Royal Gold (NASDAQ:RGLD) Stock Rating Lowered by Wall Street Zen

Royal Gold (NASDAQ:RGLD) (TSE:RGL) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

A number of other equities analysts have also commented on RGLD. CIBC raised their price objective on Royal Gold from $202.00 to $215.00 and gave the stock a “neutral” rating in a research note on Thursday, May 8th. Canaccord Genuity Group lifted their price target on Royal Gold from $202.00 to $203.00 in a research note on Wednesday, June 11th. TD Securities reiterated a “buy” rating and issued a $237.00 price target (up previously from $229.00) on shares of Royal Gold in a research note on Friday, August 8th. Finally, BMO Capital Markets set a $197.00 price target on Royal Gold and gave the company a “market perform” rating in a research note on Thursday, May 22nd. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Royal Gold currently has an average rating of “Moderate Buy” and a consensus target price of $198.63.

Royal Gold Price Performance

Royal Gold stock opened at $171.45 on Friday. The stock’s fifty day moving average price is $167.55 and its two-hundred day moving average price is $165.42. Royal Gold has a one year low of $130.67 and a one year high of $191.78. The firm has a market cap of $11.29 billion, a PE ratio of 25.14, a price-to-earnings-growth ratio of 1.20 and a beta of 0.40.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last posted its quarterly earnings data on Wednesday, August 6th. The basic materials company reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.11. Royal Gold had a return on equity of 13.30% and a net margin of 56.24%. The firm had revenue of $209.64 million for the quarter, compared to analyst estimates of $186.63 million. During the same quarter last year, the company earned $1.25 EPS. The company’s revenue was up 20.4% on a year-over-year basis. Sell-side analysts expect that Royal Gold will post 6.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Royal Gold

Several hedge funds have recently modified their holdings of the company. Ion Asset Management Ltd. acquired a new stake in shares of Royal Gold during the 2nd quarter valued at $729,000. Captrust Financial Advisors boosted its holdings in shares of Royal Gold by 14.4% during the 2nd quarter. Captrust Financial Advisors now owns 11,857 shares of the basic materials company’s stock valued at $2,109,000 after acquiring an additional 1,495 shares in the last quarter. Vident Advisory LLC boosted its holdings in shares of Royal Gold by 4.6% during the 2nd quarter. Vident Advisory LLC now owns 6,074 shares of the basic materials company’s stock valued at $1,080,000 after acquiring an additional 265 shares in the last quarter. Snowden Capital Advisors LLC acquired a new stake in shares of Royal Gold during the 2nd quarter valued at $325,000. Finally, Rafferty Asset Management LLC acquired a new stake in shares of Royal Gold during the 2nd quarter valued at $204,000. Institutional investors and hedge funds 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.