CIBC Boosts Royal Gold (NASDAQ:RGLD) Price Target to $175.00

Royal Gold (NASDAQ:RGLD) (TSE:RGL) had its price objective upped by stock analysts at CIBC from $166.00 to $175.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the basic materials company’s stock. CIBC’s price target indicates a potential upside of 31.49% from the company’s current price.

A number of other equities research analysts have also recently commented on the company. Scotiabank raised their target price on Royal Gold from $144.00 to $148.00 and gave the company a “sector perform” rating in a research report on Thursday, May 23rd. Bank of America raised their target price on Royal Gold from $129.00 to $131.00 and gave the company an “underperform” rating in a research report on Wednesday, June 26th. Finally, BMO Capital Markets raised their target price on Royal Gold from $168.00 to $170.00 and gave the company an “outperform” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $149.75.

Royal Gold Stock Performance

RGLD traded up $1.73 during midday trading on Wednesday, hitting $133.09. 267,269 shares of the company were exchanged, compared to its average volume of 405,759. The company’s 50 day simple moving average is $126.55 and its 200 day simple moving average is $119.68. The firm has a market capitalization of $8.75 billion, a price-to-earnings ratio of 39.26, a price-to-earnings-growth ratio of 1.08 and a beta of 0.87. The company has a current ratio of 2.50, a quick ratio of 2.35 and a debt-to-equity ratio of 0.05. Royal Gold has a 1-year low of $100.55 and a 1-year high of $134.56.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last announced its quarterly earnings results on Wednesday, May 8th. The basic materials company reported $0.91 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.04). Royal Gold had a return on equity of 7.96% and a net margin of 38.12%. The company had revenue of $148.90 million for the quarter, compared to analyst estimates of $147.02 million. During the same period in the prior year, the business posted $0.96 earnings per share. Royal Gold’s revenue for the quarter was down 12.6% on a year-over-year basis. As a group, sell-side analysts predict that Royal Gold will post 4.56 earnings per share for the current year.

Insiders Place Their Bets

In other Royal Gold news, SVP Daniel Breeze sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $130.73, for a total value of $196,095.00. Following the transaction, the senior vice president now directly owns 14,840 shares of the company’s stock, valued at approximately $1,940,033.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.52% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Commerce Bank lifted its stake in Royal Gold by 4.3% in the 4th quarter. Commerce Bank now owns 2,356 shares of the basic materials company’s stock worth $285,000 after purchasing an additional 98 shares in the last quarter. Dana Investment Advisors Inc. raised its position in shares of Royal Gold by 0.5% during the 4th quarter. Dana Investment Advisors Inc. now owns 23,255 shares of the basic materials company’s stock valued at $2,813,000 after buying an additional 110 shares during the period. Birch Capital Management LLC raised its position in shares of Royal Gold by 16.5% during the 1st quarter. Birch Capital Management LLC now owns 799 shares of the basic materials company’s stock valued at $97,000 after buying an additional 113 shares during the period. Quadrant Capital Group LLC raised its position in shares of Royal Gold by 31.3% during the 4th quarter. Quadrant Capital Group LLC now owns 487 shares of the basic materials company’s stock valued at $59,000 after buying an additional 116 shares during the period. Finally, Wellington Management Group LLP raised its position in shares of Royal Gold by 0.3% during the 3rd quarter. Wellington Management Group LLP now owns 45,382 shares of the basic materials company’s stock valued at $4,825,000 after buying an additional 125 shares during the period. 83.65% of the stock is owned by hedge funds and other institutional investors.

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.