Royal Gold (NASDAQ:RGLD) Given New $170.00 Price Target at Royal Bank of Canada

Royal Gold (NASDAQ:RGLD) (TSE:RGL) had its target price dropped by equities researchers at Royal Bank of Canada from $175.00 to $170.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the basic materials company’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 9.25% from the company’s current price.

Separately, Jefferies Financial Group raised shares of Royal Gold from a “hold” rating to a “buy” rating and lifted their target price for the stock from $154.00 to $178.00 in a research report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $170.75.

Royal Gold Price Performance

NASDAQ:RGLD opened at $155.60 on Friday. The firm’s fifty day moving average price is $151.05 and its two-hundred day moving average price is $145.53. The company has a market cap of $10.23 billion, a P/E ratio of 30.87, a P/E/G ratio of 3.42 and a beta of 0.77. Royal Gold has a one year low of $118.00 and a one year high of $169.00.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last posted its earnings results on Wednesday, February 12th. The basic materials company reported $1.63 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.17. Royal Gold had a net margin of 46.15% and a return on equity of 11.46%. As a group, equities research analysts expect that Royal Gold will post 6.2 earnings per share for the current year.

Insiders Place Their Bets

In other Royal Gold news, SVP Randy Shefman sold 1,300 shares of the firm’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $154.98, for a total value of $201,474.00. Following the completion of the sale, the senior vice president now owns 9,360 shares of the company’s stock, valued at $1,450,612.80. This trade represents a 12.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.52% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Royal Gold

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Exchange Traded Concepts LLC acquired a new stake in shares of Royal Gold in the 4th quarter worth $25,000. Nomura Asset Management Co. Ltd. boosted its position in Royal Gold by 61.1% during the third quarter. Nomura Asset Management Co. Ltd. now owns 290 shares of the basic materials company’s stock worth $41,000 after acquiring an additional 110 shares during the last quarter. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Royal Gold during the 4th quarter valued at about $42,000. Jones Financial Companies Lllp raised its position in Royal Gold by 390.7% in the fourth quarter. Jones Financial Companies Lllp now owns 368 shares of the basic materials company’s stock valued at $49,000 after purchasing an additional 293 shares during the period. Finally, IFP Advisors Inc raised its position in Royal Gold by 66.7% in the fourth quarter. IFP Advisors Inc now owns 395 shares of the basic materials company’s stock valued at $52,000 after purchasing an additional 158 shares during the period. Institutional investors own 83.65% of the company’s stock.

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.