Royal Gold (NASDAQ:RGLD) Given New $203.00 Price Target at Bank of America

Key Points

• Bank of America has raised its price target for Royal Gold from $193.00 to $203.00, maintaining an "underperform" rating, which indicates a potential upside of just 0.38% from the current stock price.
• Several other research firms have issued varying ratings for Royal Gold, with TD Securities setting a buy rating and a price target of $237.00, while CIBC has a price target of $250.00 with a neutral rating.
• Royal Gold recently reported quarterly earnings of $1.81 EPS, exceeding estimates, with revenues of $209.64 million, reflecting a year-over-year growth of 20.4%.

Royal Gold (NASDAQ:RGLD - Get Free Report) TSE: RGL had its target price boosted by Bank of America from $193.00 to $203.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an "underperform" rating on the basic materials company's stock. Bank of America's target price suggests a potential upside of 0.38% from the stock's current price.

RGLD has been the topic of a number of other research reports. TD Securities reissued a "buy" rating and issued a $237.00 price objective (up previously from $229.00) on shares of Royal Gold in a research note on Friday, August 8th. Weiss Ratings reissued a "buy (b)" rating on shares of Royal Gold in a research note on Wednesday, October 8th. CIBC boosted their price objective on Royal Gold from $225.00 to $250.00 and gave the stock a "neutral" rating in a research note on Friday, October 10th. Wall Street Zen raised Royal Gold from a "hold" rating to a "buy" rating in a research note on Saturday, August 30th. Finally, Zacks Research lowered Royal Gold from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 19th. Six equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Royal Gold currently has an average rating of "Moderate Buy" and an average target price of $203.00.

Royal Gold Stock Performance

Royal Gold stock opened at $202.24 on Thursday. The firm has a market cap of $13.31 billion, a P/E ratio of 29.65, a P/E/G ratio of 1.58 and a beta of 0.41. The business's fifty day moving average is $185.82 and its two-hundred day moving average is $176.74. Royal Gold has a 52 week low of $130.67 and a 52 week high of $206.49.

Royal Gold (NASDAQ:RGLD - Get Free Report) TSE: RGL last posted its quarterly earnings data on Wednesday, August 6th. The basic materials company reported $1.81 EPS for the quarter, topping analysts' consensus estimates of $1.70 by $0.11. The company had revenue of $209.64 million for the quarter, compared to analyst estimates of $186.63 million. Royal Gold had a return on equity of 13.30% and a net margin of 56.24%.The business's revenue was up 20.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.25 earnings per share. On average, equities research analysts predict that Royal Gold will post 6.2 earnings per share for the current year.

Institutional Investors Weigh In On Royal Gold

Several large investors have recently modified their holdings of RGLD. AQR Capital Management LLC increased its holdings 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 acquiring an additional 685,857 shares in the last quarter. Norges Bank bought a new position in shares of Royal Gold during the second quarter worth about $68,029,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in shares of Royal Gold by 1,090.1% during 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. Arrowstreet Capital Limited Partnership grew its holdings in shares of Royal Gold by 52.3% during the second quarter. Arrowstreet Capital Limited Partnership now owns 833,181 shares of the basic materials company's stock worth $148,173,000 after buying an additional 286,268 shares in the last quarter. Finally, Nomura Holdings Inc. bought a new position in shares of Royal Gold during the second quarter worth about $45,184,000. 83.65% of the stock is currently owned by institutional investors.

About Royal Gold

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.

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