Royal Gold, Inc. (NASDAQ:RGLD) Stock Has Average Price Target of $309.67

Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) has received an average recommendation of “Moderate Buy” from the eleven analysts that are currently covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $309.67.

Several equities research analysts have commented on RGLD shares. UBS Group increased their price objective on shares of Royal Gold from $280.00 to $285.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Raymond James Financial set a $337.00 target price on Royal Gold in a research report on Friday. Weiss Ratings upgraded Royal Gold from a “buy (b)” rating to a “buy (b+)” rating in a report on Monday. TD dropped their price target on shares of Royal Gold from $315.00 to $311.00 and set a “buy” rating on the stock in a research report on Tuesday, October 20th. Finally, Canadian Imperial Bank of Commerce set a $305.00 price objective on shares of Royal Gold in a research report on Friday, October 16th.

Insider Transactions at Royal Gold

In related news, SVP Randy Shefman sold 500 shares of Royal Gold stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $262.80, for a total transaction of $131,400.00. Following the completion of the transaction, the senior vice president owned 8,082 shares in the company, valued at approximately $2,123,949.60. This trade represents a 5.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.35% of the company’s stock.

Institutional Trading of Royal Gold

A number of hedge funds have recently made changes to their positions in RGLD. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Royal Gold during the second quarter worth $1,144,000. Clear Harbor Asset Management LLC bought a new position in shares of Royal Gold in the second quarter valued at about $1,083,000. L2 Asset Management LLC acquired a new stake in shares of Royal Gold during the 2nd quarter worth about $1,147,000. Bank of America Corp DE bought a new stake in shares of Royal Gold during the 2nd quarter worth about $88,124,000. Finally, Allworth Financial LP boosted its holdings in shares of Royal Gold by 94.9% during the 2nd quarter. Allworth Financial LP now owns 10,449 shares of the basic materials company’s stock worth $2,086,000 after buying an additional 5,088 shares during the period. 83.65% of the stock is owned by institutional investors and hedge funds.

Royal Gold Stock Performance

Shares of RGLD stock opened at $274.57 on Wednesday. Royal Gold has a 12 month low of $181.01 and a 12 month high of $306.25. The company’s fifty day simple moving average is $245.02 and its 200-day simple moving average is $241.11. The firm has a market cap of $23.21 billion, a PE ratio of 27.68, a P/E/G ratio of 2.04 and a beta of 0.46. The company has a quick ratio of 2.21, a current ratio of 2.40 and a debt-to-equity ratio of 0.02.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last released its earnings results on Wednesday, November 4th. The basic materials company reported $2.80 earnings per share for the quarter, beating analysts’ consensus estimates of $2.77 by $0.03. Royal Gold had a net margin of 47.69% and a return on equity of 11.67%. The business had revenue of $464.77 million during the quarter, compared to the consensus estimate of $459.84 million. During the same quarter last year, the firm earned $2.06 earnings per share. The firm’s revenue for the quarter was up 84.4% compared to the same quarter last year. Equities research analysts expect that Royal Gold will post 10.71 EPS for the current fiscal year.

Royal Gold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 16th. Investors of record on Friday, October 2nd were paid a $0.4750 dividend. This represents a $1.90 annualized dividend and a yield of 0.7%. The ex-dividend date was Friday, October 2nd. Royal Gold’s dividend payout ratio (DPR) is 19.15%.

Royal Gold Company Profile

Royal Gold, Inc. is a precious metals company that finances mining operations through royalty and streaming agreements. Rather than operating mines itself, the company acquires interests that give it rights to payments or a share of future metal production from mines operated by other companies. Under a streaming agreement, Royal Gold provides financing in exchange for the right to purchase a specified portion of a mine’s future production at an agreed price. Its royalties generally entitle it to payments tied to a mine’s production or revenue.