Royal Gold (RGLD) Downgraded by TD Securities

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TD Securities cut shares of Royal Gold (NASDAQ:RGLD) (TSE:RGL) from a buy rating to a hold rating in a research note issued to investors on Friday, MarketBeat.com reports. They currently have $88.00 price target on the basic materials company’s stock, down from their prior price target of $97.00.

Several other brokerages have also issued reports on RGLD. Zacks Investment Research upgraded shares of Royal Gold from a hold rating to a buy rating and set a $104.00 target price for the company in a research report on Monday, July 9th. BidaskClub lowered shares of Royal Gold from a hold rating to a sell rating in a research report on Thursday, July 12th. Desjardins reiterated a buy rating and issued a $100.00 target price on shares of Royal Gold in a research report on Wednesday, July 18th. National Bank Financial cut their target price on shares of Royal Gold from $102.50 to $97.50 and set a sector perform rating for the company in a research report on Saturday, July 14th. Finally, Canaccord Genuity set a $102.00 target price on shares of Royal Gold and gave the stock a buy rating in a research report on Tuesday, July 24th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company’s stock. Royal Gold currently has an average rating of Hold and an average price target of $95.95.

NASDAQ:RGLD traded down $1.02 during midday trading on Friday, hitting $75.74. The company had a trading volume of 10,527 shares, compared to its average volume of 573,948. Royal Gold has a 52-week low of $71.91 and a 52-week high of $98.53. The firm has a market capitalization of $5.03 billion, a PE ratio of 43.22, a price-to-earnings-growth ratio of 4.56 and a beta of 0.43. The company has a debt-to-equity ratio of 0.17, a quick ratio of 4.00 and a current ratio of 4.27.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last announced its earnings results on Wednesday, October 31st. The basic materials company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.14). Royal Gold had a positive return on equity of 4.66% and a negative net margin of 28.39%. The company had revenue of $100.00 million during the quarter, compared to analysts’ expectations of $98.88 million. During the same quarter last year, the firm posted $0.44 earnings per share. The firm’s revenue was down 11.1% on a year-over-year basis. On average, sell-side analysts forecast that Royal Gold will post 1.69 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, October 19th. Shareholders of record on Friday, October 5th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, October 4th. This represents a $1.00 annualized dividend and a yield of 1.32%. Royal Gold’s payout ratio is 56.82%.

In other news, Director Jamie C. Sokalsky bought 2,000 shares of the company’s stock in a transaction dated Wednesday, August 15th. The stock was bought at an average cost of $77.25 per share, for a total transaction of $154,500.00. Following the completion of the acquisition, the director now owns 9,200 shares in the company, valued at approximately $710,700. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Sybil E. Veenman bought 500 shares of the company’s stock in a transaction dated Wednesday, September 26th. The shares were purchased at an average price of $78.11 per share, with a total value of $39,055.00. Following the completion of the acquisition, the director now owns 2,515 shares of the company’s stock, valued at approximately $196,446.65. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 4,500 shares of company stock valued at $347,915. Company insiders own 0.95% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Amalgamated Bank boosted its holdings in shares of Royal Gold by 4.4% during the second quarter. Amalgamated Bank now owns 14,205 shares of the basic materials company’s stock worth $1,319,000 after purchasing an additional 600 shares during the period. Belpointe Asset Management LLC boosted its holdings in shares of Royal Gold by 14.6% during the second quarter. Belpointe Asset Management LLC now owns 4,738 shares of the basic materials company’s stock worth $440,000 after purchasing an additional 605 shares during the period. Violich Capital Management Inc. boosted its holdings in shares of Royal Gold by 14.1% during the second quarter. Violich Capital Management Inc. now owns 5,505 shares of the basic materials company’s stock worth $511,000 after purchasing an additional 680 shares during the period. Oregon Public Employees Retirement Fund boosted its holdings in shares of Royal Gold by 3.0% during the second quarter. Oregon Public Employees Retirement Fund now owns 25,252 shares of the basic materials company’s stock worth $2,344,000 after purchasing an additional 736 shares during the period. Finally, Squar Milner Financial Services LLC boosted its holdings in shares of Royal Gold by 41.6% during the third quarter. Squar Milner Financial Services LLC now owns 2,696 shares of the basic materials company’s stock worth $208,000 after purchasing an additional 792 shares during the period. Institutional investors own 75.43% of the company’s stock.

Royal Gold Company Profile

Royal Gold, Inc engages in the acquisition and management of metal streams, royalties, and similar interests. It operates through the Acquisition and Management of Stream Interests and Acquisition and Management of Royalty Interests segments. The Acquisition and Management of Stream Interests segment involves in the purchase agreement that provides, in exchange for an upfront deposit payment, the right to purchase all or a portion of one or more metals.

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Analyst Recommendations for Royal Gold (NASDAQ:RGLD)

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