Royal Gold (NASDAQ:RGLD) Share Price Breaks Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Royal Gold shares moved above their 200-day moving average, reaching $242.24 before closing at $241.95 on trading volume of 822,193 shares.
• Analysts remain broadly positive, with eight Buy ratings and three Holds producing a “Moderate Buy” consensus and an average price target of $309.56.
• The company reported quarterly EPS of $2.56 and revenue of $468.98 million, exceeding expectations; revenue increased 114.9% year over year. Royal Gold also maintains a quarterly dividend of $0.475 per share, equivalent to a 0.8% annualized yield.

Royal Gold, Inc. (NASDAQ:RGLD - Get Free Report) TSE: RGL's stock price passed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $241.64 and traded as high as $242.24. Royal Gold shares last traded at $241.95, with a volume of 822,193 shares changing hands.

Wall Street Analyst Weigh In

RGLD has been the subject of several recent research reports. Raymond James Financial reissued an "outperform" rating and set a $336.00 price target on shares of Royal Gold in a research report on Tuesday, October 20th. Weiss Ratings raised Royal Gold from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, October 9th. TD dropped their price objective on Royal Gold from $315.00 to $311.00 and set a "buy" rating on the stock in a research note on Tuesday, October 20th. Canadian Imperial Bank of Commerce set a $305.00 price objective on Royal Gold in a report on Friday, October 16th. Finally, Scotiabank reissued a "sector perform" rating and issued a $310.00 target price on shares of Royal Gold in a research note on Tuesday, July 14th. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, Royal Gold has an average rating of "Moderate Buy" and a consensus price target of $309.56.

Royal Gold Stock Performance

The company has a market capitalization of $20.50 billion, a P/E ratio of 26.41, a PEG ratio of 1.68 and a beta of 0.45. The stock's fifty day moving average price is $246.77 and its 200-day moving average price is $241.64. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.68 and a current ratio of 2.92.

Royal Gold (NASDAQ:RGLD - Get Free Report) TSE: RGL last posted its quarterly earnings results on Wednesday, August 5th. The basic materials company reported $2.56 EPS for the quarter, topping analysts' consensus estimates of $2.55 by $0.01. The business had revenue of $468.98 million during the quarter, compared to analysts' expectations of $458.85 million. Royal Gold had a return on equity of 12.06% and a net margin of 47.74%. Royal Gold's quarterly revenue was up 114.9% on a year-over-year basis. During the same quarter last year, the company posted $1.81 earnings per share. As a group, research analysts anticipate that Royal Gold, Inc. will post 10.66 EPS for the current fiscal year.

Royal Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 16th. Shareholders of record on Friday, October 2nd were given a dividend of $0.4750 per share. This represents a $1.90 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Friday, October 2nd. Royal Gold's payout ratio is 20.74%.

Insider Buying and Selling

In other news, SVP Randy Shefman sold 500 shares of the stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $262.80, for a total value of $131,400.00. Following the transaction, the senior vice president directly owned 8,082 shares of the company's stock, valued at $2,123,949.60. This represents a 5.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.35% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Axiom Investment Management LLC bought a new position in shares of Royal Gold during the first quarter valued at $25,000. Grove Bank & Trust boosted its stake in Royal Gold by 88.6% in the 2nd quarter. Grove Bank & Trust now owns 132 shares of the basic materials company's stock worth $26,000 after purchasing an additional 62 shares in the last quarter. Eastern Bank boosted its stake in Royal Gold by 622.2% in the 3rd quarter. Eastern Bank now owns 130 shares of the basic materials company's stock worth $31,000 after purchasing an additional 112 shares in the last quarter. Scarborough Advisors LLC bought a new position in Royal Gold in the 1st quarter worth about $32,000. Finally, Core Capital Management & Research inc. bought a new position in Royal Gold in the 2nd quarter worth about $32,000. 83.65% of the stock is owned by institutional investors.

Royal Gold Company Profile

Royal Gold, Inc is a precious metals streaming and royalty company headquartered in Denver, Colorado. The company provides financing to mining companies in exchange for the right to purchase a portion of the gold, silver, copper, or other metals produced from their mines, typically at predetermined prices. It also holds royalty interests that entitle it to a percentage of revenue or production from mining operations without directly operating the mines.

Royal Gold's business is focused on acquiring and managing a diversified portfolio of streaming and royalty interests.

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