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

Key Points

• Royal Gold (NASDAQ:RGLD) reached a new 52-week high of $206.49 during trading, with the last price recorded at $202.54 and a trading volume of 67,691 shares.
• Analysts have mixed opinions on Royal Gold, with Zacks downgrading it to a "hold," while others, including TD Securities, maintain a "buy" rating with a price target raised to $237.00.
• The company announced a quarterly dividend of $0.45, representing a 0.9% yield, with the payment date set for October 17th and an ex-dividend date of October 3rd.

Shares of Royal Gold, Inc. (NASDAQ:RGLD - Get Free Report) TSE: RGL reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $206.49 and last traded at $202.54, with a volume of 67691 shares trading hands. The stock had previously closed at $205.23.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on RGLD shares. Zacks Research downgraded shares of Royal Gold from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 19th. Canaccord Genuity Group boosted their price target on Royal Gold from $202.00 to $203.00 in a report on Wednesday, June 11th. Wall Street Zen upgraded Royal Gold from a "hold" rating to a "buy" rating in a report on Saturday, August 30th. TD Securities reiterated a "buy" rating and issued a $237.00 target price (up from $229.00) on shares of Royal Gold in a research note on Friday, August 8th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Royal Gold in a research report on Wednesday. Six equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $198.63.

Royal Gold Trading Down 6.1%

The stock's 50-day moving average is $181.69 and its 200-day moving average is $175.44. The stock has a market cap of $12.69 billion, a price-to-earnings ratio of 28.26, a P/E/G ratio of 1.57 and a beta of 0.41.

Royal Gold (NASDAQ:RGLD - Get Free Report) TSE: RGL last posted its earnings results 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 net margin of 56.24% and a return on equity of 13.30%. The business had revenue of $209.64 million for the quarter, compared to analyst estimates of $186.63 million. During the same quarter in the previous year, the business posted $1.25 EPS. The business's quarterly revenue was up 20.4% on a year-over-year basis. On average, equities analysts predict that Royal Gold, Inc. will post 6.2 earnings per share for the current fiscal 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 of this dividend is Friday, October 3rd. This represents a $1.80 annualized dividend and a yield of 0.9%. Royal Gold's dividend payout ratio (DPR) is 26.39%.

Institutional Trading of Royal Gold

Large investors have recently modified their holdings of the business. WPG Advisers LLC purchased a new stake in Royal Gold during the 1st quarter worth approximately $27,000. Cullen Frost Bankers Inc. raised its holdings in Royal Gold by 548.1% in the second quarter. Cullen Frost Bankers Inc. now owns 175 shares of the basic materials company's stock valued at $31,000 after acquiring an additional 148 shares in the last quarter. Alpine Bank Wealth Management bought a new position in Royal Gold during the 1st quarter valued at $32,000. Banque Cantonale Vaudoise bought a new stake in shares of Royal Gold in the 1st quarter worth about $34,000. Finally, Blue Trust Inc. raised its stake in shares of Royal Gold by 56.8% in the 2nd quarter. Blue Trust Inc. now owns 196 shares of the basic materials company's stock valued at $35,000 after purchasing an additional 71 shares in the last quarter. 83.65% of the stock is currently 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.

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