Royal Gold (NASDAQ:RGLD) Sets New 52-Week High - Should You Buy?

Key Points

• Royal Gold's stock reached a new 52-week high of $192.23, indicating positive trading activity with a recent volume of 133,429 shares.
• Analysts have varying ratings for Royal Gold, with an average consensus rating of "Moderate Buy" and a target price of $198.63, while five analysts rate it as a Buy and three as a Hold.
• The company recently announced a quarterly dividend of $0.45, representing an annualized yield of 0.9% and a payout ratio of 26.39%.

Royal Gold, Inc. (NASDAQ:RGLD - Get Free Report) TSE: RGL's stock price reached a new 52-week high during trading on Monday . The stock traded as high as $192.14 and last traded at $192.23, with a volume of 133429 shares. The stock had previously closed at $189.32.

Wall Street Analyst Weigh In

RGLD has been the subject of several research reports. BMO Capital Markets set a $197.00 price objective on shares of Royal Gold and gave the stock a "market perform" rating in a research note on Thursday, May 22nd. TD Securities restated a "buy" rating and set a $237.00 target price (up from $229.00) on shares of Royal Gold in a research report on Friday, August 8th. Canaccord Genuity Group boosted their target price on shares of Royal Gold from $202.00 to $203.00 in a research report on Wednesday, June 11th. Zacks Research downgraded shares of Royal Gold from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 19th. Finally, Wall Street Zen upgraded shares of Royal Gold from a "hold" rating to a "buy" rating in a research report on Saturday, August 30th. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $198.63.

Royal Gold Stock Up 3.2%

The business's 50-day simple moving average is $167.93 and its two-hundred day simple moving average is $170.33. The firm has a market cap of $12.87 billion, a price-to-earnings ratio of 28.66, a P/E/G ratio of 1.39 and a beta of 0.43.

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

Royal Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Friday, October 3rd will be given a $0.45 dividend. The ex-dividend date is Friday, October 3rd. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.9%. Royal Gold's dividend payout ratio is 26.39%.

Institutional Trading of Royal Gold

A number of institutional investors and hedge funds have recently modified their holdings of the stock. PFG Investments LLC increased its stake in shares of Royal Gold by 0.9% during the first quarter. PFG Investments LLC now owns 5,938 shares of the basic materials company's stock worth $971,000 after purchasing an additional 54 shares in the last quarter. BCS Wealth Management increased its stake in shares of Royal Gold by 0.3% during the first quarter. BCS Wealth Management now owns 20,704 shares of the basic materials company's stock worth $3,385,000 after purchasing an additional 63 shares in the last quarter. NorthRock Partners LLC increased its stake in shares of Royal Gold by 4.5% during the first quarter. NorthRock Partners LLC now owns 1,586 shares of the basic materials company's stock worth $259,000 after purchasing an additional 68 shares in the last quarter. Blue Trust Inc. increased its stake in shares of Royal Gold by 56.8% during the second quarter. Blue Trust Inc. now owns 196 shares of the basic materials company's stock worth $35,000 after purchasing an additional 71 shares in the last quarter. Finally, Signaturefd LLC increased its stake in shares of Royal Gold by 7.5% during the second quarter. Signaturefd LLC now owns 1,061 shares of the basic materials company's stock worth $189,000 after purchasing an additional 74 shares in the last quarter. Hedge funds and other institutional investors own 83.65% 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. 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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