Royal Gold (NASDAQ:RGLD) Given New $315.00 Price Target at TD

Royal Gold (NASDAQ:RGLD) (TSE:RGL) had its target price raised by equities research analysts at TD from $289.00 to $315.00 in a research report issued to clients and investors on Thursday, BayStreet reports. The firm presently has a “buy” rating on the basic materials company’s stock. TD’s price target would indicate a potential upside of 23.59% from the stock’s current price.

Several other research analysts also recently issued reports on the stock. UBS Group boosted their price objective on shares of Royal Gold from $280.00 to $285.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Scotiabank reiterated a “sector perform” rating and issued a $310.00 target price on shares of Royal Gold in a research note on Tuesday, July 14th. Jefferies Financial Group decreased their target price on Royal Gold from $318.00 to $311.00 and set a “buy” rating on the stock in a research report on Monday, July 6th. Zacks Research upgraded Royal Gold from a “strong sell” rating to a “hold” rating in a research note on Monday. Finally, Royal Bank Of Canada cut their price target on Royal Gold from $310.00 to $305.00 and set an “outperform” rating for the company in a report on Thursday, July 9th. Eight research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $287.82.

Royal Gold Stock Performance

NASDAQ RGLD traded down $7.66 during trading on Thursday, hitting $254.88. The company’s stock had a trading volume of 242,108 shares, compared to its average volume of 868,944. Royal Gold has a 52 week low of $168.88 and a 52 week high of $306.25. The firm has a market cap of $21.60 billion, a P/E ratio of 27.82, a price-to-earnings-growth ratio of 1.97 and a beta of 0.50. The firm has a 50 day moving average price of $224.07 and a 200 day moving average price of $235.34. The company has a quick ratio of 2.68, a current ratio of 2.92 and a debt-to-equity ratio of 0.05.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last posted its quarterly earnings data on Wednesday, August 5th. The basic materials company reported $2.56 earnings per share for the quarter, beating the consensus estimate of $2.55 by $0.01. The company had revenue of $468.98 million during the quarter, compared to analysts’ expectations of $458.85 million. Royal Gold had a return on equity of 12.06% and a net margin of 47.74%.Royal Gold’s revenue for the quarter was up 114.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.81 earnings per share. Equities research analysts forecast that Royal Gold will post 10.26 earnings per share for the current fiscal year.

Insider Activity at Royal Gold

In other news, SVP Randy Shefman sold 500 shares of the firm’s stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $262.80, for a total transaction of $131,400.00. Following the completion of the transaction, the senior vice president directly owned 8,082 shares of the company’s stock, valued at approximately $2,123,949.60. This trade represents a 5.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.35% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Axiom Investment Management LLC acquired a new stake in Royal Gold during the first quarter valued at approximately $25,000. Grove Bank & Trust lifted its position in shares of Royal Gold by 88.6% during the 2nd quarter. Grove Bank & Trust now owns 132 shares of the basic materials company’s stock worth $26,000 after buying an additional 62 shares during the period. Elyxium Wealth LLC acquired a new stake in Royal Gold in the 4th quarter valued at $27,000. Gen Wealth Partners Inc bought a new stake in Royal Gold in the fourth quarter valued at $27,000. Finally, Scarborough Advisors LLC bought a new stake in Royal Gold in the first quarter valued at $32,000. Institutional investors and hedge funds own 83.65% of the company’s stock.

Royal Gold Company Profile

Royal Gold, Inc is a precious metals streaming and royalty company headquartered in Denver, Colorado. Rather than operating mines directly, the company provides financing to mining companies in exchange for the right to purchase a portion of the metals produced from certain projects at predetermined prices, or to receive revenue-based payments tied to mineral production.

Royal Gold’s portfolio is organized into two primary businesses: streams and royalties. Its streaming agreements generally provide rights to purchase gold, silver, copper or other metals from mining operations, while its royalty interests entitle the company to a percentage of revenue or production from a mine without bearing the operator’s ongoing costs.