Royal Gold (NASDAQ:RGLD) Price Target Lowered to $142.00 at Raymond James

Royal Gold (NASDAQ:RGLDGet Rating) (TSE:RGL) had its price target decreased by Raymond James from $144.00 to $142.00 in a report published on Friday, BayStreet.CA reports. Raymond James currently has an outperform rating on the basic materials company’s stock. Raymond James also issued estimates for Royal Gold’s FY2022 earnings at $3.51 EPS, Q1 2023 earnings at $0.90 EPS, Q2 2023 earnings at $0.94 EPS, Q3 2023 earnings at $0.98 EPS, Q4 2023 earnings at $0.98 EPS, FY2023 earnings at $3.76 EPS and FY2023 earnings at $3.79 EPS.

Several other equities research analysts have also recently issued reports on the stock. Canaccord Genuity Group upgraded shares of Royal Gold from a hold rating to a buy rating in a report on Monday, June 13th. National Bankshares dropped their target price on shares of Royal Gold from $165.00 to $150.00 and set a sector perform rating on the stock in a report on Thursday, July 21st. Canaccord Genuity Group upgraded shares of Royal Gold from a hold rating to a buy rating in a report on Monday, June 13th. Barclays dropped their price target on shares of Royal Gold from $130.00 to $114.00 and set an equal weight rating on the stock in a research note on Tuesday, July 19th. Finally, BMO Capital Markets dropped their price target on shares of Royal Gold from $142.00 to $140.00 and set a market perform rating on the stock in a research note on Thursday. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Royal Gold presently has a consensus rating of Hold and an average price target of $138.40.

Royal Gold Stock Down 0.0 %

Shares of RGLD opened at $102.67 on Friday. The company has a market capitalization of $6.74 billion, a P/E ratio of 24.50, a price-to-earnings-growth ratio of 2.79 and a beta of 0.61. The firm has a 50 day moving average of $107.88 and a 200 day moving average of $119.09. Royal Gold has a twelve month low of $92.01 and a twelve month high of $147.70.

Royal Gold (NASDAQ:RGLDGet Rating) (TSE:RGL) last issued its earnings results on Wednesday, May 4th. The basic materials company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.16. Royal Gold had a net margin of 42.22% and a return on equity of 9.85%. The company had revenue of $162.40 million for the quarter, compared to analysts’ expectations of $156.00 million. During the same quarter last year, the company posted $0.84 earnings per share. The firm’s quarterly revenue was up 13.9% on a year-over-year basis. On average, sell-side analysts expect that Royal Gold will post 3.68 EPS for the current year.

Royal Gold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Friday, July 1st were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date of this dividend was Thursday, June 30th. Royal Gold’s dividend payout ratio (DPR) is 33.41%.

Insider Activity at Royal Gold

In other Royal Gold news, VP Randy Shefman sold 638 shares of Royal Gold stock in a transaction on Thursday, June 2nd. The shares were sold at an average price of $117.57, for a total value of $75,009.66. Following the sale, the vice president now directly owns 9,456 shares in the company, valued at approximately $1,111,741.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.38% of the stock is owned by corporate insiders.

Institutional Trading of Royal Gold

A number of institutional investors and hedge funds have recently bought and sold shares of RGLD. State Street Corp increased its holdings in Royal Gold by 66.2% in the 1st quarter. State Street Corp now owns 4,153,139 shares of the basic materials company’s stock valued at $588,192,000 after acquiring an additional 1,654,360 shares during the last quarter. Aaron Wealth Advisors LLC increased its holdings in shares of Royal Gold by 14,555.6% in the 1st quarter. Aaron Wealth Advisors LLC now owns 1,381,294 shares of the basic materials company’s stock worth $9,777,000 after buying an additional 1,371,869 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Royal Gold by 469.9% in the 4th quarter. Millennium Management LLC now owns 753,282 shares of the basic materials company’s stock worth $79,253,000 after buying an additional 621,100 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of Royal Gold by 15.0% in the 1st quarter. Van ECK Associates Corp now owns 3,570,680 shares of the basic materials company’s stock worth $504,466,000 after buying an additional 464,697 shares during the last quarter. Finally, Clearbridge Investments LLC bought a new stake in shares of Royal Gold in the 1st quarter worth about $56,762,000. 80.33% of the stock is currently owned by institutional investors.

Royal Gold Company Profile

(Get Rating)

Royal Gold, Inc, together with its subsidiaries, acquires and manages precious metal streams, royalties, and related interests. It focuses on acquiring stream and royalty interests or to finance projects that are in production or in development stage in exchange for stream or royalty interests, which primarily consists of gold, silver, copper, nickel, zinc, lead, and cobalt.

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Analyst Recommendations for Royal Gold (NASDAQ:RGLD)

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