Royal Gold (NASDAQ:RGLD) Price Target Raised to $325.00

Royal Gold (NASDAQ:RGLD) (TSE:RGL) had its target price boosted by Royal Bank Of Canada from $305.00 to $325.00 in a research note issued to investors on Wednesday,Benzinga reports. Royal Bank Of Canada currently has an outperform rating on the basic materials company’s stock.

RGLD has been the topic of a number of other reports. Zacks Research upgraded shares of Royal Gold from a “strong sell” rating to a “hold” rating in a report on Monday, September 7th. Scotiabank reaffirmed a “sector perform” rating and issued a $310.00 target price on shares of Royal Gold in a report on Tuesday, July 14th. Weiss Ratings downgraded Royal Gold from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, August 4th. UBS Group boosted their target price on Royal Gold from $280.00 to $285.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Finally, Jefferies Financial Group cut their price target on Royal Gold from $318.00 to $311.00 and set a “buy” rating for the company in a report on Monday, July 6th. Eight investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $289.64.

Royal Gold Trading Down 0.7%

Shares of RGLD opened at $249.65 on Wednesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.92 and a quick ratio of 2.68. Royal Gold has a 1 year low of $168.88 and a 1 year high of $306.25. The company has a 50 day simple moving average of $231.23 and a two-hundred day simple moving average of $233.78. The firm has a market cap of $21.15 billion, a P/E ratio of 27.25, a price-to-earnings-growth ratio of 1.89 and a beta of 0.50.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last released its earnings results on Wednesday, August 5th. The basic materials company reported $2.56 EPS for the quarter, topping the consensus estimate of $2.55 by $0.01. Royal Gold had a net margin of 47.74% and a return on equity of 12.06%. The firm had revenue of $468.98 million for the quarter, compared to the consensus estimate of $458.85 million. During the same quarter in the previous year, the firm earned $1.81 earnings per share. The company’s quarterly revenue was up 114.9% compared to the same quarter last year. On average, equities analysts expect that Royal Gold will post 10.26 earnings per share for the current fiscal year.

Royal Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Shareholders of record on Friday, October 2nd will be paid a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Friday, October 2nd. Royal Gold’s dividend payout ratio (DPR) is presently 20.74%.

Insider Buying and Selling at Royal Gold

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in RGLD. Core Capital Management & Research inc. bought a new stake in Royal Gold in the second quarter worth $32,000. Integrated Wealth Concepts LLC increased its position in Royal Gold by 5.9% during the second quarter. Integrated Wealth Concepts LLC now owns 24,546 shares of the basic materials company’s stock valued at $4,900,000 after acquiring an additional 1,361 shares during the last quarter. Allworth Financial LP raised its stake in shares of Royal Gold by 94.9% in the second quarter. Allworth Financial LP now owns 10,449 shares of the basic materials company’s stock valued at $2,086,000 after acquiring an additional 5,088 shares during the period. Arizona State Retirement System raised its stake in shares of Royal Gold by 1.0% in the second quarter. Arizona State Retirement System now owns 23,410 shares of the basic materials company’s stock valued at $4,673,000 after acquiring an additional 228 shares during the period. Finally, Murphy Pohlad Asset Management LLC lifted its holdings in shares of Royal Gold by 21.7% in the 2nd quarter. Murphy Pohlad Asset Management LLC now owns 1,765 shares of the basic materials company’s stock worth $352,000 after acquiring an additional 315 shares during the last quarter. Hedge funds and other institutional investors own 83.65% of the company’s stock.

Royal Gold Company Profile

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.