Royal Gold (NASDAQ:RGLD) Price Target Raised to $200.00

Royal Gold (NASDAQ:RGLD) (TSE:RGL) had its price target lifted by Raymond James from $181.00 to $200.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have an outperform rating on the basic materials company’s stock.

RGLD has been the topic of several other reports. Jefferies Financial Group upgraded shares of Royal Gold from a “hold” rating to a “buy” rating and increased their target price for the stock from $154.00 to $178.00 in a report on Tuesday, January 7th. Royal Bank of Canada reduced their target price on Royal Gold from $175.00 to $170.00 and set an “outperform” rating on the stock in a report on Friday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $170.75.

Royal Gold Stock Down 7.0 %

Shares of Royal Gold stock opened at $155.60 on Friday. The business has a fifty day simple moving average of $151.05 and a 200 day simple moving average of $145.57. The stock has a market cap of $10.23 billion, a PE ratio of 30.87, a price-to-earnings-growth ratio of 3.42 and a beta of 0.77. Royal Gold has a 12 month low of $118.00 and a 12 month 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.17. Royal Gold had a return on equity of 11.46% and a net margin of 46.15%. Analysts expect that Royal Gold will post 6.2 EPS for the current fiscal year.

Royal Gold Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Friday, April 4th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date of this dividend is Friday, April 4th. Royal Gold’s dividend payout ratio is presently 35.71%.

Insider Buying and Selling at Royal Gold

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Exchange Traded Concepts LLC bought a new position in shares of Royal Gold in the 4th quarter valued at about $25,000. Nomura Asset Management Co. Ltd. grew its stake in Royal Gold by 61.1% in the third quarter. Nomura Asset Management Co. Ltd. now owns 290 shares of the basic materials company’s stock valued at $41,000 after purchasing an additional 110 shares in the last quarter. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Royal Gold during the 4th quarter worth approximately $42,000. Jones Financial Companies Lllp raised its stake in shares of Royal Gold by 390.7% during the 4th quarter. Jones Financial Companies Lllp now owns 368 shares of the basic materials company’s stock worth $49,000 after purchasing an additional 293 shares in the last quarter. Finally, IFP Advisors Inc boosted its holdings in shares of Royal Gold by 66.7% in the 4th quarter. IFP Advisors Inc now owns 395 shares of the basic materials company’s stock valued at $52,000 after buying an additional 158 shares during the last quarter. 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.