Royal Gold, Inc. (NASDAQ:RGLD) Receives $183.13 Average Target Price from Brokerages

Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) has been assigned a consensus rating of “Hold” from the nine analysts that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $183.13.

Several analysts have commented on RGLD shares. Raymond James boosted their target price on shares of Royal Gold from $181.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, April 4th. Wall Street Zen raised shares of Royal Gold from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 24th. Scotiabank upgraded shares of Royal Gold from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the stock from $166.00 to $189.00 in a research note on Monday, April 14th. Royal Bank of Canada reduced their price objective on shares of Royal Gold from $175.00 to $170.00 and set an “outperform” rating for the company in a research note on Friday, April 4th. Finally, CIBC boosted their price objective on shares of Royal Gold from $202.00 to $215.00 and gave the stock a “neutral” rating in a research note on Thursday, May 8th.

Royal Gold Stock Down 4.3%

RGLD stock opened at $175.93 on Wednesday. The company has a market capitalization of $11.58 billion, a price-to-earnings ratio of 34.91, a P/E/G ratio of 3.42 and a beta of 0.44. Royal Gold has a 12 month low of $119.72 and a 12 month high of $191.78. The firm has a 50 day moving average of $176.42 and a two-hundred day moving average of $156.00.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last posted its earnings results on Wednesday, May 7th. The basic materials company reported $1.51 EPS for the quarter, topping the consensus estimate of $1.37 by $0.14. The company had revenue of $193.44 million during the quarter, compared to the consensus estimate of $176.17 million. Royal Gold had a net margin of 46.15% and a return on equity of 11.46%. The company’s revenue for the quarter was up 29.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.91 earnings per share. On average, research analysts expect that Royal Gold will post 6.2 EPS for the current fiscal year.

Royal Gold Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 17th. Investors of record on Thursday, July 3rd will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.02%. The ex-dividend date is Thursday, July 3rd. Royal Gold’s payout ratio is currently 29.80%.

Insider Activity at Royal Gold

In related news, SVP Randy Shefman sold 1,300 shares of the company’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $154.98, for a total transaction of $201,474.00. Following the completion of the transaction, the senior vice president now directly owns 9,360 shares in the company, valued at $1,450,612.80. This represents a 12.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.49% of the company’s stock.

Institutional Investors Weigh In On Royal Gold

Institutional investors and hedge funds have recently bought and sold shares of the business. WPG Advisers LLC bought a new stake in Royal Gold in the 1st quarter valued at $27,000. Alpine Bank Wealth Management bought a new stake in Royal Gold in the 1st quarter valued at $32,000. Banque Cantonale Vaudoise bought a new stake in Royal Gold in the 1st quarter valued at $34,000. Bayforest Capital Ltd increased its holdings in Royal Gold by 256.5% in the 1st quarter. Bayforest Capital Ltd now owns 246 shares of the basic materials company’s stock valued at $40,000 after buying an additional 177 shares during the period. Finally, Caitong International Asset Management Co. Ltd bought a new stake in Royal Gold in the 1st quarter valued at $40,000. Institutional investors 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.