Royal Gold (NASDAQ:RGLD) Stock Price Target Lowered at TD

Royal Gold (NASDAQ:RGLD) (TSE:RGL) had its price target dropped by investment analysts at TD from $315.00 to $311.00 in a research report issued to clients and investors on Tuesday, BayStreet reports. The brokerage currently has a “buy” rating on the basic materials company’s stock. TD’s price objective suggests a potential upside of 29.09% from the stock’s previous close.

Several other research analysts have also commented on the stock. Royal Bank Of Canada increased 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 upgraded shares of Royal Gold from a “strong sell” rating to a “hold” rating in a report on Monday, September 7th. Canadian Imperial Bank of Commerce set a $305.00 price objective on shares of Royal Gold in a research note on Friday. Jefferies Financial Group reduced their price objective on shares of Royal Gold from $318.00 to $311.00 and set a “buy” rating for the company in a research note on Monday, July 6th. Finally, Scotiabank reiterated a “sector perform” rating and issued a $310.00 price objective on shares of Royal Gold in a report on Tuesday, July 14th. Nine investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $295.40.

Royal Gold Stock Up 2.1%

Shares of RGLD traded up $5.00 during midday trading on Tuesday, reaching $240.91. 326,884 shares of the stock were exchanged, compared to its average volume of 837,732. The firm has a 50 day simple moving average of $246.64 and a 200-day simple moving average of $231.13. Royal Gold has a 12-month low of $168.88 and a 12-month high of $306.25. The company has a market cap of $20.41 billion, a price-to-earnings ratio of 26.29, a P/E/G ratio of 1.78 and a beta of 0.45. The company has a quick ratio of 2.68, a current ratio of 2.92 and a debt-to-equity ratio of 0.05.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last issued its quarterly earnings data on Wednesday, August 5th. The basic materials company reported $2.56 earnings per share for the quarter, beating the consensus estimate of $2.55 by $0.01. The firm had revenue of $468.98 million for the quarter, compared to analyst estimates of $458.85 million. Royal Gold had a net margin of 47.74% and a return on equity of 12.06%. The company’s revenue for the quarter was up 114.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.81 earnings per share. Research analysts forecast that Royal Gold will post 10.30 EPS for the current year.

Insider Buying and Selling at Royal Gold

In related news, SVP Randy Shefman sold 500 shares of the firm’s stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $262.80, for a total value of $131,400.00. Following the transaction, the senior vice president directly owned 8,082 shares of the company’s stock, valued at approximately $2,123,949.60. This trade represents a 5.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.35% of the company’s stock.

Institutional Investors Weigh In On Royal Gold

Several institutional investors and hedge funds have recently added to or reduced their stakes in RGLD. Mayfair Advisory Group LLC grew its holdings in Royal Gold by 10.6% during the third quarter. Mayfair Advisory Group LLC now owns 2,086 shares of the basic materials company’s stock valued at $492,000 after purchasing an additional 200 shares during the last quarter. Cordatus Wealth Management LLC bought a new position in shares of Royal Gold in the third quarter valued at approximately $321,000. Encompass More Asset Management acquired a new stake in shares of Royal Gold in the third quarter worth $208,000. Vontobel Holding Ltd. lifted its stake in shares of Royal Gold by 171.0% in the third quarter. Vontobel Holding Ltd. now owns 6,878 shares of the basic materials company’s stock worth $1,623,000 after buying an additional 4,340 shares during the last quarter. Finally, TD Waterhouse Canada Inc. lifted its stake in shares of Royal Gold by 7.1% in the third quarter. TD Waterhouse Canada Inc. now owns 12,162 shares of the basic materials company’s stock worth $2,831,000 after buying an additional 801 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 is a precious metals streaming and royalty company headquartered in Denver, Colorado. The company provides financing to mining companies in exchange for the right to purchase a portion of the gold, silver, copper, or other metals produced from their mines, typically at predetermined prices. It also holds royalty interests that entitle it to a percentage of revenue or production from mining operations without directly operating the mines.

Royal Gold’s business is focused on acquiring and managing a diversified portfolio of streaming and royalty interests.