BMO Capital Markets Trims Royal Gold (NASDAQ:RGLD) Target Price to $162.00

Royal Gold (NASDAQ:RGLD) (TSE:RGL) had its price objective lowered by BMO Capital Markets from $163.00 to $162.00 in a research report report published on Thursday morning, Benzinga reports. BMO Capital Markets currently has an outperform rating on the basic materials company’s stock.

RGLD has been the subject of a number of other research reports. National Bank Financial raised Royal Gold from a sector perform rating to an outperform rating in a research report on Thursday, February 15th. Jefferies Financial Group began coverage on Royal Gold in a research report on Thursday, February 29th. They issued a hold rating and a $117.00 price objective for the company. Finally, Cantor Fitzgerald cut Royal Gold from an overweight rating to a neutral rating in a research report on Thursday, February 15th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $143.75.

Royal Gold Stock Up 0.6 %

NASDAQ RGLD traded up $0.74 during midday trading on Thursday, hitting $122.29. 276,105 shares of the company traded hands, compared to its average volume of 504,369. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.31 and a quick ratio of 2.18. The company has a market cap of $8.04 billion, a PE ratio of 33.60, a price-to-earnings-growth ratio of 6.99 and a beta of 0.88. Royal Gold has a 52 week low of $100.55 and a 52 week high of $147.82. The company’s 50-day simple moving average is $116.55 and its 200-day simple moving average is $115.42.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last posted its quarterly earnings data on Wednesday, February 14th. The basic materials company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.20. The firm had revenue of $152.70 million during the quarter, compared to analysts’ expectations of $140.32 million. Royal Gold had a return on equity of 8.18% and a net margin of 39.53%. The business’s quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.91 EPS. As a group, equities research analysts forecast that Royal Gold will post 4.36 earnings per share for the current year.

Royal Gold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 19th. Investors of record on Friday, April 5th were paid a $0.40 dividend. The ex-dividend date of this dividend was Thursday, April 4th. This represents a $1.60 dividend on an annualized basis and a yield of 1.31%. Royal Gold’s dividend payout ratio (DPR) is 43.96%.

Insider Buying and Selling at Royal Gold

In other news, VP Randy Shefman sold 500 shares of the company’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $104.18, for a total value of $52,090.00. Following the sale, the vice president now owns 9,473 shares in the company, valued at $986,897.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.52% of the company’s stock.

Hedge Funds Weigh In On Royal Gold

Several institutional investors have recently made changes to their positions in the company. Xponance Inc. increased its stake in shares of Royal Gold by 30.1% in the 3rd quarter. Xponance Inc. now owns 10,397 shares of the basic materials company’s stock valued at $1,106,000 after purchasing an additional 2,405 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Royal Gold by 18.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,150 shares of the basic materials company’s stock worth $1,505,000 after buying an additional 2,242 shares during the period. Advisor Partners II LLC lifted its position in shares of Royal Gold by 19.7% during the 3rd quarter. Advisor Partners II LLC now owns 3,331 shares of the basic materials company’s stock valued at $354,000 after buying an additional 549 shares in the last quarter. Community Bank N.A. acquired a new stake in Royal Gold in the 3rd quarter valued at $266,000. Finally, Inspire Investing LLC grew its stake in Royal Gold by 5.4% in the 3rd quarter. Inspire Investing LLC now owns 2,895 shares of the basic materials company’s stock valued at $308,000 after acquiring an additional 148 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.