Royal Gold (NASDAQ:RGLD) Hits New 1-Year High – What’s Next?

Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL)’s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as $276.58 and last traded at $271.8080, with a volume of 156641 shares changing hands. The stock had previously closed at $265.12.

Analysts Set New Price Targets

RGLD has been the topic of several research reports. Wall Street Zen lowered shares of Royal Gold from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. TD Cowen lifted their price target on Royal Gold from $261.00 to $263.00 and gave the company a “buy” rating in a report on Tuesday, November 18th. Bank of America boosted their price target on Royal Gold from $193.00 to $203.00 and gave the stock an “underperform” rating in a research report on Thursday, October 16th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Royal Gold in a research report on Wednesday, October 8th. Finally, BMO Capital Markets set a $240.00 target price on shares of Royal Gold and gave the stock an “outperform” rating in a report on Tuesday, October 21st. Eight analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Royal Gold presently has a consensus rating of “Moderate Buy” and an average price target of $234.60.

Royal Gold Stock Performance

The company has a quick ratio of 2.68, a current ratio of 2.89 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $22.83 billion, a PE ratio of 37.09, a PEG ratio of 0.70 and a beta of 0.49. The business has a 50 day simple moving average of $217.28 and a 200 day simple moving average of $191.65.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last issued its quarterly earnings results on Wednesday, November 5th. The basic materials company reported $2.06 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.24). The business had revenue of $250.23 million for the quarter, compared to analysts’ expectations of $275.11 million. Royal Gold had a return on equity of 14.14% and a net margin of 55.99%.Royal Gold’s revenue was up 30.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.47 EPS. Equities research analysts predict that Royal Gold, Inc. will post 6.2 EPS for the current fiscal year.

Royal Gold Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 16th. Investors of record on Friday, January 2nd were given a $0.475 dividend. This represents a $1.90 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, January 2nd. This is a positive change from Royal Gold’s previous quarterly dividend of $0.45. Royal Gold’s payout ratio is currently 26.10%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of RGLD. Goldman Sachs Group Inc. lifted its holdings in shares of Royal Gold by 99.5% during the first quarter. Goldman Sachs Group Inc. now owns 168,846 shares of the basic materials company’s stock worth $27,608,000 after purchasing an additional 84,206 shares during the period. Focus Partners Wealth lifted its stake in Royal Gold by 51.5% during the 1st quarter. Focus Partners Wealth now owns 8,465 shares of the basic materials company’s stock valued at $1,384,000 after acquiring an additional 2,876 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in Royal Gold by 12.4% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 33,666 shares of the basic materials company’s stock valued at $6,054,000 after acquiring an additional 3,703 shares during the period. Diversified Trust Co boosted its holdings in shares of Royal Gold by 4.5% in the 2nd quarter. Diversified Trust Co now owns 2,205 shares of the basic materials company’s stock valued at $392,000 after acquiring an additional 95 shares during the last quarter. Finally, UMB Bank n.a. increased its stake in shares of Royal Gold by 7.3% in the second quarter. UMB Bank n.a. now owns 1,687 shares of the basic materials company’s stock worth $300,000 after acquiring an additional 115 shares during the period. 83.65% of the stock is owned by institutional investors and hedge funds.

About Royal Gold

Royal Gold, Inc, headquartered in Denver, Colorado, is a leading precious metals streaming and royalty company. Through its business model, Royal Gold provides upfront financing to mining operators in exchange for the right to purchase a percentage of future metal production at predetermined prices. This structure allows the company to participate in production upside while minimizing exposure to the operating and capital-intensive aspects of mine ownership.

The company’s portfolio encompasses interests in over 200 streams and royalties on projects across North America, South America, Europe, Africa and Australia.