Royal Gold (NASDAQ:RGLD) Price Target Raised to $185.00

Royal Gold (NASDAQ:RGLD) (TSE:RGL) had its target price lifted by TD Securities from $181.00 to $185.00 in a research note released on Thursday morning,BayStreet.CA reports. The firm currently has a buy rating on the basic materials company’s stock.

Several other analysts have also recently weighed in on RGLD. StockNews.com raised Royal Gold from a “hold” rating to a “buy” rating in a report on Thursday, September 19th. Cibc World Mkts upgraded shares of Royal Gold to a “hold” rating in a research report on Wednesday, July 10th. CIBC increased their price target on shares of Royal Gold from $166.00 to $175.00 and gave the stock a “neutral” rating in a report on Wednesday, July 10th. Jefferies Financial Group lifted their price objective on shares of Royal Gold from $141.00 to $154.00 and gave the stock a “hold” rating in a report on Friday, October 4th. Finally, BMO Capital Markets upped their target price on shares of Royal Gold from $168.00 to $170.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Royal Gold currently has a consensus rating of “Hold” and an average target price of $163.14.

Royal Gold Trading Up 1.8 %

Shares of NASDAQ:RGLD opened at $149.93 on Thursday. The company has a 50 day moving average of $143.61 and a 200 day moving average of $134.98. The stock has a market cap of $9.86 billion, a P/E ratio of 34.39, a P/E/G ratio of 1.19 and a beta of 0.90. Royal Gold has a 12 month low of $100.55 and a 12 month high of $155.10.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last released its quarterly earnings results on Wednesday, November 6th. The basic materials company reported $1.47 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.13. Royal Gold had a net margin of 42.93% and a return on equity of 10.28%. The firm had revenue of $193.84 million during the quarter, compared to analyst estimates of $184.12 million. During the same period in the previous year, the business earned $0.76 EPS. The business’s revenue for the quarter was up 39.8% on a year-over-year basis. On average, equities analysts forecast that Royal Gold will post 4.99 earnings per share for the current fiscal year.

Royal Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Friday, October 4th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend was Friday, October 4th. Royal Gold’s dividend payout ratio is presently 36.70%.

Insider Buying and Selling at Royal Gold

In other news, Director Ronald J. Vance sold 415 shares of Royal Gold stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $140.85, for a total value of $58,452.75. Following the transaction, the director now owns 8,194 shares in the company, valued at approximately $1,154,124.90. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Royal Gold news, Director Ronald J. Vance sold 1,000 shares of the stock in a transaction on Monday, August 12th. The shares were sold at an average price of $132.16, for a total transaction of $132,160.00. Following the completion of the sale, the director now owns 9,109 shares of the company’s stock, valued at $1,203,845.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Ronald J. Vance sold 415 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $140.85, for a total transaction of $58,452.75. Following the completion of the sale, the director now directly owns 8,194 shares in the company, valued at approximately $1,154,124.90. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,355 shares of company stock worth $1,170,315 over the last three months. Company insiders own 0.52% of the company’s stock.

Hedge Funds Weigh In On Royal Gold

Several hedge funds and other institutional investors have recently modified their holdings of the company. Advisors Asset Management Inc. purchased a new position in Royal Gold during the 3rd quarter valued at about $38,000. Compagnie Lombard Odier SCmA purchased a new stake in Royal Gold in the third quarter worth $49,000. Blue Trust Inc. lifted its stake in Royal Gold by 108.7% in the third quarter. Blue Trust Inc. now owns 409 shares of the basic materials company’s stock worth $57,000 after acquiring an additional 213 shares during the period. Mather Group LLC. bought a new stake in Royal Gold in the second quarter valued at $62,000. Finally, Quest Partners LLC purchased a new position in Royal Gold during the 3rd quarter valued at $62,000. 83.65% of the stock is owned by institutional investors.

About Royal Gold

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.