Royal Gold (NASDAQ:RGLD) Given Buy (B) Rating at Weiss Ratings

Key Points

• Royal Gold's stock has been given a buy rating by Weiss Ratings and several other analysts, indicating positive market sentiment.
• The company's stock opened at $205.23 and has seen significant price movement, with a 1-year low of $130.67 and a high of $205.90.
• Royal Gold reported earnings per share of $1.81, exceeding the consensus estimate and demonstrating a year-over-year revenue increase of 20.4% to $209.64 million.

Royal Gold (NASDAQ:RGLD - Get Free Report) TSE: RGL's stock had its "buy (b)" rating reiterated by analysts at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

Other analysts also recently issued research reports about the company. Canaccord Genuity Group lifted their target price on Royal Gold from $202.00 to $203.00 in a research note on Wednesday, June 11th. TD Securities reaffirmed a "buy" rating and set a $237.00 target price (up previously from $229.00) on shares of Royal Gold in a research note on Friday, August 8th. Wall Street Zen raised Royal Gold from a "hold" rating to a "buy" rating in a research note on Saturday, August 30th. Finally, Zacks Research downgraded Royal Gold from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 19th. Six analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $198.63.

Royal Gold Price Performance

Shares of Royal Gold stock opened at $205.23 on Wednesday. The business's fifty day moving average price is $181.69 and its two-hundred day moving average price is $175.44. The company has a market capitalization of $13.51 billion, a P/E ratio of 30.09, a PEG ratio of 1.57 and a beta of 0.41. Royal Gold has a 1-year low of $130.67 and a 1-year high of $205.90.

Royal Gold (NASDAQ:RGLD - Get Free Report) TSE: RGL last announced its earnings results on Wednesday, August 6th. The basic materials company reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.11. The firm had revenue of $209.64 million for the quarter, compared to the consensus estimate of $186.63 million. Royal Gold had a return on equity of 13.30% and a net margin of 56.24%.The firm's revenue for the quarter was up 20.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.25 EPS. On average, research analysts expect that Royal Gold will post 6.2 earnings per share for the current fiscal year.

Institutional Trading of Royal Gold

A number of hedge funds and other institutional investors have recently modified their holdings of the company. AQR Capital Management LLC raised its position in shares of Royal Gold by 68.8% during the first quarter. AQR Capital Management LLC now owns 1,682,911 shares of the basic materials company's stock worth $274,887,000 after purchasing an additional 685,857 shares during the period. Norges Bank acquired a new stake in shares of Royal Gold during the second quarter worth $68,029,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in shares of Royal Gold by 1,090.1% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 319,454 shares of the basic materials company's stock worth $56,811,000 after purchasing an additional 292,611 shares during the period. Arrowstreet Capital Limited Partnership raised its position in shares of Royal Gold by 52.3% during the second quarter. Arrowstreet Capital Limited Partnership now owns 833,181 shares of the basic materials company's stock worth $148,173,000 after purchasing an additional 286,268 shares during the period. Finally, Nomura Holdings Inc. acquired a new stake in shares of Royal Gold during the second quarter worth $45,184,000. Institutional investors own 83.65% of the company's stock.

Royal Gold Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.