Royal Gold (NASDAQ:RGLD) Price Target Raised to $315.00

Royal Gold (NASDAQ:RGLD) (TSE:RGL) had its target price lifted by TD from $289.00 to $315.00 in a research report sent to investors on Friday,BayStreet reports. TD currently has a buy rating on the basic materials company’s stock.

A number of other analysts have also recently weighed in on RGLD. Scotiabank reissued a “sector perform” rating and issued a $310.00 target price on shares of Royal Gold in a research note on Tuesday, July 14th. Royal Bank Of Canada raised their price target on shares of Royal Gold from $305.00 to $325.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 16th. Zacks Research raised Royal Gold from a “strong sell” rating to a “hold” rating in a report on Monday, September 7th. UBS Group upped their price objective on Royal Gold from $280.00 to $285.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Finally, Weiss Ratings cut Royal Gold from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, August 4th. Eight research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $289.64.

Royal Gold Price Performance

RGLD opened at $249.65 on Friday. The company has a market capitalization of $21.15 billion, a P/E ratio of 27.25, a P/E/G ratio of 1.88 and a beta of 0.50. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.92 and a quick ratio of 2.68. The firm’s fifty day moving average price is $231.23 and its two-hundred day moving average price is $233.28. Royal Gold has a fifty-two week low of $168.88 and a fifty-two week high of $306.25.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last announced its quarterly earnings data on Wednesday, August 5th. The basic materials company reported $2.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.55 by $0.01. The company had revenue of $468.98 million during the quarter, compared to analysts’ expectations of $458.85 million. Royal Gold had a net margin of 47.74% and a return on equity of 12.06%. The business’s revenue was up 114.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.81 EPS. On average, analysts anticipate that Royal Gold will post 10.26 EPS for the current year.

Royal Gold Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Friday, October 2nd will be issued a $0.475 dividend. The ex-dividend date of this dividend is Friday, October 2nd. This represents a $1.90 annualized dividend and a dividend yield of 0.8%. Royal Gold’s dividend payout ratio is presently 20.74%.

Insider Activity

In related news, SVP Randy Shefman sold 500 shares of Royal Gold stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $262.80, for a total transaction of $131,400.00. Following the completion of the transaction, the senior vice president directly owned 8,082 shares of the company’s stock, valued at $2,123,949.60. This trade represents a 5.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.35% of the stock is owned by company insiders.

Institutional Trading of Royal Gold

Several hedge funds have recently modified their holdings of the company. BlackRock Inc. bought a new position in shares of Royal Gold in the second quarter valued at approximately $2,177,865,000. Capital International Investors bought a new stake in Royal Gold during the 4th quarter worth approximately $332,026,000. Van ECK Associates Corp grew its position in Royal Gold by 18.1% during the 4th quarter. Van ECK Associates Corp now owns 5,900,432 shares of the basic materials company’s stock worth $1,311,607,000 after acquiring an additional 905,488 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Royal Gold by 89.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,855,877 shares of the basic materials company’s stock valued at $412,543,000 after purchasing an additional 874,329 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in Royal Gold during the 2nd quarter valued at $150,762,000. Institutional investors and hedge funds own 83.65% of the company’s stock.

About Royal Gold

Royal Gold, Inc is a precious metals streaming and royalty company headquartered in Denver, Colorado. Rather than operating mines directly, the company provides financing to mining companies in exchange for the right to purchase a portion of the metals produced from certain projects at predetermined prices, or to receive revenue-based payments tied to mineral production.

Royal Gold’s portfolio is organized into two primary businesses: streams and royalties. Its streaming agreements generally provide rights to purchase gold, silver, copper or other metals from mining operations, while its royalty interests entitle the company to a percentage of revenue or production from a mine without bearing the operator’s ongoing costs.