B. Riley Raises Royal Gold (NASDAQ:RGLD) Price Target to $132.90
Royal Gold (NASDAQ:RGLD) (TSE:RGL) had its price objective hoisted by B. Riley from $132.50 to $132.90 in a research note released on Monday morning, BenzingaRatingsTable reports. The firm currently has a buy rating on the basic materials company’s stock.
A number of other equities analysts have also recently commented on the company. CIBC cut Royal Gold from a sector outperform rating to a neutral rating in a report on Thursday, August 1st. Canaccord Genuity cut Royal Gold from a buy rating to a hold rating and set a $98.00 target price for the company. in a report on Wednesday, June 19th. Barclays cut Royal Gold from an equal weight rating to an underweight rating and raised their target price for the company from $88.00 to $105.00 in a report on Tuesday, July 16th. ValuEngine upgraded Royal Gold from a hold rating to a buy rating in a report on Monday, June 3rd. Finally, National Bank Financial raised their target price on Royal Gold from $112.50 to $117.50 and gave the company a sector perform rating in a report on Thursday, August 8th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $111.93.
Shares of Royal Gold stock opened at $123.13 on Monday. The business has a 50-day moving average of $126.15 and a 200 day moving average of $101.45. Royal Gold has a 12 month low of $70.16 and a 12 month high of $138.78. The stock has a market capitalization of $8.15 billion, a price-to-earnings ratio of 84.92, a price-to-earnings-growth ratio of 4.84 and a beta of 0.16. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.60 and a quick ratio of 4.26.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Friday, October 4th will be paid a $0.265 dividend. This represents a $1.06 annualized dividend and a dividend yield of 0.86%. The ex-dividend date is Thursday, October 3rd. Royal Gold’s payout ratio is presently 73.10%.
In other news, CEO Tony A. Jensen sold 46,570 shares of Royal Gold stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $124.59, for a total value of $5,802,156.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Bruce Christopher Kirchhoff sold 1,417 shares of Royal Gold stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $127.16, for a total value of $180,185.72. Following the completion of the transaction, the vice president now owns 48,826 shares of the company’s stock, valued at approximately $6,208,714.16. The disclosure for this sale can be found here. Insiders sold a total of 87,603 shares of company stock valued at $11,107,708 in the last quarter. Company insiders own 0.95% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. CENTRAL TRUST Co boosted its stake in shares of Royal Gold by 375.0% in the 2nd quarter. CENTRAL TRUST Co now owns 475 shares of the basic materials company’s stock valued at $51,000 after buying an additional 375 shares during the period. WealthStone Inc. acquired a new stake in shares of Royal Gold during the 2nd quarter worth about $63,000. NumerixS Investment Technologies Inc acquired a new stake in shares of Royal Gold during the 2nd quarter worth about $64,000. Sandy Spring Bank raised its position in shares of Royal Gold by 375.7% during the 2nd quarter. Sandy Spring Bank now owns 1,037 shares of the basic materials company’s stock worth $106,000 after acquiring an additional 819 shares in the last quarter. Finally, Signaturefd LLC raised its position in shares of Royal Gold by 77.5% during the 1st quarter. Signaturefd LLC now owns 1,154 shares of the basic materials company’s stock worth $105,000 after acquiring an additional 504 shares in the last quarter. Institutional investors and hedge funds own 78.86% 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. It focuses on acquiring stream and royalty interests or to finance projects that are in production or in development stage in exchange for stream or royalty interests, which primarily consists of gold, silver, copper, nickel, zinc, lead, cobalt, and molybdenum.
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