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

Key Points

• Royal Gold was upgraded from a "hold" rating to a "buy" rating by Wall Street Zen, indicating positive sentiment among analysts.
• Multiple research firms have updated their target prices for Royal Gold, with TD Securities setting a target of $237.00, while the consensus target price among analysts is $198.63.
• Royal Gold reported earnings of $1.81 per share, exceeding estimates, with a revenue of $209.64 million for the recent quarter, marking a 20.4% increase from the previous year.

Royal Gold (NASDAQ:RGLD - Get Free Report) TSE: RGL was upgraded by equities researchers at Wall Street Zen from a "hold" rating to a "buy" rating in a note issued to investors on Saturday.

Several other research analysts have also recently weighed in on RGLD. TD Securities restated a "buy" rating and set a $237.00 target price (up from $229.00) on shares of Royal Gold in a report on Friday, August 8th. CIBC boosted their target price on Royal Gold from $202.00 to $215.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. Zacks Research cut Royal Gold from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 19th. BMO Capital Markets set a $197.00 target price on Royal Gold and gave the stock a "market perform" rating in a report on Thursday, May 22nd. Finally, Canaccord Genuity Group boosted their target price on Royal Gold from $202.00 to $203.00 in a report on Wednesday, June 11th. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Royal Gold has an average rating of "Moderate Buy" and a consensus target price of $198.63.

Royal Gold Trading Up 2.0%

RGLD stock opened at $179.58 on Friday. The stock has a market cap of $11.82 billion, a price-to-earnings ratio of 26.33, a PEG ratio of 1.29 and a beta of 0.40. The business's 50-day moving average is $166.78 and its 200 day moving average is $167.61. Royal Gold has a 12-month low of $130.67 and a 12-month high of $191.78.

Royal Gold (NASDAQ:RGLD - Get Free Report) TSE: RGL last issued its earnings results on Wednesday, August 6th. The basic materials company reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.11. The business had revenue of $209.64 million for the quarter, compared to analysts' expectations 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 for the quarter was up 20.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.25 EPS. As a group, equities analysts forecast that Royal Gold will post 6.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Orion Porfolio Solutions LLC lifted its holdings in Royal Gold by 78.1% in the second quarter. Orion Porfolio Solutions LLC now owns 5,253 shares of the basic materials company's stock valued at $934,000 after acquiring an additional 2,303 shares during the last quarter. Neuberger Berman Group LLC raised its position in Royal Gold by 1,124.0% in the second quarter. Neuberger Berman Group LLC now owns 109,863 shares of the basic materials company's stock valued at $19,512,000 after purchasing an additional 100,887 shares during the period. Advisory Services Network LLC raised its position in Royal Gold by 17.5% in the second quarter. Advisory Services Network LLC now owns 7,910 shares of the basic materials company's stock valued at $1,407,000 after purchasing an additional 1,178 shares during the period. Nomura Holdings Inc. purchased a new stake in Royal Gold in the second quarter valued at approximately $45,184,000. Finally, Geneos Wealth Management Inc. raised its position in Royal Gold by 32.4% in the second quarter. Geneos Wealth Management Inc. now owns 711 shares of the basic materials company's stock valued at $126,000 after purchasing an additional 174 shares during the period. 83.65% of the stock is currently owned by institutional investors and hedge funds.

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.