Analysts Set Royal Gold, Inc. (NASDAQ:RGLD) Price Target at $234.60

Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) has earned an average rating of “Moderate Buy” from the eleven analysts that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $234.60.

A number of research analysts recently issued reports on the stock. CIBC boosted their target price on shares of Royal Gold from $225.00 to $250.00 and gave the company a “neutral” rating in a research report on Friday, October 10th. Raymond James Financial set a $264.00 price target on shares of Royal Gold in a research note on Thursday, November 6th. Wall Street Zen lowered shares of Royal Gold from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Scotiabank reissued an “outperform” rating on shares of Royal Gold in a research report on Thursday, October 23rd. Finally, TD Cowen boosted their target price on Royal Gold from $261.00 to $263.00 and gave the company a “buy” rating in a research report on Tuesday, November 18th.

Royal Gold Stock Up 0.1%

Shares of Royal Gold stock opened at $233.32 on Friday. Royal Gold has a one year low of $130.67 and a one year high of $235.52. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.89 and a quick ratio of 2.68. The stock’s 50-day moving average is $197.22 and its 200 day moving average is $184.54. The firm has a market cap of $19.69 billion, a price-to-earnings ratio of 32.05, a PEG ratio of 0.89 and a beta of 0.48.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last issued its earnings results on Wednesday, November 5th. The basic materials company reported $2.06 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.24). The business had revenue of $250.23 million during the quarter, compared to the consensus estimate of $275.11 million. Royal Gold had a return on equity of 14.14% and a net margin of 55.99%.The company’s revenue for the quarter was up 30.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.47 earnings per share. Equities research analysts anticipate that Royal Gold will post 6.2 EPS for the current year.

Royal Gold Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 16th. Stockholders of record on Friday, January 2nd will be issued a dividend of $0.475 per share. This is a positive change from Royal Gold’s previous quarterly dividend of $0.45. This represents a $1.90 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Friday, January 2nd. Royal Gold’s dividend payout ratio is presently 26.10%.

Hedge Funds Weigh In On Royal Gold

A number of large investors have recently modified their holdings of the company. Vermillion & White Wealth Management Group LLC bought a new stake in Royal Gold during the 3rd quarter valued at $29,000. WPG Advisers LLC acquired a new position in shares of Royal Gold during the first quarter valued at about $27,000. Sunbelt Securities Inc. increased its position in shares of Royal Gold by 8,400.0% during the third quarter. Sunbelt Securities Inc. now owns 170 shares of the basic materials company’s stock worth $34,000 after acquiring an additional 168 shares in the last quarter. Cullen Frost Bankers Inc. increased its position in shares of Royal Gold by 548.1% during the second 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 in the last quarter. Finally, Blue Trust Inc. raised its holdings in shares of Royal Gold by 56.8% in 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. 83.65% of the stock is currently owned by institutional investors.

Royal Gold Company Profile

Royal Gold, Inc, headquartered in Denver, Colorado, is a leading precious metals streaming and royalty company. Through its business model, Royal Gold provides upfront financing to mining operators in exchange for the right to purchase a percentage of future metal production at predetermined prices. This structure allows the company to participate in production upside while minimizing exposure to the operating and capital-intensive aspects of mine ownership.

The company’s portfolio encompasses interests in over 200 streams and royalties on projects across North America, South America, Europe, Africa and Australia.