Royal Gold (NASDAQ:RGLD) Stock Price Expected to Rise, CIBC Analyst Says

Key Points

• CIBC analysts raised the price target for Royal Gold (NASDAQ:RGLD) from $225.00 to $250.00, indicating a potential upside of 29.16% from the previous close.
• Royal Gold recently posted $1.81 earnings per share for the last quarter, exceeding expectations and resulting in a 20.4% increase in quarterly revenue compared to the previous year.
• Institutional investors and hedge funds collectively own 83.65% of Royal Gold's stock, with significant share purchases from firms like Vanguard and AQR Capital Management.

Royal Gold (NASDAQ:RGLD - Get Free Report) TSE: RGL had its price objective upped by research analysts at CIBC from $225.00 to $250.00 in a report released on Friday,Benzinga reports. The firm presently has a "neutral" rating on the basic materials company's stock. CIBC's price objective would indicate a potential upside of 29.16% from the company's previous close.

A number of other equities analysts also recently commented on the stock. TD Securities reaffirmed a "buy" rating and issued a $237.00 price objective (up previously from $229.00) on shares of Royal Gold in a report on Friday, August 8th. Wall Street Zen upgraded shares of Royal Gold from a "hold" rating to a "buy" rating in a research note on Saturday, August 30th. Zacks Research lowered shares of Royal Gold from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 19th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Royal Gold in a research note on Wednesday. Six equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $203.00.

Royal Gold Price Performance

NASDAQ:RGLD traded up $0.83 on Friday, reaching $193.56. The stock had a trading volume of 266,171 shares, compared to its average volume of 693,710. The company has a market cap of $12.74 billion, a price-to-earnings ratio of 28.29, a P/E/G ratio of 1.62 and a beta of 0.41. The firm's fifty day moving average is $182.52 and its two-hundred day moving average is $175.68. Royal Gold has a 12-month low of $130.67 and a 12-month high of $206.49.

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 (EPS) 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 company had revenue of $209.64 million during the quarter, compared to analysts' expectations of $186.63 million. During the same period in the previous year, the company earned $1.25 EPS. The business's quarterly revenue was up 20.4% compared to the same quarter last year. As a group, research analysts forecast that Royal Gold will post 6.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Royal Gold

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in Royal Gold by 0.7% during the first quarter. Vanguard Group Inc. now owns 6,698,891 shares of the basic materials company's stock worth $1,095,336,000 after buying an additional 46,956 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Royal Gold by 8.2% in the second quarter. AQR Capital Management LLC now owns 1,820,435 shares of the basic materials company's stock valued at $319,140,000 after buying an additional 137,524 shares during the last quarter. Geode Capital Management LLC grew its holdings in Royal Gold by 3.6% during the 2nd quarter. Geode Capital Management LLC now owns 1,751,136 shares of the basic materials company's stock worth $311,457,000 after acquiring an additional 61,352 shares during the period. Findlay Park Partners LLP raised its position in shares of Royal Gold by 1.4% during the 1st quarter. Findlay Park Partners LLP now owns 1,241,030 shares of the basic materials company's stock valued at $202,921,000 after acquiring an additional 16,600 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Royal Gold by 6.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 933,488 shares of the basic materials company's stock valued at $152,628,000 after acquiring an additional 55,685 shares during the last quarter. Institutional investors and hedge funds 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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