Royal Gold (NASDAQ:RGLD) PT Raised to $131.00

Royal Gold (NASDAQ:RGLD) (TSE:RGL) had its price objective lifted by stock analysts at Bank of America from $129.00 to $131.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “underperform” rating on the basic materials company’s stock. Bank of America‘s price objective suggests a potential upside of 4.23% from the stock’s previous close.

Other research analysts have also issued research reports about the company. BMO Capital Markets upped 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. Jefferies Financial Group assumed 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, Scotiabank increased their target price on Royal Gold from $144.00 to $148.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 23rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $142.25.

Royal Gold Trading Up 0.6 %

Shares of RGLD stock opened at $125.68 on Wednesday. The stock has a market capitalization of $8.26 billion, a PE ratio of 37.07, a P/E/G ratio of 1.03 and a beta of 0.91. Royal Gold has a 1-year low of $100.55 and a 1-year high of $134.56. The business has a 50-day moving average of $125.50 and a 200 day moving average of $119.21. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.50 and a quick ratio of 2.35.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last issued its earnings results on Wednesday, May 8th. The basic materials company reported $0.91 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.04). The company had revenue of $148.90 million for the quarter, compared to analysts’ expectations of $147.02 million. Royal Gold had a net margin of 38.12% and a return on equity of 7.96%. The company’s revenue was down 12.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.96 earnings per share. As a group, sell-side analysts anticipate that Royal Gold will post 4.51 earnings per share for the current year.

Insider Transactions at Royal Gold

In other news, SVP Daniel Breeze sold 1,500 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $130.73, for a total value of $196,095.00. Following the transaction, the senior vice president now directly owns 14,840 shares in the company, valued at approximately $1,940,033.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.52% of the company’s stock.

Hedge Funds Weigh In On Royal Gold

A number of institutional investors have recently bought and sold shares of RGLD. Rakuten Securities Inc. bought a new stake in Royal Gold during the fourth quarter valued at about $27,000. Larson Financial Group LLC raised its holdings in Royal Gold by 526.3% during the fourth quarter. Larson Financial Group LLC now owns 238 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 200 shares during the period. Turtle Creek Wealth Advisors LLC bought a new stake in Royal Gold during the fourth quarter valued at about $31,000. BKM Wealth Management LLC bought a new stake in Royal Gold during the fourth quarter valued at about $36,000. Finally, Fidelis Capital Partners LLC bought a new stake in Royal Gold during the first quarter valued at about $36,000. 83.65% of the stock is owned by 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.