BMO Capital Markets Increases Royal Gold (NASDAQ:RGLD) Price Target to $170.00

Royal Gold (NASDAQ:RGLDFree Report) (TSE:RGL) had its price objective raised by BMO Capital Markets from $168.00 to $170.00 in a report issued on Wednesday morning, Benzinga reports. The firm currently has an outperform rating on the basic materials company’s stock.

Several other research analysts have also issued reports on the company. Scotiabank increased their price target on Royal Gold from $144.00 to $148.00 and gave the stock a sector perform rating in a report on Thursday, May 23rd. Bank of America raised their target price on Royal Gold from $129.00 to $131.00 and gave the company an underperform rating in a report on Wednesday, June 26th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of $149.75.

Get Our Latest Analysis on RGLD

Royal Gold Stock Up 1.3 %

Shares of NASDAQ:RGLD opened at $133.09 on Wednesday. The business’s 50 day simple moving average is $126.80 and its two-hundred day simple moving average is $119.77. The firm has a market cap of $8.75 billion, a P/E ratio of 39.26, a PEG ratio of 1.08 and a beta of 0.87. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.35 and a current ratio of 2.50. Royal Gold has a 52-week low of $100.55 and a 52-week high of $134.56.

Royal Gold (NASDAQ:RGLDGet Free Report) (TSE:RGL) last announced its quarterly earnings results on Wednesday, May 8th. The basic materials company reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.04). The firm had revenue of $148.90 million during the quarter, compared to the consensus estimate of $147.02 million. Royal Gold had a return on equity of 7.96% and a net margin of 38.12%. The firm’s revenue was down 12.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.96 EPS. As a group, research analysts forecast that Royal Gold will post 4.56 EPS for the current fiscal year.

Royal Gold Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 19th. Investors of record on Friday, July 5th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date of this dividend is Friday, July 5th. Royal Gold’s payout ratio is 47.20%.

Insider Activity at Royal Gold

In related news, SVP Daniel Breeze sold 1,500 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $130.73, for a total transaction of $196,095.00. Following the completion of the sale, the senior vice president now directly owns 14,840 shares of the company’s stock, valued at $1,940,033.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.52% of the stock is currently owned by company insiders.

Institutional Trading of Royal Gold

A number of institutional investors and hedge funds have recently modified their holdings of the business. Capital World Investors increased its position in shares of Royal Gold by 0.6% during the fourth quarter. Capital World Investors now owns 8,169,223 shares of the basic materials company’s stock valued at $988,149,000 after acquiring an additional 47,807 shares during the last quarter. Vanguard Group Inc. increased its position in Royal Gold by 0.3% in the first quarter. Vanguard Group Inc. now owns 6,664,975 shares of the basic materials company’s stock worth $811,861,000 after buying an additional 21,407 shares during the last quarter. Van ECK Associates Corp increased its position in Royal Gold by 6.8% in the first quarter. Van ECK Associates Corp now owns 4,595,734 shares of the basic materials company’s stock worth $559,807,000 after buying an additional 292,357 shares during the last quarter. First Eagle Investment Management LLC increased its position in Royal Gold by 1.0% in the fourth quarter. First Eagle Investment Management LLC now owns 3,667,169 shares of the basic materials company’s stock worth $443,581,000 after buying an additional 37,885 shares during the last quarter. Finally, Kopernik Global Investors LLC increased its position in Royal Gold by 12.3% in the fourth quarter. Kopernik Global Investors LLC now owns 671,723 shares of the basic materials company’s stock worth $81,252,000 after buying an additional 73,642 shares during the last quarter. 83.65% of the stock is owned by hedge funds and other institutional investors.

Royal Gold Company Profile

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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.

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