Brokerages Set Royal Gold, Inc. (NASDAQ:RGLD) Target Price at $198.63

Shares of Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) have received a consensus rating of “Moderate Buy” from the eight analysts that are currently covering the company, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $198.6250.

A number of brokerages have commented on RGLD. CIBC boosted their price target on shares of Royal Gold from $202.00 to $215.00 and gave the company a “neutral” rating in a research note on Thursday, May 8th. Canaccord Genuity Group boosted their price target on shares of Royal Gold from $202.00 to $203.00 in a research note on Wednesday, June 11th. BMO Capital Markets set a $197.00 price target on shares of Royal Gold and gave the company a “market perform” rating in a research note on Thursday, May 22nd. Wall Street Zen lowered shares of Royal Gold from a “buy” rating to a “hold” rating in a research note on Saturday, August 16th. Finally, TD Securities restated a “buy” rating and set a $237.00 price target (up previously from $229.00) on shares of Royal Gold in a research note on Friday, August 8th.

Royal Gold Stock Up 1.5%

NASDAQ:RGLD opened at $177.44 on Monday. The company has a fifty day moving average of $167.03 and a 200-day moving average of $166.52. The firm has a market capitalization of $11.68 billion, a P/E ratio of 26.02, a P/E/G ratio of 1.28 and a beta of 0.40. Royal Gold has a twelve month low of $130.67 and a twelve month high of $191.78.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last released its quarterly earnings data on Wednesday, August 6th. The basic materials company reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.11. The company had revenue of $209.64 million during the quarter, compared to analyst estimates of $186.63 million. Royal Gold had a net margin of 56.24% and a return on equity of 13.30%. Royal Gold’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.25 EPS. On average, analysts anticipate that Royal Gold will post 6.2 EPS for the current fiscal year.

Royal Gold Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Friday, October 3rd will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Friday, October 3rd. Royal Gold’s payout ratio is 26.39%.

Institutional Trading of Royal Gold

Hedge funds and other institutional investors have recently bought and sold shares of the business. WPG Advisers LLC purchased a new position in Royal Gold during the 1st quarter worth $27,000. Cullen Frost Bankers Inc. boosted its holdings in Royal Gold by 548.1% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 175 shares of the basic materials company’s stock worth $31,000 after acquiring an additional 148 shares during the last quarter. Alpine Bank Wealth Management purchased a new position in Royal Gold during the 1st quarter worth $32,000. Banque Cantonale Vaudoise purchased a new position in Royal Gold during the 1st quarter worth $34,000. Finally, Blue Trust Inc. boosted its holdings in Royal Gold by 56.8% during the 2nd quarter. Blue Trust Inc. now owns 196 shares of the basic materials company’s stock worth $35,000 after acquiring an additional 71 shares during the last quarter. Institutional investors own 83.65% of the company’s stock.

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.