Royal Gold (NASDAQ:RGLD) Share Price Breaks Above 200 Day Moving Average – Here’s Why

Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL)’s share price crossed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $241.64 and traded as high as $242.24. Royal Gold shares last traded at $241.95, with a volume of 822,193 shares.

Analyst Ratings Changes

Several equities research analysts have recently commented on RGLD shares. Royal Bank Of Canada boosted their target price on shares of Royal Gold from $305.00 to $325.00 and gave the company an “outperform” rating in a research note on Wednesday, September 16th. Raymond James Financial reiterated an “outperform” rating and set a $336.00 target price on shares of Royal Gold in a research report on Tuesday, October 20th. Zacks Research raised shares of Royal Gold from a “strong sell” rating to a “hold” rating in a report on Monday, September 7th. Jefferies Financial Group reduced their price target on shares of Royal Gold from $318.00 to $311.00 and set a “buy” rating on the stock in a research report on Monday, July 6th. Finally, Weiss Ratings raised shares of Royal Gold from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, October 9th. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $309.56.

Royal Gold Trading Down 3.4%

The company has a 50-day simple moving average of $246.08 and a 200-day simple moving average of $241.51. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.68 and a current ratio of 2.92. The stock has a market cap of $19.38 billion, a P/E ratio of 24.54, a P/E/G ratio of 1.72 and a beta of 0.45.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last announced its earnings results on Wednesday, August 5th. The basic materials company reported $2.56 EPS for the quarter, topping the consensus estimate of $2.55 by $0.01. Royal Gold had a return on equity of 12.06% and a net margin of 47.74%. The company had revenue of $468.98 million for the quarter, compared to analysts’ expectations of $458.85 million. During the same quarter in the prior year, the business earned $1.81 earnings per share. The business’s revenue for the quarter was up 114.9% on a year-over-year basis. On average, sell-side analysts forecast that Royal Gold, Inc. will post 10.66 EPS for the current fiscal year.

Royal Gold Dividend Announcement

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

Insiders Place Their Bets

In other Royal Gold news, SVP Randy Shefman sold 500 shares of the business’s stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $262.80, for a total value 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. The trade was a 5.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.35% of the company’s stock.

Institutional Trading of Royal Gold

Several hedge funds have recently modified their holdings of RGLD. Axiom Investment Management LLC bought a new position in Royal Gold in the 1st quarter valued at $25,000. Scarborough Advisors LLC bought a new stake in shares of Royal Gold during the first quarter worth $32,000. Eastern Bank raised its position in shares of Royal Gold by 622.2% during the third quarter. Eastern Bank now owns 130 shares of the basic materials company’s stock worth $31,000 after acquiring an additional 112 shares during the last quarter. Grove Bank & Trust raised its position in shares of Royal Gold by 88.6% during the second quarter. Grove Bank & Trust now owns 132 shares of the basic materials company’s stock worth $26,000 after acquiring an additional 62 shares during the last quarter. Finally, Lodestone Wealth Management LLC lifted its stake in shares of Royal Gold by 50.5% during the third quarter. Lodestone Wealth Management LLC now owns 149 shares of the basic materials company’s stock valued at $35,000 after acquiring an additional 50 shares during the period. 83.65% of the stock is owned by institutional investors.

About Royal Gold

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.