TD Securities Issues Positive Forecast for Royal Gold (NASDAQ:RGLD) Stock Price

Royal Gold (NASDAQ:RGLD) (TSE:RGL) had its target price raised by TD Securities from $181.00 to $185.00 in a report issued on Thursday morning,BayStreet.CA reports. The firm currently has a buy rating on the basic materials company’s stock.

Several other analysts also recently weighed in on the stock. StockNews.com raised shares of Royal Gold from a “hold” rating to a “buy” rating in a research note on Thursday, September 19th. Jefferies Financial Group lifted 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. Cibc World Mkts raised Royal Gold to a “hold” rating in a research report on Wednesday, July 10th. CIBC lifted their price objective on Royal Gold from $166.00 to $175.00 and gave the company a “neutral” rating in a report on Wednesday, July 10th. Finally, Raymond James upped their price objective on shares of Royal Gold from $167.00 to $170.00 and gave the stock an “outperformer” rating in a research note on Friday, August 9th. 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $163.14.

Royal Gold Stock Performance

Royal Gold stock traded up $2.62 during mid-day trading on Thursday, hitting $149.93. The company’s stock had a trading volume of 323,972 shares, compared to its average volume of 366,239. The company has a 50 day moving average of $143.42 and a 200-day moving average of $134.66. Royal Gold has a one year low of $100.55 and a one year high of $155.10. The stock has a market cap of $9.86 billion, a PE ratio of 33.67, a P/E/G ratio of 1.19 and a beta of 0.90.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last posted its quarterly earnings results on Wednesday, November 6th. The basic materials company reported $1.47 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.13. Royal Gold had a net margin of 42.93% and a return on equity of 10.28%. The firm had revenue of $193.84 million for the quarter, compared to analysts’ expectations of $184.12 million. During the same period in the prior year, the business posted $0.76 earnings per share. The business’s revenue for the quarter was up 39.8% on a year-over-year basis. On average, equities research analysts forecast that Royal Gold will post 4.99 EPS for the current fiscal year.

Royal Gold Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Friday, October 4th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.07%. The ex-dividend date was Friday, October 4th. Royal Gold’s dividend payout ratio is presently 36.70%.

Insiders Place Their Bets

In related news, SVP Daniel Breeze sold 840 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $143.43, for a total value of $120,481.20. Following the transaction, the senior vice president now directly owns 16,842 shares of the company’s stock, valued at $2,415,648.06. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Paul Libner sold 1,500 shares of the company’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $142.53, for a total value of $213,795.00. Following the sale, the chief financial officer now directly owns 18,657 shares of the company’s stock, valued at $2,659,182.21. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Daniel Breeze sold 840 shares of the firm’s stock in a transaction 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 transaction, the senior vice president now directly owns 16,842 shares of the company’s stock, valued at approximately $2,415,648.06. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 8,355 shares of company stock valued at $1,170,315. Insiders own 0.52% of the company’s stock.

Institutional Investors Weigh In On Royal Gold

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Royal Gold by 0.3% during the first quarter. Vanguard Group Inc. now owns 6,664,975 shares of the basic materials company’s stock worth $811,861,000 after acquiring an additional 21,407 shares during the period. Van ECK Associates Corp grew its stake in shares of Royal Gold by 1.1% during the 3rd quarter. Van ECK Associates Corp now owns 3,637,739 shares of the basic materials company’s stock worth $553,810,000 after purchasing an additional 39,394 shares during the period. First Eagle Investment Management LLC increased its holdings in shares of Royal Gold by 0.6% during the 2nd quarter. First Eagle Investment Management LLC now owns 3,584,967 shares of the basic materials company’s stock valued at $448,694,000 after purchasing an additional 20,508 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Royal Gold by 34.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 834,986 shares of the basic materials company’s stock valued at $104,507,000 after purchasing an additional 212,316 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Royal Gold by 24.0% during the second quarter. Dimensional Fund Advisors LP now owns 806,872 shares of the basic materials company’s stock worth $100,991,000 after buying an additional 156,048 shares in the last quarter. 83.65% of the stock is owned by institutional investors and hedge funds.

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.