TD Securities Forecasts Strong Price Appreciation for Royal Gold (NASDAQ:RGLD) Stock

Royal Gold (NASDAQ:RGLD) (TSE:RGL) had its target price hoisted by TD Securities from $181.00 to $185.00 in a research report sent to investors on Thursday morning,BayStreet.CA reports. The firm currently has a buy rating on the basic materials company’s stock.

A number of other brokerages have also recently weighed in on RGLD. Jefferies Financial Group upped their price objective on shares of Royal Gold from $141.00 to $154.00 and gave the stock a “hold” rating in a report on Friday, October 4th. Cibc World Mkts raised Royal Gold to a “hold” rating in a research report on Wednesday, July 10th. Raymond James lifted their price objective on Royal Gold from $167.00 to $170.00 and gave the company an “outperformer” rating in a research note on Friday, August 9th. Scotiabank increased their target price on Royal Gold from $148.00 to $157.00 and gave the stock a “sector perform” rating in a research note on Monday, August 19th. Finally, BMO Capital Markets lifted their price target on Royal Gold from $168.00 to $170.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $163.14.

Royal Gold Stock Up 1.8 %

NASDAQ RGLD opened at $149.93 on Thursday. The firm has a market capitalization of $9.86 billion, a PE ratio of 34.39, a P/E/G ratio of 1.19 and a beta of 0.90. The stock’s 50 day moving average is $143.61 and its 200 day moving average is $134.98. Royal Gold has a twelve month low of $100.55 and a twelve month high of $155.10.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last announced its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $1.47 EPS for the quarter, beating the consensus estimate of $1.34 by $0.13. The business had revenue of $193.84 million during the quarter, compared to analyst estimates of $184.12 million. Royal Gold had a return on equity of 10.28% and a net margin of 42.93%. The company’s revenue for the quarter was up 39.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.76 earnings per share. On average, research analysts anticipate that Royal Gold will post 4.99 earnings per share for the current year.

Royal Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Friday, October 4th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, October 4th. This represents a $1.60 annualized dividend and a yield of 1.07%. Royal Gold’s payout ratio is 36.70%.

Insider Buying and Selling at Royal Gold

In other news, SVP Daniel Breeze sold 840 shares of Royal Gold stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $143.43, for a total value of $120,481.20. Following the completion of the sale, the senior vice president now directly owns 16,842 shares in the company, valued at $2,415,648.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Ronald J. Vance sold 1,000 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $132.16, for a total transaction of $132,160.00. Following the completion of the sale, the director now owns 9,109 shares in the company, valued at approximately $1,203,845.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Daniel Breeze sold 840 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $143.43, for a total value of $120,481.20. Following the completion of the transaction, the senior vice president now directly owns 16,842 shares in the company, valued at $2,415,648.06. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,355 shares of company stock worth $1,170,315. Company insiders own 0.52% of the company’s stock.

Institutional Investors Weigh In On Royal Gold

Hedge funds and other institutional investors have recently made changes to their positions in the business. DekaBank Deutsche Girozentrale raised its holdings in Royal Gold by 1,800.2% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 19,363 shares of the basic materials company’s stock worth $2,306,000 after purchasing an additional 18,344 shares during the period. BNP Paribas Financial Markets raised its stake in shares of Royal Gold by 151.2% in the first quarter. BNP Paribas Financial Markets now owns 24,941 shares of the basic materials company’s stock worth $3,037,000 after buying an additional 15,012 shares during the period. CANADA LIFE ASSURANCE Co lifted its position in shares of Royal Gold by 36.1% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 55,368 shares of the basic materials company’s stock valued at $6,746,000 after buying an additional 14,675 shares in the last quarter. Tidal Investments LLC grew its stake in shares of Royal Gold by 165.0% during the 1st quarter. Tidal Investments LLC now owns 10,626 shares of the basic materials company’s stock valued at $1,294,000 after acquiring an additional 6,616 shares during the period. Finally, Vanguard Group Inc. increased its holdings in Royal Gold by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 6,664,975 shares of the basic materials company’s stock worth $811,861,000 after acquiring an additional 21,407 shares in the last quarter. Hedge funds and other institutional investors own 83.65% of the company’s stock.

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.