Royal Gold (NASDAQ:RGLD) Price Target Raised to $215.00

Royal Gold (NASDAQ:RGLD) (TSE:RGL) had its target price hoisted by CIBC from $202.00 to $215.00 in a research note published on Thursday,Benzinga reports. They currently have a neutral rating on the basic materials company’s stock.

Several other brokerages also recently issued reports on RGLD. Royal Bank of Canada reduced their price target on shares of Royal Gold from $175.00 to $170.00 and set an “outperform” rating on the stock in a report on Friday, April 4th. BMO Capital Markets assumed coverage on Royal Gold in a report on Wednesday, April 16th. They set a “market perform” rating and a $196.00 target price on the stock. Scotiabank raised Royal Gold from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the stock from $166.00 to $189.00 in a report on Monday, April 14th. Finally, Raymond James upped their price objective on Royal Gold from $181.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, April 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $183.00.

Royal Gold Trading Up 3.2 %

RGLD stock opened at $184.36 on Thursday. The firm has a 50 day moving average of $168.07 and a 200-day moving average of $151.80. The company has a market cap of $12.13 billion, a price-to-earnings ratio of 36.58, a PEG ratio of 3.42 and a beta of 0.48. Royal Gold has a 12-month low of $119.72 and a 12-month high of $191.78.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last posted its earnings results on Wednesday, May 7th. The basic materials company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.14. The company had revenue of $193.44 million for the quarter, compared to analyst estimates of $176.17 million. Royal Gold had a return on equity of 11.46% and a net margin of 46.15%. Royal Gold’s revenue was up 29.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.91 earnings per share. Sell-side analysts forecast that Royal Gold will post 6.2 earnings per share for the current fiscal year.

Royal Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 17th. Stockholders of record on Friday, April 4th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, April 4th. This represents a $1.80 annualized dividend and a dividend yield of 0.98%. Royal Gold’s payout ratio is currently 29.80%.

Insider Activity at Royal Gold

In other news, SVP Randy Shefman sold 1,300 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $154.98, for a total transaction of $201,474.00. Following the completion of the sale, the senior vice president now owns 9,360 shares in the company, valued at approximately $1,450,612.80. The trade was a 12.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.49% of the stock is owned by insiders.

Institutional Investors Weigh In On Royal Gold

Several institutional investors have recently bought and sold shares of RGLD. Franklin Resources Inc. boosted its position in Royal Gold by 303.3% during the 3rd quarter. Franklin Resources Inc. now owns 28,546 shares of the basic materials company’s stock worth $4,063,000 after purchasing an additional 21,468 shares during the period. Diversified Trust Co acquired a new position in shares of Royal Gold during the fourth quarter worth about $264,000. Wealth Enhancement Advisory Services LLC boosted its position in shares of Royal Gold by 1.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 13,461 shares of the basic materials company’s stock worth $1,889,000 after buying an additional 158 shares during the period. BCS Wealth Management acquired a new stake in shares of Royal Gold in the fourth quarter valued at about $2,722,000. Finally, Laurel Wealth Advisors LLC purchased a new stake in shares of Royal Gold during the 4th quarter valued at about $105,000. 83.65% of the stock is currently owned by hedge funds and other institutional investors.

Royal Gold Company Profile

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.