Brokerages Set Royal Gold, Inc. (NASDAQ:RGLD) PT at $165.43

Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) has received a consensus rating of “Hold” from the ten brokerages that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $165.43.

RGLD has been the subject of several research reports. StockNews.com raised Royal Gold from a “hold” rating to a “buy” rating in a research report on Thursday, September 19th. TD Securities increased their price target on shares of Royal Gold from $181.00 to $185.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Jefferies Financial Group boosted their price objective on shares of Royal Gold from $141.00 to $154.00 and gave the stock a “hold” rating in a report on Friday, October 4th. Raymond James increased their target price on shares of Royal Gold from $184.00 to $186.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. Finally, Scotiabank boosted their price target on Royal Gold from $148.00 to $157.00 and gave the company a “sector perform” rating in a research note on Monday, August 19th.

Royal Gold Price Performance

Royal Gold stock opened at $146.93 on Wednesday. The firm has a market cap of $9.66 billion, a price-to-earnings ratio of 33.70, a P/E/G ratio of 1.08 and a beta of 0.89. The firm has a fifty day moving average price of $146.59 and a two-hundred day moving average price of $138.47. Royal Gold has a fifty-two week low of $100.55 and a fifty-two week high of $155.10.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last posted its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $1.47 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.13. The business had revenue of $193.84 million during the quarter, compared to analysts’ expectations of $184.12 million. Royal Gold had a return on equity of 10.18% and a net margin of 42.93%. The firm’s revenue was up 39.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.76 EPS. As a group, sell-side analysts expect that Royal Gold will post 5.14 earnings per share for the current year.

Royal Gold Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Friday, January 3rd will be paid a dividend of $0.45 per share. This is a positive change from Royal Gold’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a yield of 1.23%. The ex-dividend date is Friday, January 3rd. Royal Gold’s dividend payout ratio is currently 36.70%.

Insider Activity

In other news, SVP Daniel Breeze sold 549 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $150.00, for a total value of $82,350.00. Following the completion of the sale, the senior vice president now directly owns 16,293 shares in the company, valued at approximately $2,443,950. This trade represents a 3.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director William M. Hayes sold 1,984 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $147.05, for a total transaction of $291,747.20. Following the transaction, the director now owns 9,268 shares in the company, valued at approximately $1,362,859.40. This trade represents a 17.63 % decrease in their position. The disclosure for this sale can be found here. 0.52% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Royal Gold

A number of institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp increased its holdings in shares of Royal Gold by 34.1% in the second quarter. Bank of New York Mellon Corp now owns 834,986 shares of the basic materials company’s stock valued at $104,507,000 after purchasing an additional 212,316 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Royal Gold by 24.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 806,872 shares of the basic materials company’s stock valued at $100,991,000 after buying an additional 156,048 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Royal Gold by 38.4% in the 2nd quarter. AQR Capital Management LLC now owns 483,493 shares of the basic materials company’s stock valued at $60,514,000 after buying an additional 134,120 shares during the period. Driehaus Capital Management LLC bought a new stake in shares of Royal Gold during the second quarter worth $15,559,000. Finally, International Assets Investment Management LLC lifted its stake in shares of Royal Gold by 13,968.8% during the third quarter. International Assets Investment Management LLC now owns 84,694 shares of the basic materials company’s stock valued at $11,883,000 after acquiring an additional 84,092 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.