National Bank Financial Lowers Royal Gold (NASDAQ:RGLD) Price Target to $340.00

Royal Gold (NASDAQ:RGLD) (TSE:RGL) had its price objective reduced by equities researchers at National Bank Financial from $350.00 to $340.00 in a research note issued on Friday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the basic materials company’s stock. National Bank Financial’s price target indicates a potential upside of 26.81% from the stock’s previous close.

A number of other equities research analysts have also weighed in on RGLD. Scotiabank lowered Royal Gold from a “sector outperform” rating to a “sector perform” rating and set a $335.00 price objective on the stock. in a research report on Monday, January 26th. Zacks Research lowered Royal Gold from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 17th. UBS Group set a $325.00 price objective on Royal Gold and gave the stock a “buy” rating in a research report on Wednesday. Weiss Ratings reiterated a “buy (b)” rating on shares of Royal Gold in a research report on Thursday, January 22nd. Finally, Canadian Imperial Bank of Commerce reiterated a “neutral” rating and issued a $330.00 price objective on shares of Royal Gold in a research report on Wednesday, February 4th. Eight investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $273.64.

Royal Gold Price Performance

Shares of Royal Gold stock opened at $268.12 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.12 and a quick ratio of 2.91. The business’s 50 day simple moving average is $266.68 and its two-hundred day simple moving average is $234.58. The stock has a market capitalization of $22.75 billion, a P/E ratio of 39.37, a price-to-earnings-growth ratio of 1.57 and a beta of 0.55. Royal Gold has a one year low of $150.75 and a one year high of $306.25.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last announced its quarterly earnings results on Wednesday, February 18th. The basic materials company reported $1.92 EPS for the quarter, missing analysts’ consensus estimates of $2.68 by ($0.76). The company had revenue of $310.83 million during the quarter, compared to analysts’ expectations of $425.47 million. Royal Gold had a return on equity of 11.89% and a net margin of 45.26%.Royal Gold’s revenue for the quarter was up 85.2% on a year-over-year basis. During the same period last year, the firm earned $1.63 earnings per share. Analysts forecast that Royal Gold will post 6.2 EPS for the current year.

Insider Activity at Royal Gold

In related news, Director Mark Isto sold 2,000 shares of Royal Gold stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $274.83, for a total transaction of $549,660.00. Following the sale, the director directly owned 20,043 shares in the company, valued at $5,508,417.69. The trade was a 9.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Daniel Breeze sold 1,400 shares of Royal Gold stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $300.87, for a total value of $421,218.00. Following the sale, the senior vice president owned 20,140 shares in the company, valued at $6,059,521.80. This represents a 6.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 7,573 shares of company stock worth $2,127,091 over the last ninety days. 0.49% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Royal Gold

Hedge funds have recently made changes to their positions in the company. Elyxium Wealth LLC bought a new stake in shares of Royal Gold during the fourth quarter valued at approximately $27,000. Gen Wealth Partners Inc bought a new stake in shares of Royal Gold during the fourth quarter valued at approximately $27,000. Vermillion & White Wealth Management Group LLC bought a new stake in shares of Royal Gold during the third quarter valued at approximately $29,000. Trust Co. of Toledo NA OH bought a new stake in shares of Royal Gold during the fourth quarter valued at approximately $30,000. Finally, V Square Quantitative Management LLC bought a new stake in Royal Gold in the fourth quarter worth $30,000. 83.65% of the stock is currently owned by institutional investors.

Royal Gold Company Profile

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.