Royal Gold (NASDAQ:RGLD) Price Target Increased to $157.00 by Analysts at Scotiabank

Royal Gold (NASDAQ:RGLD) (TSE:RGL) had its target price hoisted by Scotiabank from $148.00 to $157.00 in a research note released on Monday morning, Benzinga reports. The firm currently has a sector perform rating on the basic materials company’s stock.

Several other research analysts also recently weighed in on the stock. Cibc World Mkts upgraded shares of Royal Gold to a hold rating in a research report on Wednesday, July 10th. StockNews.com upgraded shares of Royal Gold from a hold rating to a buy rating in a research report on Friday, August 9th. Jefferies Financial Group raised their price objective on shares of Royal Gold from $130.00 to $141.00 and gave the company a hold rating in a research report on Friday, July 12th. Raymond James raised their price objective on shares of Royal Gold from $167.00 to $170.00 and gave the company an outperformer rating in a research report on Friday, August 9th. Finally, CIBC raised their price objective on shares of Royal Gold from $166.00 to $175.00 and gave the company a neutral rating in a research report on Wednesday, July 10th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Hold and an average target price of $157.00.

Royal Gold Trading Down 1.5 %

Shares of RGLD stock opened at $138.87 on Monday. Royal Gold has a 12-month low of $100.55 and a 12-month high of $141.25. The firm’s 50 day moving average is $131.94 and its 200 day moving average is $123.35. The stock has a market capitalization of $9.13 billion, a P/E ratio of 40.96, a P/E/G ratio of 1.10 and a beta of 0.87.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last issued its earnings results on Wednesday, August 7th. The basic materials company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.07. Royal Gold had a net margin of 39.15% and a return on equity of 8.74%. The company had revenue of $174.10 million for the quarter, compared to analysts’ expectations of $172.12 million. During the same quarter last year, the company posted $0.88 earnings per share. The firm’s quarterly revenue was up 20.9% on a year-over-year basis. As a group, equities analysts predict that Royal Gold will post 4.7 earnings per share for the current year.

Royal Gold Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Friday, October 4th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $1.60 dividend on an annualized basis and a yield of 1.15%. Royal Gold’s dividend payout ratio is currently 47.20%.

Insider Buying and Selling at Royal Gold

In other Royal Gold news, Director Ronald J. Vance sold 415 shares of Royal Gold stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $140.85, for a total value of $58,452.75. Following the completion of the transaction, the director now directly owns 8,194 shares of the company’s stock, valued at approximately $1,154,124.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Royal Gold news, Director Ronald J. Vance sold 415 shares of Royal Gold stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $140.85, for a total value of $58,452.75. Following the completion of the transaction, the director now directly owns 8,194 shares of the company’s stock, valued at approximately $1,154,124.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ronald J. Vance sold 1,000 shares of Royal Gold stock in a transaction on Monday, August 12th. The stock was sold at an average price of $132.16, for a total transaction of $132,160.00. Following the completion of the transaction, the director now directly owns 9,109 shares of the company’s stock, valued at $1,203,845.44. The disclosure for this sale can be found here. 0.52% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Royal Gold

A number of institutional investors and hedge funds have recently made changes to their positions in RGLD. Price T Rowe Associates Inc. MD boosted its stake in shares of Royal Gold by 224.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 609,760 shares of the basic materials company’s stock worth $74,276,000 after purchasing an additional 422,026 shares during the period. Van ECK Associates Corp boosted its stake in shares of Royal Gold by 6.8% during the 1st quarter. Van ECK Associates Corp now owns 4,595,734 shares of the basic materials company’s stock worth $559,807,000 after purchasing an additional 292,357 shares during the period. Norges Bank purchased a new position in shares of Royal Gold during the 4th quarter worth about $33,696,000. Bank of New York Mellon Corp boosted its stake in shares of Royal Gold by 34.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 834,986 shares of the basic materials company’s stock worth $104,507,000 after purchasing an additional 212,316 shares during the period. Finally, International Assets Investment Management LLC boosted its stake in shares of Royal Gold by 12,032.4% during the 4th quarter. International Assets Investment Management LLC now owns 183,685 shares of the basic materials company’s stock worth $22,219,000 after purchasing an additional 182,171 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, 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.