Royal Gold (NASDAQ:RGLD) Sets New 52-Week High – Still a Buy?

Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) shares hit a new 52-week high during trading on Tuesday . The stock traded as high as $236.36 and last traded at $235.78, with a volume of 53435 shares trading hands. The stock had previously closed at $229.31.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on RGLD. Scotiabank reissued an “outperform” rating on shares of Royal Gold in a report on Thursday, October 23rd. TD Cowen increased their target price 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. Jefferies Financial Group reiterated a “buy” rating and set a $270.00 price objective on shares of Royal Gold in a research report on Sunday, December 7th. Zacks Research cut Royal Gold from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 19th. Finally, Raymond James Financial set a $264.00 price target on Royal Gold in a report on Thursday, November 6th. Eight equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Royal Gold has a consensus rating of “Moderate Buy” and an average price target of $234.60.

Royal Gold Stock Performance

The company has a debt-to-equity ratio of 0.23, a current ratio of 2.89 and a quick ratio of 2.68. The company has a fifty day moving average price of $202.01 and a 200 day moving average price of $186.48. The stock has a market cap of $19.98 billion, a P/E ratio of 32.50, a P/E/G ratio of 0.57 and a beta of 0.49.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last issued its quarterly earnings data on Wednesday, November 5th. The basic materials company reported $2.06 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.24). The company had revenue of $250.23 million for the quarter, compared to the consensus estimate of $275.11 million. Royal Gold had a net margin of 55.99% and a return on equity of 14.14%. Royal Gold’s revenue was up 30.1% on a year-over-year basis. During the same quarter last year, the business posted $1.47 earnings per share. On average, equities analysts expect that Royal Gold, Inc. 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. Investors of record on Friday, January 2nd will be issued a dividend of $0.475 per share. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $1.90 dividend on an annualized basis and a dividend yield of 0.8%. This is a positive change from Royal Gold’s previous quarterly dividend of $0.45. Royal Gold’s payout ratio is 26.10%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in RGLD. Encompass More Asset Management boosted its holdings in Royal Gold by 4.2% in the third quarter. Encompass More Asset Management now owns 1,283 shares of the basic materials company’s stock valued at $257,000 after acquiring an additional 52 shares in the last quarter. Sowell Financial Services LLC lifted its stake in shares of Royal Gold by 4.0% in the third quarter. Sowell Financial Services LLC now owns 1,368 shares of the basic materials company’s stock worth $274,000 after buying an additional 52 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Royal Gold by 33.9% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 221 shares of the basic materials company’s stock worth $44,000 after purchasing an additional 56 shares in the last quarter. Compound Planning Inc. raised its position in Royal Gold by 4.4% in the 3rd quarter. Compound Planning Inc. now owns 1,315 shares of the basic materials company’s stock worth $264,000 after buying an additional 56 shares during the last quarter. Finally, Avidian Wealth Enterprises LLC lifted its position in Royal Gold by 2.3% during the third quarter. Avidian Wealth Enterprises LLC now owns 2,635 shares of the basic materials company’s stock valued at $529,000 after purchasing an additional 59 shares during the period. 83.65% of the stock is owned by hedge funds and other institutional investors.

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.