDAQ:RGLD) (TSE:RGL) from an outperform rating to a market perform rating in a research report sent to investors on Tuesday, BenzingaRatingsTable reports. Raymond James also issued estimates for Royal Gold’s Q4 2019 earnings at $0.45 EPS, FY2019 earnings at $1.48 EPS, Q1 2020 earnings at $0.56 EPS, Q2 2020 earnings at $0.61 EPS, Q3 2020 earnings at $0.65 EPS, Q4 2020 earnings at $0.65 EPS and FY2020 earnings at $2.47 EPS.

A number of other research analysts have also weighed in on the stock. BMO Capital Markets reissued an outperform rating and issued a C$11.00 target price on shares of Automotive Properties Real Est Invt TR in a research note on Wednesday, March 27th. Canaccord Genuity set a $52.00 target price on shares of Zillow Group and gave the company a hold rating in a report on Wednesday, June 19th. TheStreet lowered shares of Zimmer Biomet from a b- rating to a c rating in a research note on Friday, June 7th. Zacks Investment Research upgraded shares of Global Ship Lease from a hold rating to a strong-buy rating and set a $7.75 price target on the stock in a research note on Monday, June 3rd. Finally, Royal Bank of Canada boosted their price target on shares of NVIDIA to $200.00 and gave the stock an outperform rating in a research note on Monday, May 13th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $99.85.

Shares of RGLD opened at $117.50 on Tuesday. The stock’s 50-day moving average is $99.76. The firm has a market cap of $7.70 billion, a P/E ratio of 66.76, a P/E/G ratio of 5.27 and a beta of 0.21. The company has a debt-to-equity ratio of 0.17, a current ratio of 5.39 and a quick ratio of 5.13. Royal Gold has a fifty-two week low of $70.16 and a fifty-two week high of $117.80.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last posted its earnings results on Wednesday, May 1st. The basic materials company reported $0.44 EPS for the quarter, missing the Zacks’ consensus estimate of $0.45 by ($0.01). The business had revenue of $109.80 million for the quarter, compared to analyst estimates of $115.32 million. Royal Gold had a net margin of 22.19% and a return on equity of 4.36%. Royal Gold’s revenue was down 5.3% on a year-over-year basis. During the same quarter last year, the business earned $0.48 earnings per share. As a group, analysts predict that Royal Gold will post 1.51 earnings per share for the current fiscal year.

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 paid a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date of this dividend is Wednesday, July 3rd. Royal Gold’s dividend payout ratio is currently 60.23%.

In other Royal Gold news, VP Bruce Christopher Kirchhoff sold 9,471 shares of the stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $93.18, for a total transaction of $882,507.78. Following the transaction, the vice president now owns 50,348 shares of the company’s stock, valued at $4,691,426.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Ronald J. Vance sold 1,930 shares of the stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $94.77, for a total transaction of $182,906.10. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 87,423 shares of company stock worth $8,138,746. 0.95% of the stock is currently owned by insiders.

A number of large investors have recently bought and sold shares of RGLD. Norges Bank acquired a new stake in shares of Royal Gold in the fourth quarter worth $82,113,000. Deutsche Bank AG increased its position in shares of Royal Gold by 182.5% in the fourth quarter. Deutsche Bank AG now owns 442,460 shares of the basic materials company’s stock worth $37,895,000 after acquiring an additional 285,839 shares in the last quarter. Jennison Associates LLC acquired a new stake in shares of Royal Gold in the first quarter worth $18,053,000. Martingale Asset Management L P increased its position in shares of Royal Gold by 91.6% in the first quarter. Martingale Asset Management L P now owns 367,439 shares of the basic materials company’s stock worth $33,413,000 after acquiring an additional 175,624 shares in the last quarter. Finally, Global Strategic Management Inc. acquired a new stake in shares of Royal Gold in the fourth quarter worth $10,203,000. 79.23% of the stock is currently owned by institutional investors.

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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