Royal Gold (NASDAQ:RGLD) Given New $263.00 Price Target at TD Cowen

Royal Gold (NASDAQ:RGLD) (TSE:RGL) had its target price raised by TD Cowen from $261.00 to $263.00 in a research report released on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the basic materials company’s stock.

RGLD has been the subject of several other research reports. Scotiabank reissued an “outperform” rating on shares of Royal Gold in a research report on Thursday, October 23rd. Zacks Research raised shares of Royal Gold from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 17th. Bank of America upped their target price on shares of Royal Gold from $193.00 to $203.00 and gave the stock an “underperform” rating in a report on Thursday, October 16th. Wall Street Zen downgraded Royal Gold from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Finally, CIBC boosted their price objective on Royal Gold from $225.00 to $250.00 and gave the stock a “neutral” rating in a report on Friday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Royal Gold presently has a consensus rating of “Moderate Buy” and a consensus price target of $225.40.

Royal Gold Price Performance

Shares of Royal Gold stock opened at $185.50 on Tuesday. The business has a 50-day simple moving average of $189.29 and a 200 day simple moving average of $178.32. Royal Gold has a one year low of $130.67 and a one year high of $209.42. The firm has a market capitalization of $15.66 billion, a price-to-earnings ratio of 27.20, a PEG ratio of 0.96 and a beta of 0.39.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last announced its quarterly earnings data on Wednesday, November 5th. The basic materials company reported $2.06 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.24). The firm had revenue of $250.23 million during the quarter, compared to analyst estimates of $275.11 million. Royal Gold had a net margin of 56.24% and a return on equity of 13.30%. The company’s revenue was up 30.1% on a year-over-year basis. During the same period last year, the business posted $1.47 EPS. On average, sell-side analysts expect that Royal Gold will post 6.2 EPS for the current year.

Royal Gold Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 16th. Shareholders of record on Friday, January 2nd will be paid a $0.475 dividend. This is a positive change from Royal Gold’s previous quarterly dividend of $0.45. The ex-dividend date is Friday, January 2nd. This represents a $1.90 annualized dividend and a yield of 1.0%. Royal Gold’s dividend payout ratio (DPR) is 24.73%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. WPG Advisers LLC bought a new stake in shares of Royal Gold during the 1st quarter worth $27,000. Cullen Frost Bankers Inc. boosted its stake in Royal Gold by 548.1% in the second quarter. Cullen Frost Bankers Inc. now owns 175 shares of the basic materials company’s stock valued at $31,000 after acquiring an additional 148 shares during the last quarter. Banque Cantonale Vaudoise bought a new position in shares of Royal Gold during the 1st quarter valued at approximately $34,000. Blue Trust Inc. increased its stake in shares of Royal Gold by 56.8% during the 2nd quarter. Blue Trust Inc. now owns 196 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 71 shares during the last quarter. Finally, Caldwell Trust Co bought a new stake in shares of Royal Gold in the 2nd quarter worth approximately $36,000. Hedge funds and other 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.