Royal Gold (RGLD) Downgraded by Royal Bank of Canada

Royal Bank of Canada lowered shares of Royal Gold (NASDAQ:RGLD) (TSE:RGL) from an outperform rating to a sector perform rating in a report released on Monday, BayStreet.CA reports. The brokerage currently has $100.00 price target on the basic materials company’s stock, down from their prior price target of $104.00. The analysts noted that the move was a valuation call.

RGLD has been the subject of a number of other reports. BidaskClub raised shares of Royal Gold from a hold rating to a buy rating in a research report on Thursday, February 7th. Desjardins cut shares of Royal Gold from a buy rating to a hold rating in a research report on Friday, April 12th. TD Securities upped their price objective on shares of Royal Gold from $92.00 to $94.00 and gave the company a hold rating in a research report on Monday, February 11th. Raymond James reissued an outperform rating and issued a $95.00 price objective on shares of Royal Gold in a research report on Friday, February 8th. Finally, Zacks Investment Research raised shares of Royal Gold from a hold rating to a strong-buy rating and set a $96.00 price target on the stock in a research report on Tuesday, January 15th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company. The stock has an average rating of Hold and an average price target of $95.75.

NASDAQ:RGLD opened at $84.16 on Monday. The company has a debt-to-equity ratio of 0.17, a current ratio of 5.39 and a quick ratio of 5.13. The stock has a market capitalization of $5.44 billion, a price-to-earnings ratio of 47.82, a PEG ratio of 5.45 and a beta of 0.11. Royal Gold has a 1-year low of $70.16 and a 1-year high of $98.53.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last posted its quarterly earnings data on Wednesday, May 1st. The basic materials company reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.01). The firm had revenue of $109.80 million during the quarter, compared to analysts’ expectations of $115.32 million. Royal Gold had a net margin of 22.19% and a return on equity of 4.36%. The business’s quarterly revenue was down 5.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.48 earnings per share. As a group, sell-side analysts expect that Royal Gold will post 1.53 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, April 19th. Stockholders of record on Friday, April 5th were given a dividend of $0.265 per share. The ex-dividend date was Thursday, April 4th. This represents a $1.06 annualized dividend and a dividend yield of 1.26%. Royal Gold’s payout ratio is 60.23%.

Several hedge funds have recently modified their holdings of RGLD. Oregon Public Employees Retirement Fund lifted its position in shares of Royal Gold by 8,465.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,209,941 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 2,184,139 shares during the last quarter. Norges Bank acquired a new stake in Royal Gold during the fourth quarter worth about $82,113,000. Van ECK Associates Corp raised its stake in Royal Gold by 20.9% during the fourth quarter. Van ECK Associates Corp now owns 4,811,625 shares of the basic materials company’s stock worth $412,116,000 after acquiring an additional 831,019 shares during the period. Deutsche Bank AG raised its stake in Royal Gold by 182.5% during 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 during the period. Finally, Jennison Associates LLC acquired a new stake in Royal Gold during the first quarter worth about $18,053,000. 78.52% of the stock is currently owned by institutional investors and hedge funds.

About Royal Gold

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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