FBR & Co Boosts Royal Gold, Inc. (RGLD) Price Target to $81.00
Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) had its price target hoisted by FBR & Co from $80.00 to $81.00 in a research report released on Monday, May 15th, MarketBeat Ratings reports. They currently have an outperform rating on the basic materials company’s stock.
Several other analysts have also issued reports on the stock. Scotiabank increased their price target on shares of Royal Gold from $81.00 to $115.00 and gave the stock a sector perform rating in a research report on Friday, May 12th. Barclays PLC reiterated an overweight rating and set a $83.00 price target (up previously from $82.00) on shares of Royal Gold in a research report on Saturday, April 22nd. National Bank Financial lowered shares of Royal Gold from an outperform rating to a sector perform rating and increased their price target for the stock from $80.00 to $82.50 in a research report on Thursday, April 20th. Zacks Investment Research lowered shares of Royal Gold from a hold rating to a sell rating in a research report on Thursday, April 6th. Finally, BMO Capital Markets reiterated a buy rating and set a $88.00 price target on shares of Royal Gold in a research report on Friday, March 31st. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company has a consensus rating of Buy and an average target price of $89.13.
Royal Gold (RGLD) traded down 0.56% during midday trading on Monday, reaching $75.03. The company’s stock had a trading volume of 956,828 shares. The firm has a 50 day moving average price of $76.28 and a 200-day moving average price of $70.28. Royal Gold has a 52 week low of $60.21 and a 52 week high of $87.74. The firm has a market cap of $4.90 billion, a P/E ratio of 47.94 and a beta of 0.73.
Royal Gold (NASDAQ:RGLD) (TSE:RGL) last announced its earnings results on Wednesday, May 10th. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.38 by $0.02. Royal Gold had a return on equity of 4.22% and a net margin of 23.93%. The business had revenue of $107 million for the quarter, compared to analyst estimates of $105.14 million. During the same quarter in the previous year, the company earned $0.29 EPS. The business’s revenue for the quarter was up 14.4% on a year-over-year basis. On average, analysts forecast that Royal Gold will post $1.64 earnings per share for the current fiscal year.
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The business also recently announced a quarterly dividend, which will be paid on Friday, July 21st. Shareholders of record on Friday, July 7th will be given a $0.24 dividend. The ex-dividend date is Wednesday, July 5th. This represents a $0.96 dividend on an annualized basis and a yield of 1.28%. Royal Gold’s dividend payout ratio is currently 61.15%.
In other news, CFO Stefan Wenger sold 2,000 shares of the firm’s stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $80.06, for a total transaction of $160,120.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Tony A. Jensen sold 25,000 shares of the firm’s stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $80.00, for a total transaction of $2,000,000.00. The disclosure for this sale can be found here. Insiders have sold 35,000 shares of company stock valued at $2,758,220 in the last ninety days. Insiders own 1.37% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in RGLD. Shell Asset Management Co. acquired a new position in Royal Gold during the third quarter valued at about $1,088,000. Sprott Inc. increased its position in Royal Gold by 522.8% in the third quarter. Sprott Inc. now owns 177,109 shares of the basic materials company’s stock valued at $13,714,000 after buying an additional 148,671 shares during the last quarter. Sei Investments Co. increased its position in Royal Gold by 34.4% in the third quarter. Sei Investments Co. now owns 1,829 shares of the basic materials company’s stock valued at $142,000 after buying an additional 468 shares during the last quarter. Legacy Capital Partners Inc. increased its position in Royal Gold by 4.7% in the third quarter. Legacy Capital Partners Inc. now owns 17,700 shares of the basic materials company’s stock valued at $1,371,000 after buying an additional 800 shares during the last quarter. Finally, BlackRock Advisors LLC increased its position in Royal Gold by 1.7% in the third quarter. BlackRock Advisors LLC now owns 36,518 shares of the basic materials company’s stock valued at $2,828,000 after buying an additional 613 shares during the last quarter. 70.73% of the stock is owned by hedge funds and other institutional investors.
About Royal Gold
Royal Gold, Inc, together with its subsidiaries, is engaged in acquiring and managing precious metal streams, royalties and similar interests. The Company operates through two segments: Acquisition and Management of Stream Interests, and Acquisition and Management of Royalty Interests. Its assets are located in Canada, Chile, Dominican Republic, Mexico, the United States, Africa, Australia and Other.
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