Royal Gold, Inc. (NASDAQ:RGLD) Receives $198.63 Consensus PT from Brokerages

Key Points

• Royal Gold, Inc. has received an average rating of "Moderate Buy" from eight analysts, with three holding ratings and five assigning buy ratings.
• Analysts have set an average 1-year price target at $198.63, with TD Securities recently increasing their price objective to $237.00.
• The company reported a 20.4% year-over-year revenue increase in its latest quarterly earnings, with an earnings per share of $1.81, exceeding estimates.

Shares of Royal Gold, Inc. (NASDAQ:RGLD - Get Free Report) TSE: RGL have received a consensus recommendation of "Moderate Buy" from the eight brokerages that are currently covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $198.6250.

RGLD has been the subject of several research reports. Canaccord Genuity Group increased their price objective on Royal Gold from $202.00 to $203.00 in a report on Wednesday, June 11th. Wall Street Zen raised Royal Gold from a "hold" rating to a "buy" rating in a report on Saturday, August 30th. Zacks Research lowered Royal Gold from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 19th. TD Securities reissued a "buy" rating and set a $237.00 price objective (up from $229.00) on shares of Royal Gold in a report on Friday, August 8th. Finally, BMO Capital Markets set a $197.00 target price on Royal Gold and gave the stock a "market perform" rating in a research report on Thursday, May 22nd.

Institutional Investors Weigh In On Royal Gold

Several institutional investors have recently made changes to their positions in the stock. AQR Capital Management LLC raised its position in shares of Royal Gold by 68.8% in the first quarter. AQR Capital Management LLC now owns 1,682,911 shares of the basic materials company's stock worth $274,887,000 after buying an additional 685,857 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Royal Gold by 17,722.4% in the first quarter. GAMMA Investing LLC now owns 457,501 shares of the basic materials company's stock worth $74,806,000 after buying an additional 454,934 shares in the last quarter. Select Equity Group L.P. purchased a new stake in shares of Royal Gold in the fourth quarter worth $55,825,000. Norges Bank purchased a new stake in shares of Royal Gold in the second quarter worth $68,029,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in shares of Royal Gold by 1,090.1% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 319,454 shares of the basic materials company's stock worth $56,811,000 after buying an additional 292,611 shares in the last quarter. Hedge funds and other institutional investors own 83.65% of the company's stock.

Royal Gold Trading Up 0.1%

Shares of RGLD stock traded up $0.13 during trading hours on Friday, hitting $189.32. 616,041 shares of the company were exchanged, compared to its average volume of 677,227. The firm has a fifty day simple moving average of $167.93 and a 200 day simple moving average of $170.16. Royal Gold has a 52-week low of $130.67 and a 52-week high of $191.78. The stock has a market capitalization of $12.46 billion, a price-to-earnings ratio of 27.76, a P/E/G ratio of 1.38 and a beta of 0.43.

Royal Gold (NASDAQ:RGLD - Get Free Report) TSE: RGL last announced its quarterly earnings data on Wednesday, August 6th. The basic materials company reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.11. Royal Gold had a return on equity of 13.30% and a net margin of 56.24%.The business had revenue of $209.64 million during the quarter, compared to analyst estimates of $186.63 million. During the same period in the prior year, the company earned $1.25 earnings per share. Royal Gold's revenue was up 20.4% compared to the same quarter last year. Sell-side analysts anticipate that Royal Gold will post 6.2 EPS for the current year.

Royal Gold Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Friday, October 3rd will be given a dividend of $0.45 per share. The ex-dividend date is Friday, October 3rd. This represents a $1.80 annualized dividend and a dividend yield of 1.0%. Royal Gold's dividend payout ratio is currently 26.39%.

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.