Royal Gold (NASDAQ:RGLD) Stock Rating Lowered by Wall Street Zen

Key Points

• Royal Gold has been downgraded from a "buy" rating to a "hold" rating by Wall Street Zen, indicating analysts' revised outlook on the stock.
• Despite the downgrade, the stock has received a consensus rating of "Moderate Buy" with an average price target of $198.63, reflecting varied analyst perspectives.
• Royal Gold reported a quarterly earnings per share (EPS) of $1.81, exceeding expectations and showing a 20.4% increase in revenue year-over-year.

Royal Gold (NASDAQ:RGLD - Get Free Report) TSE: RGL was downgraded by stock analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Saturday.

A number of other equities analysts have also commented on the company. CIBC boosted their price objective on Royal Gold from $202.00 to $215.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. BMO Capital Markets set a $197.00 price objective on Royal Gold and gave the stock a "market perform" rating in a research note on Thursday, May 22nd. Canaccord Genuity Group boosted their price objective on Royal Gold from $202.00 to $203.00 in a research note on Wednesday, June 11th. Finally, TD Securities reissued a "buy" rating and issued a $237.00 price objective (up previously from $229.00) on shares of Royal Gold in a research note on Friday, August 8th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $198.63.

Royal Gold Price Performance

Shares of NASDAQ:RGLD opened at $171.45 on Friday. The business's fifty day moving average price is $167.55 and its two-hundred day moving average price is $165.42. Royal Gold has a fifty-two week low of $130.67 and a fifty-two week high of $191.78. The stock has a market capitalization of $11.29 billion, a price-to-earnings ratio of 25.14, a price-to-earnings-growth ratio of 1.20 and a beta of 0.40.

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

Hedge Funds Weigh In On Royal Gold

Large investors have recently made changes to their positions in the company. WPG Advisers LLC acquired a new position in shares of Royal Gold during the first quarter valued at $27,000. Cullen Frost Bankers Inc. increased its holdings in Royal Gold by 548.1% in the second quarter. Cullen Frost Bankers Inc. now owns 175 shares of the basic materials company's stock valued at $31,000 after purchasing an additional 148 shares during the last quarter. Alpine Bank Wealth Management bought a new stake in Royal Gold in the first quarter valued at about $32,000. Blue Trust Inc. increased its holdings in Royal Gold by 56.8% in the second quarter. Blue Trust Inc. now owns 196 shares of the basic materials company's stock valued at $35,000 after purchasing an additional 71 shares during the last quarter. Finally, Banque Cantonale Vaudoise bought a new stake in Royal Gold in the first quarter valued at about $34,000. Institutional investors and hedge funds 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.

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