Raymond James Boosts Royal Gold (NASDAQ:RGLD) Price Target to $145.00

Royal Gold (NASDAQ:RGLDGet Rating) (TSE:RGL) had its price target hoisted by Raymond James from $139.00 to $145.00 in a research report report published on Thursday, BayStreet.CA reports. They currently have an outperform rating on the basic materials company’s stock. Raymond James also issued estimates for Royal Gold’s Q3 2022 earnings at $0.96 EPS, Q4 2022 earnings at $0.94 EPS, Q1 2023 earnings at $0.96 EPS, Q2 2023 earnings at $0.99 EPS, Q3 2023 earnings at $0.97 EPS, Q4 2023 earnings at $0.94 EPS, FY2023 earnings at $3.93 EPS, Q1 2024 earnings at $0.97 EPS and Q2 2024 earnings at $0.94 EPS.

A number of other research firms also recently issued reports on RGLD. National Bank Financial reduced their price target on shares of Royal Gold from C$155.00 to C$140.00 in a research note on Friday, January 7th. TD Securities upped their target price on shares of Royal Gold from $140.00 to $145.00 and gave the stock a buy rating in a research note on Friday, February 18th. StockNews.com started coverage on shares of Royal Gold in a research note on Thursday, March 31st. They set a hold rating on the stock. JPMorgan Chase & Co. cut their target price on shares of Royal Gold from $147.00 to $143.00 and set an overweight rating on the stock in a research note on Tuesday, February 22nd. Finally, Canaccord Genuity Group downgraded shares of Royal Gold from a buy rating to a hold rating and upped their target price for the stock from $135.00 to $145.00 in a research note on Tuesday, April 5th. Nine research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Hold and an average target price of $137.38.

Royal Gold stock opened at $144.93 on Thursday. The company’s 50 day simple moving average is $130.08 and its 200-day simple moving average is $111.08. The company has a market capitalization of $9.51 billion, a price-to-earnings ratio of 34.76, a price-to-earnings-growth ratio of 3.58 and a beta of 0.63. Royal Gold has a 1 year low of $92.01 and a 1 year high of $147.70. The company has a debt-to-equity ratio of 0.04, a quick ratio of 3.33 and a current ratio of 3.52.

Royal Gold (NASDAQ:RGLDGet Rating) (TSE:RGL) last released its quarterly earnings results on Wednesday, February 16th. The basic materials company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.11. The business had revenue of $168.52 million for the quarter, compared to the consensus estimate of $160.82 million. Royal Gold had a net margin of 41.93% and a return on equity of 10.42%. The business’s revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.92 EPS. Equities analysts expect that Royal Gold will post 4.04 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, April 14th. Stockholders of record on Friday, April 1st were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 0.97%. The ex-dividend date was Thursday, March 31st. Royal Gold’s payout ratio is 33.57%.

In other news, CFO Paul Libner sold 1,200 shares of the company’s stock in a transaction on Tuesday, March 1st. The shares were sold at an average price of $125.00, for a total value of $150,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.35% of the company’s stock.

Several institutional investors have recently modified their holdings of RGLD. Eagle Bay Advisors LLC boosted its stake in Royal Gold by 69.7% during the 3rd quarter. Eagle Bay Advisors LLC now owns 302 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 124 shares during the period. Sageworth Trust Co of South Dakota purchased a new position in Royal Gold during the 4th quarter worth $30,000. Covestor Ltd purchased a new position in Royal Gold during the 4th quarter worth $34,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in Royal Gold during the 4th quarter worth $37,000. Finally, Cullen Frost Bankers Inc. purchased a new position in Royal Gold during the 3rd quarter worth $48,000. Institutional investors and hedge funds own 79.30% of the company’s stock.

About Royal Gold (Get Rating)

Royal Gold, Inc engages in the acquisition and management of precious metal streams, royalties, and similar interests. It operates through the following segments: Acquisition and Management of Stream Interests and Acquisition and Management of Royalty Interests. The Acquisition and Management of Stream Interests segment focuses on metal streams, which are purchase agreements that provide, in exchange for an upfront deposit payment, the right to purchase all or a portion of one or more metals produced, at a price determined for the life of the transaction.

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