Royal Gold, Inc. (NASDAQ:RGLD) Receives $139.15 Average Price Target from Brokerages

Shares of Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) have earned an average recommendation of “Hold” from the eleven ratings firms that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and four have given a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $139.15.

A number of equities analysts have issued reports on RGLD shares. Raymond James set a $146.00 target price on Royal Gold and gave the company an “outperform” rating in a research report on Friday, July 2nd. KeyCorp started coverage on Royal Gold in a research report on Friday. They issued a “sector weight” rating on the stock. National Bank Financial cut their target price on Royal Gold from C$160.00 to C$155.00 and set a “sector perform” rating on the stock in a research report on Friday, September 10th. Royal Bank of Canada reiterated an “outperform” rating and issued a $117.21 price target on shares of Royal Gold in a report on Monday, July 26th. Finally, BMO Capital Markets boosted their price target on Royal Gold from $138.00 to $145.00 and gave the company a “market perform” rating in a report on Friday, August 13th.

In other news, VP Randy Shefman sold 1,000 shares of the company’s stock in a transaction on Tuesday, August 31st. The stock was sold at an average price of $111.19, for a total value of $111,190.00. Following the completion of the sale, the vice president now owns 8,006 shares in the company, valued at $890,187.14. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Paul Libner sold 921 shares of the company’s stock in a transaction on Friday, August 27th. The shares were sold at an average price of $112.58, for a total value of $103,686.18. Following the completion of the sale, the chief financial officer now owns 15,198 shares of the company’s stock, valued at approximately $1,710,990.84. The disclosure for this sale can be found here. 0.38% of the stock is owned by corporate insiders.

A number of large investors have recently bought and sold shares of the stock. Morgan Stanley increased its position in Royal Gold by 97.6% in the 1st quarter. Morgan Stanley now owns 2,430,978 shares of the basic materials company’s stock worth $261,622,000 after purchasing an additional 1,200,902 shares during the last quarter. First Eagle Investment Management LLC increased its position in Royal Gold by 30.9% in the 1st quarter. First Eagle Investment Management LLC now owns 3,476,354 shares of the basic materials company’s stock worth $374,125,000 after purchasing an additional 821,293 shares during the last quarter. NFJ Investment Group LLC acquired a new position in Royal Gold in the 1st quarter worth about $37,906,000. FMR LLC increased its position in Royal Gold by 87.1% in the 2nd quarter. FMR LLC now owns 650,650 shares of the basic materials company’s stock worth $74,239,000 after purchasing an additional 302,936 shares during the last quarter. Finally, Amundi acquired a new position in Royal Gold in the 2nd quarter worth about $30,294,000. 79.30% of the stock is currently owned by hedge funds and other institutional investors.

Royal Gold stock traded down $1.19 during midday trading on Monday, hitting $99.04. 345,171 shares of the company were exchanged, compared to its average volume of 408,875. The company’s fifty day moving average price is $112.27 and its 200-day moving average price is $114.61. The company has a market cap of $6.50 billion, a PE ratio of 21.79, a price-to-earnings-growth ratio of 2.70 and a beta of 0.61. Royal Gold has a fifty-two week low of $98.87 and a fifty-two week high of $129.69.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last announced its earnings results on Wednesday, August 11th. The basic materials company reported $1.04 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.93 by $0.11. Royal Gold had a return on equity of 9.79% and a net margin of 49.12%. The company had revenue of $168.03 million for the quarter, compared to analyst estimates of $168.85 million. On average, sell-side analysts predict that Royal Gold will post 4.02 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 15th. Investors of record on Friday, October 1st will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, September 30th. This represents a $1.20 dividend on an annualized basis and a yield of 1.21%. Royal Gold’s payout ratio is currently 33.43%.

Royal Gold Company Profile

Royal Gold, Inc engages in the acquisition and management of metal streams, royalties, and similar interests. It operates through the following segments: Acquisition and Management of Stream Interests, and Acquisition and Management of Royalty Interests. The Acquisition and Management of Stream Interests segment involves in the purchase agreement that provides, in exchange for an upfront deposit payment, the right to purchase all or a portion of one or more metals.

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Analyst Recommendations for Royal Gold (NASDAQ:RGLD)

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