In a report released yesterday, Carey MacRury from Canaccord Genuity maintained a Buy rating on Royal Gold (RGLD – Research Report), with a price target of $126.00. The company’s shares closed last Tuesday at $104.33.
According to TipRanks.com, MacRury is a 5-star analyst with an average return of 13.0% and a 58.3% success rate. MacRury covers the Basic Materials sector, focusing on stocks such as Newmont Mining, Eldorado Gold, and Kinross Gold.
Royal Gold has an analyst consensus of Moderate Buy, with a price target consensus of $138.00, implying a 30.8% upside from current levels. In a report issued on July 25, RBC Capital also maintained a Buy rating on the stock with a $155.00 price target.
Based on Royal Gold’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $162 million and net profit of $65.68 million. In comparison, last year the company earned revenue of $143 million and had a net profit of $54.03 million.
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Royal Gold, Inc. engages in the acquisition and management of metal streams, royalties, and similar interests. It operates through the following segments: Acquisition and Management of Stream Interests, and Acquisition and Management of Royalty Interests. The Acquisition and Management of Stream Interests segment involves in the purchase agreement that provides, in exchange for an upfront deposit payment, the right to purchase all or a portion of one or more metals. The Acquisition and Management of Royalty Interests segment focuses on the non-operating interests in mining projects that provide the revenue or metals produced from the project. The company was founded on January 5, 1981 and is headquartered in Denver, CO.
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