Royal Gold, Inc. (NASDAQ:RGLD) Receives Average Rating of “Moderate Buy” from Brokerages

Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) has received an average recommendation of “Moderate Buy” from the ten research firms that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $221.2222.

RGLD has been the topic of several analyst reports. Bank of America raised their price target on shares of Royal Gold from $193.00 to $203.00 and gave the company an “underperform” rating in a research note on Thursday, October 16th. TD Securities restated a “buy” rating and issued a $237.00 target price (up from $229.00) on shares of Royal Gold in a research report on Friday, August 8th. Zacks Research upgraded Royal Gold from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 17th. Raymond James Financial set a $264.00 price target on Royal Gold in a report on Thursday. Finally, BMO Capital Markets set a $240.00 price objective on shares of Royal Gold and gave the company an “outperform” rating in a research note on Tuesday, October 21st.

Royal Gold Stock Performance

RGLD stock opened at $175.82 on Friday. Royal Gold has a 1 year low of $130.67 and a 1 year high of $209.42. The stock has a market capitalization of $11.57 billion, a price-to-earnings ratio of 25.78, a PEG ratio of 0.96 and a beta of 0.39. The stock’s fifty day moving average is $188.68 and its two-hundred day moving average is $178.01.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last released its quarterly earnings results on Wednesday, November 5th. The basic materials company reported $2.06 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.24). The firm had revenue of $250.23 million for the quarter, compared to the consensus estimate of $275.11 million. Royal Gold had a return on equity of 13.30% and a net margin of 56.24%.The firm’s revenue was up 30.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.47 EPS. As a group, analysts predict that Royal Gold will post 6.2 EPS for the current fiscal year.

Royal Gold Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 17th. Shareholders of record on Friday, October 3rd were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Friday, October 3rd. Royal Gold’s payout ratio is 24.73%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Encompass More Asset Management boosted its stake in Royal Gold by 4.2% during the 3rd quarter. Encompass More Asset Management now owns 1,283 shares of the basic materials company’s stock valued at $257,000 after purchasing an additional 52 shares in the last quarter. Sowell Financial Services LLC raised its stake in shares of Royal Gold by 4.0% in the 3rd quarter. Sowell Financial Services LLC now owns 1,368 shares of the basic materials company’s stock worth $274,000 after buying an additional 52 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Royal Gold by 33.9% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 221 shares of the basic materials company’s stock valued at $44,000 after buying an additional 56 shares during the period. Avidian Wealth Enterprises LLC boosted its stake in Royal Gold by 2.3% during the third quarter. Avidian Wealth Enterprises LLC now owns 2,635 shares of the basic materials company’s stock valued at $529,000 after buying an additional 59 shares in the last quarter. Finally, NorthRock Partners LLC boosted its stake in Royal Gold by 4.5% during the first quarter. NorthRock Partners LLC now owns 1,586 shares of the basic materials company’s stock valued at $259,000 after buying an additional 68 shares in the last quarter. Institutional investors and hedge funds own 83.65% of the company’s stock.

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.