Royal Gold (NASDAQ:RGLD - Get Rating) (TSE:RGL) had its price target decreased by analysts at Raymond James from $144.00 to $142.00 in a research report issued to clients and investors on Friday, BayStreet.CA reports. The brokerage currently has an "outperform" rating on the basic materials company's stock. Raymond James' price objective would suggest a potential upside of 39.65% from the company's previous close. Raymond James also issued estimates for Royal Gold's Q1 2023 earnings at $0.90 EPS, Q2 2023 earnings at $0.94 EPS, Q3 2023 earnings at $0.98 EPS, Q4 2023 earnings at $0.98 EPS and FY2023 earnings at $3.79 EPS.
RGLD has been the subject of a number of other reports. National Bankshares decreased their target price on Royal Gold from $165.00 to $150.00 and set a "sector perform" rating for the company in a research report on Thursday, July 21st. Canaccord Genuity Group raised Royal Gold from a "hold" rating to a "buy" rating in a research note on Monday, June 13th. National Bank Financial dropped their price target on Royal Gold from $165.00 to $150.00 in a research note on Thursday, July 21st. Canaccord Genuity Group raised Royal Gold from a "hold" rating to a "buy" rating in a research note on Monday, June 13th. Finally, Barclays lowered their target price on Royal Gold from $130.00 to $114.00 and set an "equal weight" rating for the company in a research note on Tuesday, July 19th. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Royal Gold currently has an average rating of "Hold" and an average price target of $138.40.
Royal Gold Price Performance
Shares of RGLD stock traded down $1.01 during trading hours on Friday, reaching $101.68. The company had a trading volume of 12,624 shares, compared to its average volume of 508,057. Royal Gold has a 12 month low of $92.01 and a 12 month high of $147.70. The business has a fifty day simple moving average of $108.13 and a 200-day simple moving average of $119.07. The company has a market cap of $6.67 billion, a price-to-earnings ratio of 24.32, a price-to-earnings-growth ratio of 2.76 and a beta of 0.61.
Royal Gold (NASDAQ:RGLD - Get Rating) (TSE:RGL) last issued its quarterly earnings results on Wednesday, May 4th. The basic materials company reported $0.99 EPS for the quarter, topping analysts' consensus estimates of $0.83 by $0.16. The business had revenue of $162.40 million for the quarter, compared to analyst estimates of $156.00 million. Royal Gold had a return on equity of 9.94% and a net margin of 42.22%. Royal Gold's quarterly revenue was up 13.9% compared to the same quarter last year. During the same period last year, the company posted $0.84 earnings per share. On average, equities research analysts expect that Royal Gold will post 3.68 earnings per share for the current year.
Insiders Place Their Bets
In other Royal Gold news, VP Randy Shefman sold 638 shares of the company's stock in a transaction that occurred on Thursday, June 2nd. The stock was sold at an average price of $117.57, for a total transaction of $75,009.66. Following the transaction, the vice president now owns 9,456 shares in the company, valued at approximately $1,111,741.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.38% of the company's stock.
Institutional Trading of Royal Gold
Several hedge funds and other institutional investors have recently made changes to their positions in RGLD. Victory Capital Management Inc. lifted its position in Royal Gold by 4.3% in the 1st quarter. Victory Capital Management Inc. now owns 155,796 shares of the basic materials company's stock valued at $20,328,000 after acquiring an additional 6,363 shares in the last quarter. MAI Capital Management bought a new position in Royal Gold in the 4th quarter valued at approximately $250,000. Louisiana State Employees Retirement System lifted its position in Royal Gold by 1.8% in the 1st quarter. Louisiana State Employees Retirement System now owns 17,200 shares of the basic materials company's stock valued at $2,481,000 after acquiring an additional 300 shares in the last quarter. Confluence Investment Management LLC lifted its position in Royal Gold by 8.0% in the 1st quarter. Confluence Investment Management LLC now owns 3,106 shares of the basic materials company's stock valued at $439,000 after acquiring an additional 229 shares in the last quarter. Finally, Qube Research & Technologies Ltd lifted its position in Royal Gold by 49.8% in the 4th quarter. Qube Research & Technologies Ltd now owns 69,844 shares of the basic materials company's stock valued at $7,348,000 after acquiring an additional 23,212 shares in the last quarter. Hedge funds and other institutional investors own 80.33% 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. It focuses on acquiring stream and royalty interests or to finance projects that are in production or in development stage in exchange for stream or royalty interests, which primarily consists of gold, silver, copper, nickel, zinc, lead, and cobalt.
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