Royal Gold, Inc. (NASDAQ:RGLD) Stock Has Consensus Price Target of $289.64

Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) has been assigned a consensus rating of “Moderate Buy” from the thirteen analysts that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and nine have assigned a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $289.64.

RGLD has been the subject of a number of recent research reports. TD boosted their target price on shares of Royal Gold from $289.00 to $315.00 and gave the company a “buy” rating in a research report on Friday, September 18th. Zacks Research upgraded shares of Royal Gold from a “strong sell” rating to a “hold” rating in a research note on Monday, September 7th. UBS Group lifted 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. Jefferies Financial Group cut their price objective on shares of Royal Gold from $318.00 to $311.00 and set a “buy” rating for the company in a report on Monday, July 6th. Finally, Royal Bank Of Canada raised their target price on shares of Royal Gold from $305.00 to $325.00 and gave the stock an “outperform” rating in a report on Wednesday, September 16th.

Insider Buying and Selling

In other news, SVP Randy Shefman sold 500 shares of the company’s stock in a transaction on 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 sale, the senior vice president directly owned 8,082 shares in the company, valued at approximately $2,123,949.60. This represents a 5.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.35% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. QRG Capital Management Inc. lifted its position in Royal Gold by 4.8% during the second quarter. QRG Capital Management Inc. now owns 4,570 shares of the basic materials company’s stock worth $912,000 after purchasing an additional 208 shares during the period. Core Capital Management & Research inc. acquired a new stake in Royal Gold during the second quarter worth about $32,000. Integrated Wealth Concepts LLC increased its holdings in Royal Gold by 5.9% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 24,546 shares of the basic materials company’s stock valued at $4,900,000 after buying an additional 1,361 shares during the period. Allworth Financial LP increased its holdings in Royal Gold by 94.9% in the 2nd quarter. Allworth Financial LP now owns 10,449 shares of the basic materials company’s stock valued at $2,086,000 after buying an additional 5,088 shares during the period. Finally, Arizona State Retirement System raised its position in shares of Royal Gold by 1.0% in the 2nd quarter. Arizona State Retirement System now owns 23,410 shares of the basic materials company’s stock valued at $4,673,000 after buying an additional 228 shares in the last quarter. Institutional investors and hedge funds own 83.65% of the company’s stock.

Royal Gold Stock Performance

NASDAQ:RGLD opened at $240.32 on Tuesday. The stock has a market cap of $20.36 billion, a P/E ratio of 26.24, a PEG ratio of 1.90 and a beta of 0.50. The stock has a 50 day simple moving average of $238.40 and a 200 day simple moving average of $232.05. The company has a current ratio of 2.92, a quick ratio of 2.68 and a debt-to-equity ratio of 0.05. Royal Gold has a 1-year low of $168.88 and a 1-year high of $306.25.

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

Royal Gold Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Friday, October 2nd will be given a dividend of $0.4750 per share. The ex-dividend date of this dividend is Friday, October 2nd. This represents a $1.90 dividend on an annualized basis and a yield of 0.8%. Royal Gold’s dividend payout ratio is currently 20.74%.

Royal Gold Company Profile

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.