Royal Gold, Inc. (NASDAQ:RGLD) Receives Consensus Rating of “Hold” from Brokerages

Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) has been given an average rating of “Hold” by the eight analysts that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $141.50.

A number of brokerages have issued reports on RGLD. Cantor Fitzgerald raised shares of Royal Gold from a “hold” rating to a “buy” rating and set a $145.00 price objective on the stock in a research note on Thursday, August 3rd. Bank of America lowered Royal Gold from a “neutral” rating to an “underperform” rating and set a $130.00 price target on the stock. in a research report on Monday, June 5th. Raymond James upped their price objective on Royal Gold from $156.00 to $158.00 and gave the company an “outperform” rating in a report on Wednesday, June 14th. BMO Capital Markets raised their target price on Royal Gold from $138.00 to $145.00 in a report on Thursday, August 3rd. Finally, Barclays upped their price target on Royal Gold from $122.00 to $124.00 in a research note on Friday, July 7th.

Institutional Trading of Royal Gold

Hedge funds have recently bought and sold shares of the stock. Norges Bank acquired a new stake in shares of Royal Gold during the fourth quarter worth $239,552,000. State Street Corp raised its stake in shares of Royal Gold by 66.2% in the 1st quarter. State Street Corp now owns 4,153,139 shares of the basic materials company’s stock valued at $588,192,000 after purchasing an additional 1,654,360 shares during the period. Findlay Park Partners LLP acquired a new stake in shares of Royal Gold in the 4th quarter valued at about $134,246,000. Van ECK Associates Corp lifted its stake in Royal Gold by 16.5% in the 1st quarter. Van ECK Associates Corp now owns 4,651,775 shares of the basic materials company’s stock valued at $603,382,000 after acquiring an additional 659,652 shares in the last quarter. Finally, Clearbridge Investments LLC acquired a new position in Royal Gold during the 1st quarter worth approximately $56,762,000. 80.49% of the stock is currently owned by institutional investors and hedge funds.

Royal Gold Stock Up 0.8 %

NASDAQ:RGLD opened at $110.62 on Friday. The company has a market cap of $7.27 billion, a price-to-earnings ratio of 31.61, a P/E/G ratio of 3.13 and a beta of 0.66. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.45 and a current ratio of 2.62. The stock’s fifty day moving average price is $114.17 and its two-hundred day moving average price is $121.94. Royal Gold has a 52-week low of $84.54 and a 52-week high of $147.82.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last released its earnings results on Wednesday, August 2nd. The basic materials company reported $0.88 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.88. The company had revenue of $144.04 million during the quarter. Royal Gold had a return on equity of 8.19% and a net margin of 37.69%. On average, analysts anticipate that Royal Gold will post 3.49 EPS for the current year.

Royal Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 20th. Investors of record on Friday, October 6th will be given a $0.375 dividend. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $1.50 annualized dividend and a dividend yield of 1.36%. Royal Gold’s dividend payout ratio is presently 42.86%.

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.