Royal Gold (NASDAQ:RGLD) Stock Rating Upgraded by StockNews.com

Royal Gold (NASDAQ:RGLD) (TSE:RGL) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Tuesday.

RGLD has been the subject of a number of other research reports. Scotiabank boosted their price objective on shares of Royal Gold from $148.00 to $157.00 and gave the company a “sector perform” rating in a report on Monday, August 19th. CIBC increased their target price on Royal Gold from $166.00 to $175.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 10th. Raymond James increased their price objective on shares of Royal Gold from $167.00 to $170.00 and gave the stock an “outperformer” rating in a research report on Friday, August 9th. Cibc World Mkts raised shares of Royal Gold to a “hold” rating in a research note on Wednesday, July 10th. Finally, Bank of America lifted 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. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Royal Gold currently has a consensus rating of “Hold” and an average price target of $157.00.

Royal Gold Stock Performance

Royal Gold stock opened at $136.70 on Tuesday. Royal Gold has a 52 week low of $100.55 and a 52 week high of $142.77. The firm has a market cap of $8.99 billion, a P/E ratio of 40.32, a P/E/G ratio of 1.13 and a beta of 0.90. The business’s fifty day moving average is $134.92 and its two-hundred day moving average is $125.28.

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

Insider Buying and Selling

In related news, Director Ronald J. Vance sold 1,000 shares of Royal Gold stock in a transaction on Monday, August 12th. The shares were sold at an average price of $132.16, for a total transaction of $132,160.00. Following the completion of the transaction, the director now owns 9,109 shares of the company’s stock, valued at $1,203,845.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Ronald J. Vance sold 1,000 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $132.16, for a total transaction of $132,160.00. Following the completion of the sale, the director now owns 9,109 shares in the company, valued at $1,203,845.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ronald J. Vance sold 415 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $140.85, for a total transaction of $58,452.75. Following the transaction, the director now directly owns 8,194 shares in the company, valued at $1,154,124.90. The disclosure for this sale can be found here. Insiders sold a total of 7,515 shares of company stock valued at $1,049,834 in the last three months. Insiders own 0.52% of the company’s stock.

Institutional Investors Weigh In On Royal Gold

Large investors have recently modified their holdings of the stock. Capital World Investors lifted its holdings in shares of Royal Gold by 0.6% in the fourth quarter. Capital World Investors now owns 8,169,223 shares of the basic materials company’s stock worth $988,149,000 after buying an additional 47,807 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Royal Gold by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 6,664,975 shares of the basic materials company’s stock valued at $811,861,000 after acquiring an additional 21,407 shares in the last quarter. Van ECK Associates Corp boosted its position in shares of Royal Gold by 6.8% during the 1st quarter. Van ECK Associates Corp now owns 4,595,734 shares of the basic materials company’s stock valued at $559,807,000 after acquiring an additional 292,357 shares during the last quarter. First Eagle Investment Management LLC raised its stake in Royal Gold by 1.0% in the fourth quarter. First Eagle Investment Management LLC now owns 3,667,169 shares of the basic materials company’s stock valued at $443,581,000 after purchasing an additional 37,885 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted 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 valued at $104,507,000 after purchasing an additional 212,316 shares during the last quarter. 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.