Royal Gold (NASDAQ:RGLD) Stock Rating Upgraded by BMO Capital Markets

Royal Gold (NASDAQ:RGLD) (TSE:RGL) was upgraded by investment analysts at BMO Capital Markets from a “hold” rating to an “outperform” rating in a note issued to investors on Tuesday, MarketBeat Ratings reports.

A number of other equities research analysts have also recently weighed in on RGLD. Bank of America lifted their price target on shares of Royal Gold from $193.00 to $203.00 and gave the company an “underperform” rating in a research report on Thursday, October 16th. Wall Street Zen raised shares of Royal Gold from a “hold” rating to a “buy” rating in a research note on Saturday, August 30th. 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. CIBC raised their price objective on shares of Royal Gold from $225.00 to $250.00 and gave the company a “neutral” rating in a research note on Friday, October 10th. Finally, Raymond James Financial set a $257.00 price objective on shares of Royal Gold and gave the company an “outperform” rating in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $214.11.

Royal Gold Trading Down 0.6%

Royal Gold stock opened at $183.58 on Tuesday. Royal Gold has a 12-month low of $130.67 and a 12-month high of $209.42. The stock has a market cap of $12.09 billion, a P/E ratio of 26.92, a PEG ratio of 1.04 and a beta of 0.41. The company has a 50-day moving average price of $188.09 and a 200 day moving average price of $177.75.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last released its quarterly earnings data on Wednesday, August 6th. The basic materials company reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.11. Royal Gold had a net margin of 56.24% and a return on equity of 13.30%. The firm had revenue of $209.64 million during the quarter, compared to analysts’ expectations of $186.63 million. During the same period last year, the business earned $1.25 earnings per share. Royal Gold’s revenue was up 20.4% compared to the same quarter last year. As a group, analysts forecast that Royal Gold will post 6.2 EPS for the current year.

Institutional Investors Weigh In On Royal Gold

Several institutional investors have recently made changes to their positions in RGLD. GAMMA Investing LLC boosted its position in shares of Royal Gold by 9.0% during the 1st quarter. GAMMA Investing LLC now owns 2,798 shares of the basic materials company’s stock worth $458,000 after purchasing an additional 231 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Royal Gold by 61.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 29,963 shares of the basic materials company’s stock valued at $4,899,000 after acquiring an additional 11,435 shares during the last quarter. Janney Montgomery Scott LLC increased its position in Royal Gold by 44.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 17,725 shares of the basic materials company’s stock worth $2,898,000 after purchasing an additional 5,496 shares in the last quarter. State of Alaska Department of Revenue increased its position in Royal Gold by 2.7% during the 1st quarter. State of Alaska Department of Revenue now owns 7,706 shares of the basic materials company’s stock worth $1,260,000 after purchasing an additional 205 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. grew its position in Royal Gold by 8.0% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 27,196 shares of the basic materials company’s stock valued at $4,447,000 after acquiring an additional 2,015 shares in the last quarter. 83.65% of the stock is currently owned by hedge funds and other institutional investors.

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.