Why Has Gabelli & Co Given Royal Gold (NASDAQ:RGLD) a $45.0 Price Target
Analysts at Gabelli & Co launched coverage on shares of Royal Gold (NASDAQ:RGLD) in recent note shared with investors on Friday morning. The brokerage set “Buy” rating on the $2.40B market cap company.
From a total of 15 analysts covering Royal Gold Inc. (NASDAQ:RGLD) stock, 13 rate it a ”Buy”, 0 a “Sell”, and 3 a ”Hold”. This means that 81% of the ratings are positive. The highest target price is $75 while the lowest target price is $50. The mean of all analyst targets is $62.31 with a 82.98% above today’s ($36.77) stock price. Royal Gold Inc. was the topic of 12 analyst reports since August 6, 2015 according to the firm StockzIntelligence Inc. FBR Capital initiated shares on September 18 with “Outperform” rating. Canaccord Genuity upgraded RGLD stock in a recent report from August 6 to “Buy” rating.
The stock closed the day at $36.77 during the previous session. It is down 43.50% since May 8, 2015 and is downtrending. It has underperformed by 40.48% the S&P500.
The overall sentiment of institutions has increased to 1.18 in Q2 2015. Its up 0.42, from 0.76 in 2015Q2. The ratio increased, as 23 institutions have sold all the shares of Royal Gold, Inc USA) that they owned while 82 funds have taken shares off the table. 38 funds have purchased shares for the first time while 86 added to their positions. These institutions now hold 42.61 million shares or 9.11% less than the 46.88 million shares they owned in 2015Q2.
The Fund Asa Gold & Precious Metals Ltd currently is holding shares equating to 7.64% of its total portfolio in Royal Gold, Inc USA) representing a total of 185,000 shares. Another fund,Orrell Capital Management Inc, is holding a total of 67,350 shares equating to 7.41% of their holdings. Additionally, St. James Investment Company Llc has a 736,088 share stake in Royal Gold, Inc USA) which represents 4.26% of their total portfolio. The Fund, Pring Turner Capital Group Inc, based out of California, has also built up a stake in the stock, which represents a total of 2.88% of their total portfolio. Finally Icm Asset Management Inc Wa, a fund which is based in the state of Washington reported a total holdings of 26,555 shares.
Insider activity is a very important aspect to track on any stock. Going back to September 17, 2015, shareholders of Royal Gold, Inc USA) have witnessed 0 insider purchases, and a total of 1 sale equating to a net activity of approximately $1.37 million . Jensen Tony A sold 30,500 shares worth approximately $1.37 million.
Royal Gold, Inc. , together with its subsidiaries, is engaged in the business of acquiring and managing precious metals royalties, metal streams and similar interests. The company has a market cap of $2.40 billion. The Firm operates through two business divisions: acquisition and management of royalty interests and acquisition and management of stream interests. It currently has negative earnings. As of June 30, 2015, the Company owned stream interests on one producing property and two development-stage properties and owned royalty interests on 36 producing properties, 22 development-stage properties and 135 exploration-stage properties.
According to Zacks Investment Research, “Royal Gold, Inc. is engaged in the acquisition and management of precious metals royalties. They seek to acquire existing royalties or to finance projects that are in production or near production in exchange for royalty interests. They also explore and develop properties thought to contain precious metals and seek to obtain royalty and other carried ownership interests in these properties through the subsequent transfer of operating interests to other mining companies.” Get a free copy of the Zacks research report on Royal Gold, Inc USA) (RGLD).