Royal Gold (NASDAQ:RGLD) Price Target Raised to $131.00 at Bank of America

Royal Gold (NASDAQ:RGLD) (TSE:RGL) had its price target upped by Bank of America from $129.00 to $131.00 in a research report report published on Wednesday, Benzinga reports. Bank of America currently has an underperform rating on the basic materials company’s stock.

RGLD has been the subject of a number of other reports. Scotiabank increased their price target on shares of Royal Gold from $144.00 to $148.00 and gave the stock a sector perform rating in a research note on Thursday, May 23rd. Jefferies Financial Group initiated coverage on Royal Gold in a research report on Thursday, February 29th. They issued a hold rating and a $117.00 target price for the company. Finally, BMO Capital Markets lifted their price target on Royal Gold from $160.00 to $161.00 and gave the company an outperform rating in a research report on Tuesday, May 21st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Hold and an average price target of $142.25.

Royal Gold Trading Up 1.4 %

NASDAQ RGLD opened at $124.94 on Wednesday. The stock has a market cap of $8.21 billion, a P/E ratio of 36.86, a price-to-earnings-growth ratio of 1.03 and a beta of 0.91. Royal Gold has a fifty-two week low of $100.55 and a fifty-two week high of $134.56. The stock has a 50 day simple moving average of $125.42 and a two-hundred day simple moving average of $119.16. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.35 and a current ratio of 2.50.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last announced its quarterly earnings results on Wednesday, May 8th. The basic materials company reported $0.91 EPS for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.04). The business had revenue of $148.90 million during the quarter, compared to analysts’ expectations of $147.02 million. Royal Gold had a return on equity of 7.96% and a net margin of 38.12%. The business’s revenue was down 12.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.96 EPS. On average, analysts forecast that Royal Gold will post 4.51 earnings per share for the current year.

Royal Gold Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 19th. Shareholders of record on Friday, July 5th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend is Friday, July 5th. Royal Gold’s dividend payout ratio (DPR) is 47.20%.

Insider Transactions at Royal Gold

In related news, SVP Daniel Breeze sold 1,500 shares of the stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $130.73, for a total transaction of $196,095.00. Following the sale, the senior vice president now directly owns 14,840 shares of the company’s stock, valued at approximately $1,940,033.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.52% of the company’s stock.

Hedge Funds Weigh In On Royal Gold

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. River Road Asset Management LLC raised its stake in shares of Royal Gold by 19.4% in the fourth quarter. River Road Asset Management LLC now owns 52,578 shares of the basic materials company’s stock worth $6,360,000 after purchasing an additional 8,550 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Royal Gold by 22.4% during the 4th quarter. Victory Capital Management Inc. now owns 193,518 shares of the basic materials company’s stock valued at $23,408,000 after acquiring an additional 35,458 shares during the period. Campbell & CO Investment Adviser LLC bought a new stake in shares of Royal Gold in the fourth quarter worth approximately $1,239,000. Louisiana State Employees Retirement System purchased a new position in shares of Royal Gold during the fourth quarter valued at approximately $2,238,000. Finally, BNP Paribas Asset Management Holding S.A. lifted its position in Royal Gold by 282.5% during the fourth quarter. BNP Paribas Asset Management Holding S.A. now owns 22,865 shares of the basic materials company’s stock valued at $2,766,000 after purchasing an additional 16,887 shares during the period. 83.65% of the stock is owned by 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.