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

Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) has been given a consensus recommendation of “Moderate Buy” by the eleven ratings firms that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $234.60.

Several equities analysts have recently issued reports on the stock. CIBC lifted their price objective on shares of Royal Gold from $225.00 to $250.00 and gave the stock a “neutral” rating in a research note on Friday, October 10th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Royal Gold in a report on Wednesday, October 8th. BMO Capital Markets set a $240.00 price objective on Royal Gold and gave the company an “outperform” rating in a research report on Tuesday, October 21st. Scotiabank restated an “outperform” rating on shares of Royal Gold in a report on Thursday, October 23rd. Finally, Zacks Research downgraded Royal Gold from a “strong-buy” rating to a “hold” rating in a report on Friday, December 19th.

Royal Gold Stock Up 2.3%

RGLD opened at $265.12 on Thursday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.68 and a current ratio of 2.89. The company has a market capitalization of $22.38 billion, a PE ratio of 36.42, a P/E/G ratio of 0.70 and a beta of 0.49. The stock’s fifty day moving average is $217.28 and its 200-day moving average is $191.65. Royal Gold has a one year low of $135.68 and a one year high of $265.48.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last announced its earnings results 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). Royal Gold had a net margin of 55.99% and a return on equity of 14.14%. The firm had revenue of $250.23 million for the quarter, compared to the consensus estimate of $275.11 million. During the same period in the prior year, the business earned $1.47 EPS. The company’s quarterly revenue was up 30.1% compared to the same quarter last year. On average, equities analysts predict that Royal Gold will post 6.2 EPS for the current fiscal year.

Royal Gold Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Friday, January 2nd were paid a dividend of $0.475 per share. This is a boost from Royal Gold’s previous quarterly dividend of $0.45. This represents a $1.90 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Friday, January 2nd. Royal Gold’s payout ratio is currently 26.10%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in RGLD. Capital World Investors boosted its stake in Royal Gold by 1.0% in the 3rd quarter. Capital World Investors now owns 9,055,075 shares of the basic materials company’s stock worth $1,816,267,000 after purchasing an additional 93,282 shares during the period. Van ECK Associates Corp raised its stake in shares of Royal Gold by 104.1% during the 3rd quarter. Van ECK Associates Corp now owns 4,994,944 shares of the basic materials company’s stock worth $1,001,885,000 after purchasing an additional 2,547,076 shares in the last quarter. State Street Corp lifted its holdings in shares of Royal Gold by 5.4% during the 3rd quarter. State Street Corp now owns 3,321,868 shares of the basic materials company’s stock valued at $666,300,000 after buying an additional 170,430 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of Royal Gold by 8.2% in the 2nd quarter. AQR Capital Management LLC now owns 1,820,435 shares of the basic materials company’s stock valued at $319,140,000 after buying an additional 137,524 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Royal Gold by 3.6% in the second quarter. Geode Capital Management LLC now owns 1,751,136 shares of the basic materials company’s stock worth $311,457,000 after buying an additional 61,352 shares during the last quarter. 83.65% of the stock is owned by hedge funds and other institutional investors.

About Royal Gold

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.