Royal Gold, Inc. (NASDAQ:RGLD) Receives $183.13 Average PT from Analysts

Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) has been given a consensus rating of “Hold” by the nine brokerages that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $183.13.

A number of equities research analysts recently weighed in 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. BMO Capital Markets set a $197.00 price target on shares of Royal Gold and gave the company a “market perform” rating in a report on Thursday, May 22nd. Raymond James raised their price target on shares of Royal Gold from $181.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, April 4th. Wall Street Zen raised shares of Royal Gold from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 24th. Finally, CIBC raised their price target on shares of Royal Gold from $202.00 to $215.00 and gave the company a “neutral” rating in a report on Thursday, May 8th.

Insiders Place Their Bets

In other Royal Gold news, SVP Randy Shefman sold 1,300 shares of the firm’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 completion of the transaction, the senior vice president now directly owns 9,360 shares of the company’s stock, valued at $1,450,612.80. This trade represents a 12.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.49% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of RGLD. WPG Advisers LLC acquired a new position in shares of Royal Gold in the 1st quarter valued at about $27,000. Alpine Bank Wealth Management acquired a new position in shares of Royal Gold in the 1st quarter valued at about $32,000. Banque Cantonale Vaudoise acquired a new position in shares of Royal Gold in the 1st quarter valued at about $34,000. Bayforest Capital Ltd boosted its holdings in shares of Royal Gold by 256.5% in the 1st quarter. Bayforest Capital Ltd now owns 246 shares of the basic materials company’s stock valued at $40,000 after buying an additional 177 shares during the period. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of Royal Gold in the 1st quarter valued at about $40,000. 83.65% of the stock is owned by institutional investors and hedge funds.

Royal Gold Trading Down 1.8%

Shares of RGLD stock opened at $173.66 on Wednesday. The company’s fifty day simple moving average is $176.79 and its 200-day simple moving average is $156.42. Royal Gold has a 52 week low of $119.72 and a 52 week high of $191.78. The company has a market cap of $11.43 billion, a PE ratio of 34.46, a P/E/G ratio of 3.42 and a beta of 0.44.

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, beating analysts’ consensus estimates of $1.37 by $0.14. The business had revenue of $193.44 million during the quarter, compared to analyst estimates of $176.17 million. Royal Gold had a net margin of 46.15% and a return on equity of 11.46%. The business’s revenue was up 29.9% on a year-over-year basis. During the same period last year, the business earned $0.91 EPS. Equities research analysts expect that Royal Gold will post 6.2 EPS for the current fiscal year.

Royal Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 17th. Shareholders of record on Thursday, July 3rd will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.04%. The ex-dividend date is Thursday, July 3rd. Royal Gold’s dividend payout ratio is currently 29.80%.

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.