Royal Gold, Inc. (NASDAQ:RGLD) Receives $234.60 Average PT from Analysts

Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) has earned a consensus rating of “Moderate Buy” from the eleven ratings firms that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $234.60.

Several brokerages have issued reports on RGLD. Raymond James Financial set a $264.00 price target on Royal Gold in a research note on Thursday, November 6th. Bank of America boosted their target price on shares of Royal Gold from $193.00 to $203.00 and gave the company an “underperform” rating in a research report on Thursday, October 16th. TD Cowen raised their price target on shares of Royal Gold from $261.00 to $263.00 and gave the stock a “buy” rating in a report on Tuesday, November 18th. CIBC lifted their price target on shares of Royal Gold from $225.00 to $250.00 and gave the company a “neutral” rating in a research note on Friday, October 10th. Finally, Wall Street Zen cut shares of Royal Gold from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st.

Hedge Funds Weigh In On Royal Gold

A number of institutional investors have recently modified their holdings of the company. Van ECK Associates Corp grew its position in Royal Gold by 104.1% in the 3rd quarter. Van ECK Associates Corp now owns 4,994,944 shares of the basic materials company’s stock valued at $1,001,885,000 after purchasing an additional 2,547,076 shares during the period. AQR Capital Management LLC lifted its stake in shares of Royal Gold by 68.8% in the first quarter. AQR Capital Management LLC now owns 1,682,911 shares of the basic materials company’s stock valued at $274,887,000 after buying an additional 685,857 shares in the last quarter. Norges Bank bought a new position in shares of Royal Gold in the second quarter valued at $68,029,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in shares of Royal Gold by 1,090.1% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 319,454 shares of the basic materials company’s stock valued at $56,811,000 after buying an additional 292,611 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of Royal Gold by 52.3% during the second quarter. Arrowstreet Capital Limited Partnership now owns 833,181 shares of the basic materials company’s stock worth $148,173,000 after acquiring an additional 286,268 shares in the last quarter. 83.65% of the stock is owned by institutional investors and hedge funds.

Royal Gold Stock Performance

Shares of RGLD opened at $233.22 on Friday. The company has a current ratio of 2.89, a quick ratio of 2.68 and a debt-to-equity ratio of 0.23. The firm’s fifty day simple moving average is $195.30 and its two-hundred day simple moving average is $183.39. Royal Gold has a 12 month low of $130.67 and a 12 month high of $234.38. The stock has a market capitalization of $19.68 billion, a P/E ratio of 32.04, a price-to-earnings-growth ratio of 0.89 and a beta of 0.48.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last announced its quarterly earnings data on Wednesday, November 5th. The basic materials company reported $2.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.24). Royal Gold had a net margin of 55.99% and a return on equity of 14.14%. The business had revenue of $250.23 million during the quarter, compared to analyst estimates of $275.11 million. During the same period in the prior year, the firm earned $1.47 earnings per share. The firm’s revenue for the quarter was up 30.1% compared to the same quarter last year. As a group, analysts predict that Royal Gold will post 6.2 EPS for the current year.

Royal Gold Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 16th. Shareholders of record on Friday, January 2nd will be paid a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a yield of 0.8%. This is a boost from Royal Gold’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Friday, January 2nd. Royal Gold’s payout ratio is 24.73%.

Royal Gold Company Profile

Royal Gold, Inc, headquartered in Denver, Colorado, is a leading precious metals streaming and royalty company. Through its business model, Royal Gold provides upfront financing to mining operators in exchange for the right to purchase a percentage of future metal production at predetermined prices. This structure allows the company to participate in production upside while minimizing exposure to the operating and capital-intensive aspects of mine ownership.

The company’s portfolio encompasses interests in over 200 streams and royalties on projects across North America, South America, Europe, Africa and Australia.