Royal Gold (NASDAQ:RGLD) Price Target Raised to $161.00

Royal Gold (NASDAQ:RGLD) (TSE:RGL) had its price objective raised by BMO Capital Markets from $160.00 to $161.00 in a research note published on Tuesday morning, BayStreet.CA reports. The firm currently has an outperform rating on the basic materials company’s stock.

A number of other analysts also recently weighed in on RGLD. Cantor Fitzgerald downgraded shares of Royal Gold from an overweight rating to a neutral rating in a research report on Thursday, February 15th. Jefferies Financial Group started coverage on shares of Royal Gold in a research report on Thursday, February 29th. They issued a hold rating and a $117.00 target price on the stock. Finally, National Bank Financial raised shares of Royal Gold from a sector perform rating to an outperform rating in a research report on Thursday, February 15th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Royal Gold currently has a consensus rating of Hold and a consensus target price of $142.13.

Royal Gold Stock Down 1.4 %

Shares of NASDAQ RGLD opened at $128.68 on Tuesday. The company has a current ratio of 2.50, a quick ratio of 2.35 and a debt-to-equity ratio of 0.05. Royal Gold has a 12 month low of $100.55 and a 12 month high of $134.56. The firm has a market capitalization of $8.46 billion, a PE ratio of 37.96, a price-to-earnings-growth ratio of 1.13 and a beta of 0.88. The firm has a fifty day simple moving average of $122.03 and a two-hundred day simple moving average of $117.38.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last issued its quarterly earnings data on Wednesday, May 8th. The basic materials company reported $0.91 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.04). Royal Gold had a return on equity of 7.96% and a net margin of 38.12%. The company had revenue of $148.90 million during the quarter, compared to the consensus estimate of $147.02 million. During the same quarter last year, the company posted $0.96 earnings per share. The firm’s revenue for the quarter was down 12.6% compared to the same quarter last year. Equities analysts expect that Royal Gold will post 4.51 earnings per share for the current year.

Royal Gold Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 19th. Shareholders of record on Friday, April 5th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.24%. The ex-dividend date was Thursday, April 4th. Royal Gold’s dividend payout ratio is currently 47.20%.

Insider Buying and Selling at Royal Gold

In other Royal Gold news, SVP Daniel Breeze sold 1,500 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $130.73, for a total transaction of $196,095.00. Following the transaction, the senior vice president now owns 14,840 shares in the company, valued at approximately $1,940,033.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Royal Gold news, SVP Daniel Breeze sold 1,500 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $130.73, for a total transaction of $196,095.00. Following the transaction, the senior vice president now owns 14,840 shares in the company, valued at approximately $1,940,033.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Randy Shefman sold 500 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $113.00, for a total transaction of $56,500.00. Following the completion of the transaction, the senior vice president now owns 12,127 shares in the company, valued at approximately $1,370,351. The disclosure for this sale can be found here. Company insiders own 0.52% of the company’s stock.

Hedge Funds Weigh In On Royal Gold

Several institutional investors have recently made changes to their positions in the business. Capital World Investors lifted its stake in shares of Royal Gold by 0.6% in the 4th quarter. Capital World Investors now owns 8,169,223 shares of the basic materials company’s stock worth $988,149,000 after purchasing an additional 47,807 shares during the period. Vanguard Group Inc. lifted its stake in shares of Royal Gold by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 6,664,975 shares of the basic materials company’s stock worth $811,861,000 after purchasing an additional 21,407 shares during the period. Van ECK Associates Corp raised its stake in Royal Gold by 6.8% during the 1st quarter. Van ECK Associates Corp now owns 4,595,734 shares of the basic materials company’s stock worth $559,807,000 after acquiring an additional 292,357 shares during the period. First Eagle Investment Management LLC raised its stake in Royal Gold by 1.0% during the 4th quarter. First Eagle Investment Management LLC now owns 3,667,169 shares of the basic materials company’s stock worth $443,581,000 after acquiring an additional 37,885 shares during the period. Finally, Northern Trust Corp raised its stake in Royal Gold by 0.5% during the 3rd quarter. Northern Trust Corp now owns 699,138 shares of the basic materials company’s stock worth $74,339,000 after acquiring an additional 3,541 shares during the period. Institutional investors own 83.65% of the company’s stock.

About Royal Gold

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.