Royal Gold (NASDAQ:RGLD) Price Target Cut to $162.00 by Analysts at BMO Capital Markets

Royal Gold (NASDAQ:RGLD) (TSE:RGL) had its price objective reduced by BMO Capital Markets from $163.00 to $162.00 in a research note issued to investors on Thursday, Benzinga reports. They currently have an outperform rating on the basic materials company’s stock.

Several other research firms have also commented on RGLD. Jefferies Financial Group began coverage on shares of Royal Gold in a research report on Thursday, February 29th. They set a hold rating and a $117.00 price target for the company. National Bank Financial upgraded Royal Gold from a sector perform rating to an outperform rating in a research note on Thursday, February 15th. Finally, Cantor Fitzgerald downgraded Royal Gold from an overweight rating to a neutral rating in a research report on Thursday, February 15th. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Royal Gold has a consensus rating of Hold and an average target price of $143.75.

Royal Gold Price Performance

Shares of RGLD stock traded up $0.74 during trading hours on Thursday, hitting $122.29. 276,105 shares of the company’s stock were exchanged, compared to its average volume of 504,369. The company has a market capitalization of $8.04 billion, a PE ratio of 33.60, a PEG ratio of 6.95 and a beta of 0.88. Royal Gold has a 12-month low of $100.55 and a 12-month high of $147.82. The business’s 50 day simple moving average is $116.55 and its 200-day simple moving average is $115.39. The company has a current ratio of 2.31, a quick ratio of 2.18 and a debt-to-equity ratio of 0.08.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last issued its quarterly earnings data on Wednesday, February 14th. The basic materials company reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.20. Royal Gold had a net margin of 39.53% and a return on equity of 8.18%. The business had revenue of $152.70 million for the quarter, compared to the consensus estimate of $140.32 million. During the same period in the previous year, the firm earned $0.91 EPS. The company’s quarterly revenue was down 6.3% compared to the same quarter last year. On average, equities research analysts anticipate that Royal Gold will post 4.36 earnings per share for the current year.

Royal Gold Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 19th. Investors of record on Friday, April 5th were given a $0.40 dividend. The ex-dividend date of this dividend was Thursday, April 4th. This represents a $1.60 dividend on an annualized basis and a yield of 1.31%. Royal Gold’s dividend payout ratio is presently 43.96%.

Insider Buying and Selling

In related news, SVP Randy Shefman sold 500 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $113.00, for a total value of $56,500.00. Following the completion of the sale, the senior vice president now directly owns 12,127 shares in the company, valued at $1,370,351. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.52% of the stock is owned by corporate insiders.

Institutional Trading of Royal Gold

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Capital World Investors increased its stake in Royal Gold by 0.6% in the fourth quarter. Capital World Investors now owns 8,169,223 shares of the basic materials company’s stock worth $988,149,000 after purchasing an additional 47,807 shares during the period. Vanguard Group Inc. increased its stake in Royal Gold by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 6,643,568 shares of the basic materials company’s stock worth $803,606,000 after purchasing an additional 22,921 shares during the period. Van ECK Associates Corp increased its stake in Royal Gold by 6.8% in the first quarter. Van ECK Associates Corp now owns 4,595,734 shares of the basic materials company’s stock worth $559,807,000 after purchasing an additional 292,357 shares during the period. First Eagle Investment Management LLC increased its stake in shares of Royal Gold by 1.0% during the fourth quarter. First Eagle Investment Management LLC now owns 3,667,169 shares of the basic materials company’s stock valued at $443,581,000 after buying an additional 37,885 shares during the period. Finally, Northern Trust Corp increased its stake in shares of Royal Gold by 0.5% during the third quarter. Northern Trust Corp now owns 699,138 shares of the basic materials company’s stock valued at $74,339,000 after buying an additional 3,541 shares during the period. Hedge funds and other institutional investors own 83.65% of the company’s stock.

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.