StockNews.com Upgrades Royal Gold (NASDAQ:RGLD) to Buy

Royal Gold (NASDAQ:RGLD) (TSE:RGL) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday.

RGLD has been the subject of several other reports. BMO Capital Markets raised their target price on shares of Royal Gold from $168.00 to $170.00 and gave the company an “outperform” rating in a research note on Wednesday, July 10th. CIBC upped their target price on Royal Gold from $166.00 to $175.00 and gave the company a “neutral” rating in a research report on Wednesday, July 10th. Raymond James raised their price target on Royal Gold from $167.00 to $170.00 and gave the stock an “outperformer” rating in a report on Friday, August 9th. Scotiabank boosted their price target on Royal Gold from $148.00 to $157.00 and gave the stock a “sector perform” rating in a research note on Monday, August 19th. Finally, Bank of America increased their price objective on shares of Royal Gold from $129.00 to $131.00 and gave the company an “underperform” rating in a research report on Wednesday, June 26th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $157.00.

Royal Gold Trading Down 0.8 %

RGLD opened at $140.17 on Tuesday. The firm has a market cap of $9.21 billion, a price-to-earnings ratio of 41.35, a PEG ratio of 1.13 and a beta of 0.87. Royal Gold has a 12 month low of $100.55 and a 12 month high of $142.77. The stock has a fifty day moving average price of $134.45 and a 200-day moving average price of $125.01.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last announced its earnings results on Wednesday, August 7th. The basic materials company reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.07. Royal Gold had a net margin of 39.15% and a return on equity of 8.74%. The business had revenue of $174.10 million during the quarter, compared to the consensus estimate of $172.12 million. During the same period in the previous year, the company posted $0.88 earnings per share. The firm’s revenue was up 20.9% on a year-over-year basis. On average, equities research analysts forecast that Royal Gold will post 4.7 EPS for the current year.

Insider Activity at Royal Gold

In other Royal Gold news, CFO Paul Libner sold 1,500 shares of Royal Gold stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $142.53, for a total transaction of $213,795.00. Following the completion of the transaction, the chief financial officer now owns 18,657 shares in the company, valued at approximately $2,659,182.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Paul Libner sold 1,500 shares of Royal Gold stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $142.53, for a total transaction of $213,795.00. Following the completion of the transaction, the chief financial officer now directly owns 18,657 shares of the company’s stock, valued at approximately $2,659,182.21. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Randy Shefman sold 4,600 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $140.31, for a total transaction of $645,426.00. Following the sale, the senior vice president now directly owns 7,430 shares in the company, valued at $1,042,503.30. The disclosure for this sale can be found here. Insiders sold 7,515 shares of company stock worth $1,049,834 over the last three months. Company insiders own 0.52% of the company’s stock.

Hedge Funds Weigh In On Royal Gold

Several institutional investors and hedge funds have recently modified their holdings of RGLD. Price T Rowe Associates Inc. MD grew its holdings in Royal Gold by 224.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 609,760 shares of the basic materials company’s stock valued at $74,276,000 after purchasing an additional 422,026 shares during the period. Van ECK Associates Corp increased its holdings in Royal Gold by 6.8% in the 1st quarter. Van ECK Associates Corp now owns 4,595,734 shares of the basic materials company’s stock worth $559,807,000 after acquiring an additional 292,357 shares in the last quarter. Norges Bank purchased a new stake in Royal Gold in the 4th quarter worth $33,696,000. Bank of New York Mellon Corp raised its position in Royal Gold by 34.1% during the second quarter. Bank of New York Mellon Corp now owns 834,986 shares of the basic materials company’s stock worth $104,507,000 after acquiring an additional 212,316 shares during the period. Finally, Global Assets Advisory LLC purchased a new position in Royal Gold during the first quarter valued at $20,675,000. Hedge funds and other institutional investors own 83.65% of the company’s stock.

About Royal Gold

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.