Royal Gold (NASDAQ:RGLD) Upgraded at Zacks Research

Zacks Research upgraded shares of Royal Gold (NASDAQ:RGLD) (TSE:RGL) from a hold rating to a strong-buy rating in a research note released on Monday,Zacks.com reports.

A number of other research analysts have also commented on the company. Raymond James Financial set a $264.00 price objective on Royal Gold in a report on Thursday, November 6th. TD Cowen upped their price target on shares of Royal Gold from $261.00 to $263.00 and gave the company a “buy” rating in a research note on Tuesday, November 18th. Jefferies Financial Group reiterated a “buy” rating and issued a $270.00 price objective on shares of Royal Gold in a research note on Sunday, December 7th. CIBC lifted their price target on shares of Royal Gold from $225.00 to $250.00 and gave the company a “neutral” rating in a research report on Friday, October 10th. Finally, BMO Capital Markets set a $240.00 price target on Royal Gold and gave the stock an “outperform” rating in a research report on Tuesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Royal Gold currently has an average rating of “Moderate Buy” and an average price target of $234.60.

Royal Gold Stock Performance

NASDAQ RGLD opened at $279.54 on Monday. The stock has a market cap of $23.59 billion, a PE ratio of 38.40, a P/E/G ratio of 0.76 and a beta of 0.49. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.68 and a current ratio of 2.89. The firm has a 50-day moving average of $220.80 and a 200-day moving average of $192.95. Royal Gold has a 52-week low of $135.68 and a 52-week high of $283.44.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last released its quarterly earnings results on Wednesday, November 5th. The basic materials company reported $2.06 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.24). Royal Gold had a net margin of 55.99% and a return on equity of 14.14%. The company had revenue of $250.23 million during the quarter, compared to the consensus estimate of $275.11 million. During the same period in the prior year, the company earned $1.47 earnings per share. The firm’s revenue was up 30.1% compared to the same quarter last year. On average, sell-side analysts anticipate 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 was paid on Friday, January 16th. Investors of record on Friday, January 2nd were given a dividend of $0.475 per share. The ex-dividend date was Friday, January 2nd. This represents a $1.90 dividend on an annualized basis and a yield of 0.7%. This is an increase from Royal Gold’s previous quarterly dividend of $0.45. Royal Gold’s dividend payout ratio is presently 26.10%.

Hedge Funds Weigh In On Royal Gold

Large investors have recently bought and sold shares of the company. Vermillion & White Wealth Management Group LLC bought a new position in Royal Gold in the 3rd quarter valued at approximately $29,000. Trust Co. of Toledo NA OH bought a new stake in shares of Royal Gold in the fourth quarter worth $30,000. Cullen Frost Bankers Inc. lifted its holdings in Royal Gold by 548.1% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 175 shares of the basic materials company’s stock worth $31,000 after buying an additional 148 shares during the period. Bank & Trust Co lifted its holdings in Royal Gold by 600.0% during the 4th quarter. Bank & Trust Co now owns 140 shares of the basic materials company’s stock worth $31,000 after buying an additional 120 shares during the period. Finally, Sunbelt Securities Inc. grew its position in shares of Royal Gold by 8,400.0% in the 3rd quarter. Sunbelt Securities Inc. now owns 170 shares of the basic materials company’s stock valued at $34,000 after buying an additional 168 shares during the last quarter. 83.65% of the stock is currently owned by institutional investors.

About Royal Gold

Royal Gold, Inc, headquartered in Denver, Colorado, is a leading precious metals streaming and royalty company. Through its business model, Royal Gold provides upfront financing to mining operators in exchange for the right to purchase a percentage of future metal production at predetermined prices. This structure allows the company to participate in production upside while minimizing exposure to the operating and capital-intensive aspects of mine ownership.

The company’s portfolio encompasses interests in over 200 streams and royalties on projects across North America, South America, Europe, Africa and Australia.