Royal Gold (NASDAQ:RGLD) Sets New 12-Month High at $146.34

Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) shares hit a new 52-week high during trading on Tuesday . The company traded as high as $146.34 and last traded at $145.53, with a volume of 29099 shares traded. The stock had previously closed at $143.78.

Analysts Set New Price Targets

A number of research analysts have issued reports on RGLD shares. BMO Capital Markets lifted their price objective on Royal Gold from $168.00 to $170.00 and gave the company an “outperform” rating in a research note on Wednesday, July 10th. Raymond James raised their price objective on shares of Royal Gold from $167.00 to $170.00 and gave the company an “outperformer” rating in a research note on Friday, August 9th. Jefferies Financial Group upped their target price on shares of Royal Gold from $130.00 to $141.00 and gave the stock a “hold” rating in a research note on Friday, July 12th. Scotiabank raised their price target on shares of Royal Gold from $148.00 to $157.00 and gave the company a “sector perform” rating in a research report on Monday, August 19th. Finally, Bank of America upped their price objective on Royal Gold from $129.00 to $131.00 and gave the company an “underperform” rating in a research report on Wednesday, June 26th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $157.00.

Royal Gold Stock Up 2.2 %

The business has a fifty day simple moving average of $137.22 and a two-hundred day simple moving average of $128.40. The company has a market cap of $9.66 billion, a P/E ratio of 42.41, a P/E/G ratio of 1.13 and a beta of 0.90.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last issued its quarterly earnings data on Wednesday, August 7th. The basic materials company reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.18 by $0.07. Royal Gold had a net margin of 39.15% and a return on equity of 8.74%. The firm had revenue of $174.10 million during the quarter, compared to the consensus estimate of $172.12 million. During the same quarter in the previous year, the firm posted $0.88 EPS. The company’s revenue for the quarter was up 20.9% compared to the same quarter last year. On average, equities analysts predict that Royal Gold, Inc. will post 4.7 EPS for the current fiscal year.

Royal Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Friday, October 4th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, October 4th. This represents a $1.60 annualized dividend and a dividend yield of 1.09%. Royal Gold’s payout ratio is 47.20%.

Insiders Place Their Bets

In other news, SVP Daniel Breeze sold 840 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $143.43, for a total value of $120,481.20. Following the transaction, the senior vice president now directly owns 16,842 shares in the company, valued at $2,415,648.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP Daniel Breeze sold 840 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $143.43, for a total transaction of $120,481.20. Following the completion of the transaction, the senior vice president now directly owns 16,842 shares of the company’s stock, valued at $2,415,648.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Paul Libner sold 1,500 shares of Royal Gold stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $142.53, for a total transaction of $213,795.00. Following the completion of the sale, the chief financial officer now owns 18,657 shares in the company, valued at $2,659,182.21. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,355 shares of company stock worth $1,170,315. Corporate insiders own 0.52% of the company’s stock.

Institutional Trading of Royal Gold

Several hedge funds have recently modified their holdings of RGLD. Fidelis Capital Partners LLC purchased a new stake in Royal Gold during the first quarter valued at $36,000. Janiczek Wealth Management LLC raised its position in Royal Gold by 321.8% during the first quarter. Janiczek Wealth Management LLC now owns 426 shares of the basic materials company’s stock valued at $52,000 after purchasing an additional 325 shares during the period. Fortis Group Advisors LLC lifted its stake in shares of Royal Gold by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 446 shares of the basic materials company’s stock valued at $54,000 after purchasing an additional 223 shares during the last quarter. Quadrant Capital Group LLC boosted its holdings in shares of Royal Gold by 31.3% in the 4th quarter. Quadrant Capital Group LLC now owns 487 shares of the basic materials company’s stock worth $59,000 after purchasing an additional 116 shares during the period. Finally, Mather Group LLC. purchased a new stake in Royal Gold during the 2nd quarter valued at $62,000. 83.65% of the stock is owned by hedge funds and other institutional investors.

About Royal Gold

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.