Royal Gold (NASDAQ:RGLD) Upgraded by Zacks Research to Strong-Buy Rating

Royal Gold (NASDAQ:RGLD) (TSE:RGL) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Monday,Zacks.com reports.

Other analysts have also issued research reports about the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Royal Gold in a research note on Wednesday, October 8th. BMO Capital Markets set a $240.00 target price on shares of Royal Gold and gave the company an “outperform” rating in a research note on Tuesday, October 21st. TD Cowen boosted their price target on shares of Royal Gold from $261.00 to $263.00 and gave the company a “buy” rating in a research report on Tuesday, November 18th. Bank of America upped their price target on Royal Gold from $193.00 to $203.00 and gave the stock an “underperform” rating in a research note on Thursday, October 16th. Finally, Wall Street Zen cut shares of Royal Gold from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Royal Gold currently has a consensus rating of “Moderate Buy” and an average target price of $234.60.

Royal Gold Trading Up 4.7%

Shares of RGLD opened at $277.70 on Monday. The stock has a market capitalization of $23.44 billion, a P/E ratio of 38.15, a PEG ratio of 0.71 and a beta of 0.49. Royal Gold has a twelve month low of $135.68 and a twelve month high of $277.89. The company has a quick ratio of 2.68, a current ratio of 2.89 and a debt-to-equity ratio of 0.23. The firm has a fifty day simple moving average of $219.08 and a two-hundred day simple moving average of $192.34.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last posted its earnings results on Wednesday, November 5th. The basic materials company reported $2.06 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.24). The firm had revenue of $250.23 million for the quarter, compared to analysts’ expectations of $275.11 million. Royal Gold had a return on equity of 14.14% and a net margin of 55.99%.The business’s revenue for the quarter was up 30.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.47 earnings per share. On average, research analysts anticipate that Royal Gold will post 6.2 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Savvy Advisors Inc. boosted its stake in shares of Royal Gold by 6.6% in the 4th quarter. Savvy Advisors Inc. now owns 2,022 shares of the basic materials company’s stock worth $449,000 after buying an additional 126 shares during the last quarter. Stratos Wealth Partners LTD. boosted its holdings in shares of Royal Gold by 50.9% in the fourth quarter. Stratos Wealth Partners LTD. now owns 3,037 shares of the basic materials company’s stock worth $675,000 after buying an additional 1,024 shares during the last quarter. Trust Co. of Toledo NA OH purchased a new stake in Royal Gold during the fourth quarter valued at approximately $30,000. Sheets Smith Wealth Management bought a new position in Royal Gold in the fourth quarter worth approximately $515,000. Finally, Thurston Springer Miller Herd & Titak Inc. raised its holdings in Royal Gold by 611.3% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,444 shares of the basic materials company’s stock worth $321,000 after purchasing an additional 1,241 shares during the period. Institutional investors own 83.65% of the company’s stock.

Royal Gold Company Profile

Royal Gold, Inc, headquartered in Denver, Colorado, is a leading precious metals streaming and royalty company. Through its business model, Royal Gold provides upfront financing to mining operators in exchange for the right to purchase a percentage of future metal production at predetermined prices. This structure allows the company to participate in production upside while minimizing exposure to the operating and capital-intensive aspects of mine ownership.

The company’s portfolio encompasses interests in over 200 streams and royalties on projects across North America, South America, Europe, Africa and Australia.