Desjardins Downgrades Royal Gold (RGLD) to Hold

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Desjardins lowered shares of Royal Gold (NASDAQ:RGLD) (TSE:RGL) from a buy rating to a hold rating in a research report released on Friday, Benzinga’s Daily Ratings Newsletter reports.

A number of other research analysts have also issued reports on the company. B. Riley raised Royal Gold from a neutral rating to a buy rating and boosted their target price for the company from $86.00 to $100.00 in a report on Monday, April 1st. BidaskClub lowered Royal Gold from a buy rating to a hold rating in a report on Saturday, March 30th. BMO Capital Markets lowered Royal Gold from an outperform rating to a market perform rating in a report on Wednesday, March 27th. TD Securities boosted their target price on Royal Gold from $94.00 to $98.00 and gave the company a hold rating in a report on Tuesday, February 26th. Finally, Raymond James reissued an outperform rating and issued a $95.00 target price on shares of Royal Gold in a report on Friday, February 8th. Seven research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Royal Gold presently has an average rating of Buy and an average price target of $94.61.

Shares of NASDAQ RGLD opened at $92.56 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 5.48 and a quick ratio of 5.27. Royal Gold has a twelve month low of $70.16 and a twelve month high of $98.53. The company has a market capitalization of $6.06 billion, a price-to-earnings ratio of 52.59, a PEG ratio of 6.01 and a beta of 0.14.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last issued its quarterly earnings data on Wednesday, February 6th. The basic materials company reported $0.36 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.01. Royal Gold had a positive return on equity of 4.56% and a negative net margin of 20.57%. The company had revenue of $97.60 million during the quarter, compared to analysts’ expectations of $100.80 million. During the same quarter in the previous year, the business earned $0.41 earnings per share. The firm’s revenue for the quarter was down 14.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Royal Gold will post 1.54 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, April 19th. Stockholders of record on Friday, April 5th will be issued a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date of this dividend is Thursday, April 4th. Royal Gold’s payout ratio is currently 60.23%.

Large investors have recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund grew its holdings in 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 acquiring an additional 2,184,139 shares during the period. Norges Bank acquired a new position in Royal Gold during the fourth quarter worth $82,113,000. Van ECK Associates Corp grew its holdings 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. Clearbridge Investments LLC grew its holdings in Royal Gold by 52,558.9% during the third quarter. Clearbridge Investments LLC now owns 582,934 shares of the basic materials company’s stock worth $44,921,000 after acquiring an additional 581,827 shares during the period. Finally, Deutsche Bank AG grew its holdings 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. 78.55% 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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