Royal Gold (NASDAQ:RGLD) Stock Price Expected to Rise, TD Analyst Says

Royal Gold (NASDAQ:RGLD) (TSE:RGL) had its target price boosted by equities research analysts at TD from $289.00 to $315.00 in a research report issued on Thursday, BayStreet reports. The brokerage currently has a “buy” rating on the basic materials company’s stock. TD’s price objective indicates a potential upside of 23.59% from the company’s previous close.

RGLD has been the subject of several other reports. Weiss Ratings downgraded shares of Royal Gold from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, August 4th. Royal Bank Of Canada decreased their target price on Royal Gold from $310.00 to $305.00 and set an “outperform” rating on the stock in a research report on Thursday, July 9th. Jefferies Financial Group decreased their price objective on Royal Gold from $318.00 to $311.00 and set a “buy” rating on the stock in a report on Monday, July 6th. Zacks Research raised Royal Gold from a “strong sell” rating to a “hold” rating in a report on Monday. Finally, UBS Group boosted their target price on shares of Royal Gold from $280.00 to $285.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Eight research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Royal Gold presently has a consensus rating of “Moderate Buy” and a consensus target price of $287.82.

Royal Gold Stock Down 2.9%

Shares of Royal Gold stock traded down $7.66 on Thursday, hitting $254.88. The company had a trading volume of 242,108 shares, compared to its average volume of 868,944. Royal Gold has a twelve month low of $168.88 and a twelve month high of $306.25. The firm has a market capitalization of $21.60 billion, a P/E ratio of 27.82, a P/E/G ratio of 1.97 and a beta of 0.50. The stock has a 50-day moving average of $224.07 and a 200-day moving average of $235.34. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.92 and a quick ratio of 2.68.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last posted its earnings results on Wednesday, August 5th. The basic materials company reported $2.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.55 by $0.01. The company had revenue of $468.98 million during the quarter, compared to analysts’ expectations of $458.85 million. Royal Gold had a net margin of 47.74% and a return on equity of 12.06%. Royal Gold’s quarterly revenue was up 114.9% compared to the same quarter last year. During the same quarter last year, the company posted $1.81 EPS. Research analysts predict that Royal Gold will post 10.26 earnings per share for the current year.

Insiders Place Their Bets

In other Royal Gold news, SVP Randy Shefman sold 500 shares of the firm’s stock in a transaction on Friday, August 28th. The stock was sold at an average price of $262.80, for a total value of $131,400.00. Following the sale, the senior vice president owned 8,082 shares of the company’s stock, valued at approximately $2,123,949.60. This trade represents a 5.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.35% of the stock is owned by insiders.

Institutional Investors Weigh In On Royal Gold

A number of hedge funds have recently made changes to their positions in RGLD. Bank of Nova Scotia lifted its stake in Royal Gold by 2.9% in the 1st quarter. Bank of Nova Scotia now owns 1,526 shares of the basic materials company’s stock valued at $388,000 after purchasing an additional 43 shares during the last quarter. Apollon Wealth Management LLC raised its position in Royal Gold by 1.5% in the first quarter. Apollon Wealth Management LLC now owns 2,905 shares of the basic materials company’s stock valued at $739,000 after purchasing an additional 44 shares during the last quarter. Hilltop Holdings Inc. boosted its stake in shares of Royal Gold by 0.6% during the first quarter. Hilltop Holdings Inc. now owns 7,432 shares of the basic materials company’s stock valued at $1,891,000 after purchasing an additional 46 shares in the last quarter. Compound Planning Inc. grew its holdings in shares of Royal Gold by 3.3% during the first quarter. Compound Planning Inc. now owns 1,493 shares of the basic materials company’s stock worth $380,000 after purchasing an additional 47 shares during the last quarter. Finally, Strs Ohio raised its holdings in Royal Gold by 0.6% in the 1st quarter. Strs Ohio now owns 8,611 shares of the basic materials company’s stock valued at $2,191,000 after buying an additional 48 shares during the last quarter. 83.65% of the stock is currently owned by institutional investors and hedge funds.

About Royal Gold

Royal Gold, Inc is a precious metals streaming and royalty company headquartered in Denver, Colorado. Rather than operating mines directly, the company provides financing to mining companies in exchange for the right to purchase a portion of the metals produced from certain projects at predetermined prices, or to receive revenue-based payments tied to mineral production.

Royal Gold’s portfolio is organized into two primary businesses: streams and royalties. Its streaming agreements generally provide rights to purchase gold, silver, copper or other metals from mining operations, while its royalty interests entitle the company to a percentage of revenue or production from a mine without bearing the operator’s ongoing costs.