Royal Gold (NASDAQ:RGLD) Price Target Increased to $175.00 by Analysts at CIBC

Royal Gold (NASDAQ:RGLDFree Report) (TSE:RGL) had its price target hoisted by CIBC from $166.00 to $175.00 in a research report released on Wednesday, Benzinga reports. CIBC currently has a neutral rating on the basic materials company’s stock.

Several other research analysts have also issued reports on RGLD. Scotiabank raised their target price on Royal Gold from $144.00 to $148.00 and gave the stock a sector perform rating in a research report on Thursday, May 23rd. Bank of America lifted their price objective on Royal Gold from $129.00 to $131.00 and gave the stock an underperform rating in a research report on Wednesday, June 26th. Finally, BMO Capital Markets lifted their price objective on Royal Gold from $168.00 to $170.00 and gave the stock an outperform rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of $149.75.

Check Out Our Latest Stock Report on Royal Gold

Royal Gold Trading Up 1.3 %

NASDAQ RGLD opened at $133.09 on Wednesday. The company has a quick ratio of 2.35, a current ratio of 2.50 and a debt-to-equity ratio of 0.05. Royal Gold has a twelve month low of $100.55 and a twelve month high of $134.56. The company has a market cap of $8.75 billion, a price-to-earnings ratio of 39.26, a price-to-earnings-growth ratio of 1.08 and a beta of 0.87. The business’s fifty day moving average is $126.80 and its 200 day moving average is $119.77.

Royal Gold (NASDAQ:RGLDGet Free Report) (TSE:RGL) last announced its earnings results on Wednesday, May 8th. The basic materials company reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.04). The company had revenue of $148.90 million for the quarter, compared to the consensus estimate of $147.02 million. Royal Gold had a return on equity of 7.96% and a net margin of 38.12%. The firm’s revenue for the quarter was down 12.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.96 earnings per share. As a group, sell-side analysts expect that Royal Gold will post 4.56 EPS for the current fiscal year.

Royal Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 19th. Investors of record on Friday, July 5th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, July 5th. This represents a $1.60 annualized dividend and a yield of 1.20%. Royal Gold’s payout ratio is 47.20%.

Insider Activity at Royal Gold

In related news, SVP Daniel Breeze sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $130.73, for a total value of $196,095.00. Following the transaction, the senior vice president now owns 14,840 shares in the company, valued at $1,940,033.20. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.52% of the stock is owned by company insiders.

Hedge Funds Weigh In On Royal Gold

Institutional investors have recently bought and sold shares of the company. Commerce Bank increased its holdings in shares of Royal Gold by 4.3% in the fourth quarter. Commerce Bank now owns 2,356 shares of the basic materials company’s stock worth $285,000 after purchasing an additional 98 shares during the period. Dana Investment Advisors Inc. grew its position in Royal Gold by 0.5% in the fourth quarter. Dana Investment Advisors Inc. now owns 23,255 shares of the basic materials company’s stock worth $2,813,000 after acquiring an additional 110 shares in the last quarter. Birch Capital Management LLC grew its position in Royal Gold by 16.5% in the first quarter. Birch Capital Management LLC now owns 799 shares of the basic materials company’s stock worth $97,000 after acquiring an additional 113 shares in the last quarter. Quadrant Capital Group LLC grew its position in Royal Gold by 31.3% in the fourth quarter. Quadrant Capital Group LLC now owns 487 shares of the basic materials company’s stock worth $59,000 after acquiring an additional 116 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in Royal Gold by 0.3% in the third quarter. Wellington Management Group LLP now owns 45,382 shares of the basic materials company’s stock worth $4,825,000 after acquiring an additional 125 shares in the last quarter. Hedge funds and other institutional investors own 83.65% of the company’s stock.

About Royal Gold

(Get Free Report)

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.

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Analyst Recommendations for Royal Gold (NASDAQ:RGLD)

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