CIBC Forecasts Strong Price Appreciation for Royal Gold (NASDAQ:RGLD) Stock

Royal Gold (NASDAQ:RGLD) (TSE:RGL) had its price objective upped by equities researchers at CIBC from $202.00 to $215.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the basic materials company’s stock. CIBC’s target price suggests a potential upside of 16.62% from the stock’s previous close.

A number of other equities research analysts also recently commented on the stock. Royal Bank of Canada lowered their price target on shares of Royal Gold from $175.00 to $170.00 and set an “outperform” rating for the company in a report on Friday, April 4th. Scotiabank upgraded Royal Gold from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the company from $166.00 to $189.00 in a report on Monday, April 14th. BMO Capital Markets started coverage on Royal Gold in a report on Wednesday, April 16th. They set a “market perform” rating and a $196.00 price objective on the stock. Finally, Raymond James increased their target price on Royal Gold from $181.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, April 4th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $183.00.

Royal Gold Price Performance

Shares of NASDAQ RGLD opened at $184.36 on Thursday. The firm’s 50-day moving average is $168.07 and its two-hundred day moving average is $151.80. Royal Gold has a 12-month low of $119.72 and a 12-month high of $191.78. The company has a market capitalization of $12.13 billion, a PE ratio of 36.58, a price-to-earnings-growth ratio of 3.42 and a beta of 0.48.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last released its quarterly earnings results on Wednesday, May 7th. The basic materials company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.14. The company had revenue of $193.44 million during the quarter, compared to the consensus estimate of $176.17 million. Royal Gold had a return on equity of 11.46% and a net margin of 46.15%. Royal Gold’s revenue was up 29.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.91 earnings per share. On average, analysts forecast that Royal Gold will post 6.2 EPS for the current fiscal year.

Insider Transactions at Royal Gold

In other news, SVP Randy Shefman sold 1,300 shares of the business’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $154.98, for a total transaction of $201,474.00. Following the transaction, the senior vice president now directly owns 9,360 shares of the company’s stock, valued at approximately $1,450,612.80. The trade was a 12.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.49% of the company’s stock.

Institutional Investors Weigh In On Royal Gold

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Capital World Investors increased its position in shares of Royal Gold by 0.4% during the fourth quarter. Capital World Investors now owns 8,773,925 shares of the basic materials company’s stock worth $1,156,842,000 after acquiring an additional 37,648 shares during the last quarter. Vanguard Group Inc. increased its holdings in Royal Gold by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 6,698,891 shares of the basic materials company’s stock worth $1,095,336,000 after purchasing an additional 46,956 shares during the last quarter. Northern Trust Corp raised its position in shares of Royal Gold by 19.6% in the 4th quarter. Northern Trust Corp now owns 1,029,431 shares of the basic materials company’s stock valued at $135,730,000 after purchasing an additional 168,569 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Royal Gold by 18.1% during the 4th quarter. AQR Capital Management LLC now owns 997,054 shares of the basic materials company’s stock valued at $131,412,000 after buying an additional 152,599 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Royal Gold by 5.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 877,803 shares of the basic materials company’s stock worth $115,735,000 after buying an additional 49,206 shares in the last quarter. Hedge funds and other institutional investors own 83.65% of the company’s stock.

Royal Gold Company Profile

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.