Royal Gold (NASDAQ:RGLD) Price Target Raised to $203.00

Royal Gold (NASDAQ:RGLD - Get Free Report) TSE: RGL had its price target increased by equities research analysts at Canaccord Genuity Group from $202.00 to $203.00 in a research note issued on Wednesday,BayStreet.CA reports. Canaccord Genuity Group's price objective indicates a potential upside of 11.36% from the stock's current price.

Several other research firms have also recently issued reports on RGLD. Raymond James raised their price objective on shares of Royal Gold from $181.00 to $200.00 and gave the stock an "outperform" rating in a research report on Friday, April 4th. BMO Capital Markets set a $197.00 price objective on shares of Royal Gold and gave the company a "market perform" rating in a research note on Thursday, May 22nd. Wall Street Zen raised shares of Royal Gold from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 24th. Scotiabank upgraded shares of Royal Gold from a "sector perform" rating to a "sector outperform" rating and lifted their price target for the stock from $166.00 to $189.00 in a research note on Monday, April 14th. Finally, Royal Bank of Canada decreased their price target on shares of Royal Gold from $175.00 to $170.00 and set an "outperform" rating for the company in a research note on Friday, April 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $185.33.

Royal Gold Stock Up 1.8%

Shares of NASDAQ:RGLD traded up $3.26 during midday trading on Wednesday, reaching $182.29. The company's stock had a trading volume of 1,697,487 shares, compared to its average volume of 432,225. The firm has a market capitalization of $12.00 billion, a PE ratio of 36.17, a P/E/G ratio of 3.42 and a beta of 0.44. Royal Gold has a twelve month low of $120.00 and a twelve month high of $191.78. The stock has a fifty day moving average of $178.15 and a 200 day moving average of $157.11.

Royal Gold (NASDAQ:RGLD - Get Free Report) TSE: RGL last announced its quarterly earnings results on Wednesday, May 7th. The basic materials company reported $1.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.37 by $0.14. The firm had revenue of $193.44 million for the quarter, compared to the consensus estimate of $176.17 million. Royal Gold had a net margin of 46.15% and a return on equity of 11.46%. The firm's quarterly revenue was up 29.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.91 earnings per share. Sell-side analysts anticipate that Royal Gold will post 6.2 earnings per share for the current fiscal year.

Insider Transactions at Royal Gold

In related news, SVP Randy Shefman sold 1,300 shares of the company's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $154.98, for a total value of $201,474.00. Following the completion of the sale, the senior vice president now owns 9,360 shares in the company, valued at $1,450,612.80. This represents a 12.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.49% of the company's stock.

Hedge Funds Weigh In On Royal Gold

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. WPG Advisers LLC purchased a new stake in shares of Royal Gold in the 1st quarter worth about $27,000. Alpine Bank Wealth Management purchased a new position in shares of Royal Gold during the 1st quarter worth about $32,000. Banque Cantonale Vaudoise purchased a new position in shares of Royal Gold during the 1st quarter worth about $34,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Royal Gold during the 1st quarter worth about $40,000. Finally, Bayforest Capital Ltd lifted its holdings in shares of Royal Gold by 256.5% during the 1st quarter. Bayforest Capital Ltd now owns 246 shares of the basic materials company's stock worth $40,000 after acquiring an additional 177 shares during the period. 83.65% of the stock is owned by institutional investors and hedge funds.

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.