Royal Gold (NASDAQ:RGLD) Given New $200.00 Price Target at Raymond James

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

Several other equities analysts have also recently issued reports on the company. Royal Bank of Canada dropped their price target on Royal Gold from $175.00 to $170.00 and set an “outperform” rating on the stock in a research report on Friday. Jefferies Financial Group upgraded Royal Gold from a “hold” rating to a “buy” rating and upped their price target for the stock from $154.00 to $178.00 in a research note on Tuesday, January 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Royal Gold has a consensus rating of “Moderate Buy” and a consensus target price of $170.75.

Royal Gold Trading Down 7.0 %

RGLD stock opened at $155.60 on Friday. The company has a market capitalization of $10.23 billion, a P/E ratio of 30.87, a PEG ratio of 3.42 and a beta of 0.77. The business has a 50 day simple moving average of $151.05 and a 200-day simple moving average of $145.49. Royal Gold has a twelve month low of $118.00 and a twelve month high of $169.00.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last issued its quarterly earnings results on Wednesday, February 12th. The basic materials company reported $1.63 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.17. Royal Gold had a net margin of 46.15% and a return on equity of 11.46%. Research analysts predict that Royal Gold will post 6.2 EPS for the current fiscal year.

Royal Gold Dividend Announcement

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

Insiders Place Their Bets

In other news, SVP Randy Shefman sold 1,300 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $154.98, for a total value of $201,474.00. Following the completion of the transaction, the senior vice president now owns 9,360 shares in the company, valued at $1,450,612.80. This trade represents a 12.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.52% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Royal Gold during the 4th quarter worth approximately $741,000. Arizona State Retirement System boosted its position in Royal Gold by 0.8% during the fourth quarter. Arizona State Retirement System now owns 19,076 shares of the basic materials company’s stock worth $2,515,000 after purchasing an additional 149 shares in the last quarter. Verition Fund Management LLC grew its holdings in Royal Gold by 213.1% in the third quarter. Verition Fund Management LLC now owns 8,051 shares of the basic materials company’s stock valued at $1,130,000 after purchasing an additional 5,480 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Royal Gold by 1.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 484,207 shares of the basic materials company’s stock valued at $63,843,000 after buying an additional 5,067 shares in the last quarter. Finally, Merit Financial Group LLC acquired a new position in shares of Royal Gold during the 4th quarter worth $455,000. 83.65% of the stock is currently owned by institutional investors and hedge funds.

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.