Royal Gold (NASDAQ:RGLD) Reaches New 12-Month High – Here’s Why

Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $147.90 and last traded at $147.79, with a volume of 118343 shares changing hands. The stock had previously closed at $145.79.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. BMO Capital Markets raised their price target on shares of Royal Gold from $168.00 to $170.00 and gave the company an “outperform” rating in a report on Wednesday, July 10th. Raymond James boosted their price target on Royal Gold from $167.00 to $170.00 and gave the stock an “outperformer” rating in a research note on Friday, August 9th. Jefferies Financial Group upped their target price on Royal Gold from $141.00 to $154.00 and gave the company a “hold” rating in a research report on Friday, October 4th. Bank of America upped their target price on shares of Royal Gold from $129.00 to $131.00 and gave the company an “underperform” rating in a research note on Wednesday, June 26th. Finally, Scotiabank lifted their price target on Royal Gold from $148.00 to $157.00 and gave the stock a “sector perform” rating in a research note on Monday, August 19th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $158.86.

Royal Gold Stock Performance

The firm has a market cap of $9.69 billion, a P/E ratio of 43.54, a P/E/G ratio of 1.17 and a beta of 0.90. The firm has a fifty day moving average of $138.90 and a 200-day moving average of $131.60.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last announced its quarterly earnings results on Wednesday, August 7th. The basic materials company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.07. The company had revenue of $174.10 million during the quarter, compared to the consensus estimate of $172.12 million. Royal Gold had a net margin of 39.15% and a return on equity of 8.74%. The company’s revenue for the quarter was up 20.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.88 earnings per share. Equities research analysts expect that Royal Gold, Inc. will post 4.89 earnings per share for the current year.

Royal Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Friday, October 4th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date is Friday, October 4th. Royal Gold’s dividend payout ratio (DPR) is 47.20%.

Insider Activity at Royal Gold

In related news, SVP Daniel Breeze sold 840 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $143.43, for a total transaction of $120,481.20. Following the sale, the senior vice president now owns 16,842 shares of the company’s stock, valued at $2,415,648.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Royal Gold news, Director Ronald J. Vance sold 1,000 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $132.16, for a total value of $132,160.00. Following the transaction, the director now owns 9,109 shares of the company’s stock, valued at approximately $1,203,845.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Daniel Breeze sold 840 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $143.43, for a total value of $120,481.20. Following the sale, the senior vice president now owns 16,842 shares of the company’s stock, valued at $2,415,648.06. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,355 shares of company stock worth $1,170,315 in the last three months. 0.52% of the stock is owned by company insiders.

Hedge Funds Weigh In On Royal Gold

Hedge funds and other institutional investors have recently modified their holdings of the stock. Fidelis Capital Partners LLC acquired a new position in Royal Gold in the 1st quarter worth approximately $36,000. Compagnie Lombard Odier SCmA purchased a new stake in shares of Royal Gold in the third quarter valued at $49,000. Janiczek Wealth Management LLC boosted its position in shares of Royal Gold by 321.8% in the first quarter. Janiczek Wealth Management LLC now owns 426 shares of the basic materials company’s stock worth $52,000 after buying an additional 325 shares during the period. Mather Group LLC. purchased a new position in shares of Royal Gold during the second quarter valued at $62,000. Finally, 1832 Asset Management L.P. acquired a new position in Royal Gold during the second quarter valued at $65,000. Institutional investors and hedge funds 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.