This past Thursday, Royal Gold, Inc. (RGLD - 81.41) reported results for its fiscal first quarter. RGLD said its profit more than doubled to $26.1 million, or 41 cents per share, from $13 million, or 21 cents per share, in the year-ago period. Excluding items, the company earned 43 cents per share. Meanwhile, revenue surged 42% higher to $64.5 million. The precious metals company's results were stronger than anticipated, as Wall Street predicted a profit of 42 cents per share.
Since then, RGLD has received some assorted analyst attention. On Friday, National Bank lowered its rating to "sector perform" from "outperform," while CIBC lifted its price target to $86 from $80. Earlier today, UBS upped its target by $4.50 to $83.
It looks as though sentiment among the brokerage crowd is mixed. The consensus 12-month price target -- as calculated by Thomson Reuters -- sits at $86.03, representing a slight premium to today's intraday peak of $81.44.
On the other hand, Zacks is reporting two "buy" or better recommendations for the stock, versus four lukewarm "hold" suggestions and zero "sells."
There seems to be negativity surrounding RGLD elsewhere on the Street. Although short interest on the security fell 31.2% over the past month, it still accounts for over 5.6% of the stock's available float.
The Case for Big Moves in IWM and QQQ
Featured Partners: AOL DailyFinance
© 2015 Schaeffer's Investment Research, Inc. 5151 Pfeiffer Road, Suite 250, Cincinnati, Ohio 45242
Phone: (800) 448-2080 FAX: (513) 589-3810 Int'l Callers: (513) 589-3800 Email: firstname.lastname@example.org
All Rights Reserved. Unauthorized reproduction of any SIR publication is strictly prohibited.
Market Data provided by QuoteMedia.com | Data delayed 15-20 minutes unless otherwise indicated.