Scotiabank Raises Royal Gold (NASDAQ:RGLD) Price Target to $148.00

Royal Gold (NASDAQ:RGLD) (TSE:RGL) had its target price upped by equities researchers at Scotiabank from $144.00 to $148.00 in a research note issued on Thursday, Benzinga reports. The firm currently has a “sector perform” rating on the basic materials company’s stock. Scotiabank’s target price indicates a potential upside of 15.34% from the company’s current price.

Other equities analysts have also issued reports about the stock. BMO Capital Markets raised their target price on shares of Royal Gold from $160.00 to $161.00 and gave the stock an “outperform” rating in a research report on Tuesday. Cantor Fitzgerald lowered shares of Royal Gold from an “overweight” rating to a “neutral” rating in a research report on Thursday, February 15th. National Bank Financial raised shares of Royal Gold from a “sector perform” rating to an “outperform” rating in a research report on Thursday, February 15th. Finally, Jefferies Financial Group assumed coverage on shares of Royal Gold in a research report on Thursday, February 29th. They set a “hold” rating and a $117.00 target price on the stock. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Royal Gold currently has a consensus rating of “Hold” and a consensus price target of $142.13.

Royal Gold Price Performance

Shares of RGLD traded down $2.13 during midday trading on Thursday, hitting $128.32. 149,268 shares of the company traded hands, compared to its average volume of 420,378. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.35 and a current ratio of 2.50. Royal Gold has a 52 week low of $100.55 and a 52 week high of $134.56. The firm has a 50 day moving average of $121.69 and a 200-day moving average of $117.30. The stock has a market cap of $8.43 billion, a price-to-earnings ratio of 37.85, a PEG ratio of 1.13 and a beta of 0.88.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last announced its quarterly earnings data on Wednesday, May 8th. The basic materials company reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.04). The firm had revenue of $148.90 million during the quarter, compared to the consensus estimate of $147.02 million. Royal Gold had a return on equity of 7.96% and a net margin of 38.12%. The firm’s revenue for the quarter was down 12.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.96 EPS. On average, analysts forecast that Royal Gold will post 4.51 EPS for the current fiscal year.

Insider Transactions at Royal Gold

In other news, SVP Daniel Breeze sold 1,500 shares of Royal Gold stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $130.73, for a total transaction of $196,095.00. Following the completion of the sale, the senior vice president now directly owns 14,840 shares in the company, valued at $1,940,033.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Royal Gold news, SVP Daniel Breeze sold 1,500 shares of Royal Gold stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $130.73, for a total value of $196,095.00. Following the completion of the transaction, the senior vice president now owns 14,840 shares of the company’s stock, valued at $1,940,033.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Randy Shefman sold 500 shares of Royal Gold stock in a transaction on Monday, March 11th. The shares were sold at an average price of $113.00, for a total transaction of $56,500.00. Following the completion of the transaction, the senior vice president now directly owns 12,127 shares of the company’s stock, valued at approximately $1,370,351. The disclosure for this sale can be found here. Insiders own 0.52% of the company’s stock.

Hedge Funds Weigh In On Royal Gold

Institutional investors and hedge funds have recently bought and sold shares of the company. Teacher Retirement System of Texas lifted its holdings in shares of Royal Gold by 3.4% in the 3rd quarter. Teacher Retirement System of Texas now owns 13,861 shares of the basic materials company’s stock worth $1,474,000 after acquiring an additional 455 shares during the last quarter. California Public Employees Retirement System lifted its holdings in shares of Royal Gold by 6.5% in the 3rd quarter. California Public Employees Retirement System now owns 239,778 shares of the basic materials company’s stock worth $25,496,000 after acquiring an additional 14,566 shares during the last quarter. Private Advisor Group LLC lifted its holdings in shares of Royal Gold by 3.1% in the 3rd quarter. Private Advisor Group LLC now owns 3,835 shares of the basic materials company’s stock worth $408,000 after acquiring an additional 115 shares during the last quarter. Arizona State Retirement System lifted its holdings in shares of Royal Gold by 1.4% in the 3rd quarter. Arizona State Retirement System now owns 18,700 shares of the basic materials company’s stock worth $1,988,000 after acquiring an additional 262 shares during the last quarter. Finally, Hussman Strategic Advisors Inc. lifted its holdings in shares of Royal Gold by 0.4% in the 3rd quarter. Hussman Strategic Advisors Inc. now owns 30,600 shares of the basic materials company’s stock worth $3,254,000 after acquiring an additional 120 shares during the last quarter. 83.65% of the stock is currently owned by institutional investors and hedge funds.

About Royal Gold

Royal Gold, Inc, together with its subsidiaries, acquires and manages precious metal streams, royalties, and related interests. The company engages in acquiring stream and royalty interests or to finance projects that are in production, development, or in the exploration stage in exchange for stream or royalty interests, which primarily consists of gold, silver, copper, nickel, zinc, lead, and other metals.