Royal Gold (NASDAQ:RGLD) Stock Price Expected to Rise, Bank of America Analyst Says

Royal Gold (NASDAQ:RGLD) (TSE:RGL) had its target price hoisted by investment analysts at Bank of America from $193.00 to $203.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “underperform” rating on the basic materials company’s stock. Bank of America‘s target price would suggest a potential upside of 4.77% from the stock’s previous close.

A number of other analysts also recently commented on RGLD. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Royal Gold in a research report on Wednesday, October 8th. TD Securities reaffirmed a “buy” rating and set a $237.00 price target (up from $229.00) on shares of Royal Gold in a research report on Friday, August 8th. Zacks Research downgraded Royal Gold from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 19th. Wall Street Zen raised Royal Gold from a “hold” rating to a “buy” rating in a research report on Saturday, August 30th. Finally, CIBC raised their target price on Royal Gold from $225.00 to $250.00 and gave the stock a “neutral” rating in a research report on Friday, October 10th. Six analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $203.00.

Royal Gold Stock Down 6.2%

RGLD stock opened at $193.76 on Thursday. The firm has a market capitalization of $12.76 billion, a PE ratio of 28.41, a P/E/G ratio of 1.62 and a beta of 0.41. The stock’s 50 day moving average is $187.14 and its 200-day moving average is $177.24. Royal Gold has a twelve month low of $130.67 and a twelve month high of $209.42.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last issued its quarterly earnings results on Wednesday, August 6th. The basic materials company reported $1.81 EPS for the quarter, beating analysts’ consensus estimates of $1.70 by $0.11. The company had revenue of $209.64 million during the quarter, compared to the consensus estimate of $186.63 million. Royal Gold had a return on equity of 13.30% and a net margin of 56.24%.Royal Gold’s revenue was up 20.4% on a year-over-year basis. During the same period last year, the business posted $1.25 earnings per share. On average, equities research analysts anticipate that Royal Gold will post 6.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Royal Gold

A number of large investors have recently made changes to their positions in RGLD. Farther Finance Advisors LLC boosted its stake in Royal Gold by 29.5% during the first quarter. Farther Finance Advisors LLC now owns 812 shares of the basic materials company’s stock valued at $133,000 after buying an additional 185 shares during the period. GAMMA Investing LLC boosted its stake in Royal Gold by 9.0% during the first quarter. GAMMA Investing LLC now owns 2,798 shares of the basic materials company’s stock valued at $458,000 after buying an additional 231 shares during the period. Fifth Third Bancorp boosted its stake in Royal Gold by 50.7% during the first quarter. Fifth Third Bancorp now owns 871 shares of the basic materials company’s stock valued at $142,000 after buying an additional 293 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in Royal Gold by 61.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 29,963 shares of the basic materials company’s stock valued at $4,899,000 after buying an additional 11,435 shares during the period. Finally, Janney Montgomery Scott LLC boosted its stake in Royal Gold by 44.9% during the first quarter. Janney Montgomery Scott LLC now owns 17,725 shares of the basic materials company’s stock valued at $2,898,000 after buying an additional 5,496 shares during the period. 83.65% of the stock is owned by institutional investors.

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.