Royal Gold (RGLD) Coverage Initiated at Cantor Fitzgerald
Cantor Fitzgerald assumed coverage on shares of Royal Gold (NASDAQ:RGLD) (TSE:RGL) in a research note issued to investors on Thursday, January 4th, MarketBeat Ratings reports. The firm set a “buy” rating and a $105.00 price target on the basic materials company’s stock. Cantor Fitzgerald’s target price points to a potential upside of 20.55% from the company’s previous close.
Other equities analysts have also issued reports about the stock. Canaccord Genuity reaffirmed a “buy” rating and issued a $113.00 price objective on shares of Royal Gold in a research report on Sunday, October 1st. Royal Bank of Canada set a $89.00 price objective on shares of Royal Gold and gave the company a “buy” rating in a research report on Monday, October 23rd. BMO Capital Markets set a $105.00 price objective on shares of Royal Gold and gave the company a “buy” rating in a research report on Tuesday, November 14th. TheStreet raised shares of Royal Gold from a “c+” rating to a “b-” rating in a research report on Wednesday, November 8th. Finally, Zacks Investment Research raised shares of Royal Gold from a “hold” rating to a “strong-buy” rating and set a $94.00 price target for the company in a research report on Wednesday, December 6th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $94.63.
Royal Gold (RGLD) opened at $87.10 on Thursday. The company has a current ratio of 3.92, a quick ratio of 3.73 and a debt-to-equity ratio of 0.23. Royal Gold has a 1-year low of $61.00 and a 1-year high of $94.39. The stock has a market cap of $5,795.32, a PE ratio of 60.23, a price-to-earnings-growth ratio of 5.02 and a beta of 0.46.
In other Royal Gold news, CFO Stefan Wenger sold 1,500 shares of Royal Gold stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $85.00, for a total transaction of $127,500.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last ninety days, insiders have sold 4,500 shares of company stock worth $382,500. 1.12% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in RGLD. Almanack Investment Partners LLC. acquired a new stake in Royal Gold during the 2nd quarter worth $109,000. Mountain Capital Investment Advisors Inc acquired a new stake in Royal Gold during the 2nd quarter worth $109,000. Exane Derivatives boosted its stake in Royal Gold by 4,900.0% during the 4th quarter. Exane Derivatives now owns 1,500 shares of the basic materials company’s stock worth $123,000 after purchasing an additional 1,470 shares during the last quarter. KBC Group NV purchased a new position in shares of Royal Gold during the 2nd quarter worth $142,000. Finally, Quantbot Technologies LP purchased a new position in shares of Royal Gold during the 3rd quarter worth $174,000. 71.91% of the stock is currently owned by institutional investors.
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About Royal Gold
Royal Gold, Inc, together with its subsidiaries, is engaged in acquiring and managing precious metal streams, royalties and similar interests. The Company operates through two segments: Acquisition and Management of Stream Interests, and Acquisition and Management of Royalty Interests. Its assets are located in Canada, Chile, Dominican Republic, Mexico, the United States, Africa, Australia and Other.
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