Royal Gold (NASDAQ:RGLD) Stock Gets Price Target Cut from TD

Royal Gold (NASDAQ:RGLD) (TSE:RGL) had its price target lowered by TD from $315.00 to $311.00 in a research note issued to investors on Tuesday morning,BayStreet reports. The firm currently has a buy rating on the basic materials company’s stock.

Other equities analysts have also recently issued research reports about the company. Royal Bank Of Canada upped their price target on Royal Gold from $305.00 to $325.00 and gave the company an “outperform” rating in a report on Wednesday, September 16th. Jefferies Financial Group decreased their price objective on Royal Gold from $318.00 to $311.00 and set a “buy” rating on the stock in a report on Monday, July 6th. Canadian Imperial Bank of Commerce set a $305.00 price objective on Royal Gold in a research report on Friday, October 16th. Scotiabank restated a “sector perform” rating and set a $310.00 price objective on shares of Royal Gold in a research report on Tuesday, July 14th. Finally, UBS Group upped their target price on Royal Gold from $280.00 to $285.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $309.56.

Royal Gold Stock Down 3.0%

Royal Gold stock opened at $234.72 on Tuesday. The company has a current ratio of 2.92, a quick ratio of 2.68 and a debt-to-equity ratio of 0.05. Royal Gold has a 1-year low of $168.88 and a 1-year high of $306.25. The firm’s fifty day simple moving average is $247.11 and its 200-day simple moving average is $230.61. The company has a market capitalization of $19.89 billion, a P/E ratio of 25.08, a P/E/G ratio of 1.78 and a beta of 0.45.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last posted its earnings results on Wednesday, August 5th. The basic materials company reported $2.56 earnings per share for the quarter, topping the consensus estimate of $2.55 by $0.01. The firm had revenue of $468.98 million during the quarter, compared to analyst estimates of $458.85 million. Royal Gold had a return on equity of 12.06% and a net margin of 47.74%. The company’s revenue for the quarter was up 114.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.81 EPS. Sell-side analysts forecast that Royal Gold will post 10.47 earnings per share for the current fiscal year.

Royal Gold Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 16th. Investors of record on Friday, October 2nd were issued a dividend of $0.4750 per share. This represents a $1.90 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Friday, October 2nd. Royal Gold’s dividend payout ratio (DPR) is currently 20.74%.

Insider Activity

In related news, SVP Randy Shefman sold 500 shares of the company’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 transaction, the senior vice president owned 8,082 shares in the company, valued at $2,123,949.60. This represents a 5.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.35% of the company’s stock.

Institutional Trading of Royal Gold

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in Royal Gold in the second quarter valued at about $2,177,865,000. Bank of New York Mellon Corp bought a new position in Royal Gold during the second quarter worth about $150,762,000. Findlay Park Partners LLP bought a new position in Royal Gold during the second quarter worth about $111,392,000. Bank of America Corp DE bought a new position in Royal Gold during the second quarter worth about $88,124,000. Finally, Deutsche Bank AG acquired a new position in shares of Royal Gold during the 2nd quarter worth about $69,325,000. 83.65% of the stock is currently owned by institutional investors and hedge funds.

Royal Gold Company Profile

Royal Gold, Inc is a precious metals streaming and royalty company headquartered in Denver, Colorado. The company provides financing to mining companies in exchange for the right to purchase a portion of the gold, silver, copper, or other metals produced from their mines, typically at predetermined prices. It also holds royalty interests that entitle it to a percentage of revenue or production from mining operations without directly operating the mines.

Royal Gold’s business is focused on acquiring and managing a diversified portfolio of streaming and royalty interests.