Royal Gold (NASDAQ:RGLD) Hits New 52-Week High – What’s Next?

Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL)’s stock price reached a new 52-week high on Tuesday . The stock traded as high as $236.36 and last traded at $235.78, with a volume of 53435 shares traded. The stock had previously closed at $229.31.

Wall Street Analysts Forecast Growth

RGLD has been the topic of a number of research analyst reports. Wall Street Zen cut shares of Royal Gold from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Scotiabank reissued an “outperform” rating on shares of Royal Gold in a research report on Thursday, October 23rd. CIBC raised their target price on shares of Royal Gold from $225.00 to $250.00 and gave the stock a “neutral” rating in a research report on Friday, October 10th. Jefferies Financial Group reaffirmed a “buy” rating and set a $270.00 price target on shares of Royal Gold in a research note on Sunday, December 7th. Finally, Zacks Research lowered Royal Gold from a “strong-buy” rating to a “hold” rating in a report on Friday, December 19th. Eight equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $234.60.

Royal Gold Trading Down 0.7%

The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.68 and a current ratio of 2.89. The company has a market capitalization of $20.49 billion, a P/E ratio of 33.34, a PEG ratio of 0.75 and a beta of 0.49. The company’s fifty day simple moving average is $204.60 and its 200-day simple moving average is $187.33.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last posted its quarterly earnings results on Wednesday, November 5th. The basic materials company reported $2.06 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.24). Royal Gold had a net margin of 55.99% and a return on equity of 14.14%. The business had revenue of $250.23 million during the quarter, compared to the consensus estimate of $275.11 million. During the same quarter in the prior year, the firm posted $1.47 EPS. The company’s revenue for the quarter was up 30.1% compared to the same quarter last year. Research analysts predict that Royal Gold, Inc. will post 6.2 earnings per share for the current year.

Royal Gold Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 16th. Shareholders of record on Friday, January 2nd will be issued a dividend of $0.475 per share. This is an increase from Royal Gold’s previous quarterly dividend of $0.45. This represents a $1.90 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Friday, January 2nd. Royal Gold’s dividend payout ratio (DPR) is currently 26.10%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in RGLD. Encompass More Asset Management lifted its stake in shares of Royal Gold by 4.2% during the 3rd quarter. Encompass More Asset Management now owns 1,283 shares of the basic materials company’s stock worth $257,000 after purchasing an additional 52 shares during the last quarter. Sowell Financial Services LLC raised its holdings in Royal Gold by 4.0% in the third quarter. Sowell Financial Services LLC now owns 1,368 shares of the basic materials company’s stock worth $274,000 after purchasing an additional 52 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in shares of Royal Gold by 33.9% during the third quarter. MassMutual Private Wealth & Trust FSB now owns 221 shares of the basic materials company’s stock valued at $44,000 after buying an additional 56 shares during the last quarter. Compound Planning Inc. boosted its holdings in shares of Royal Gold by 4.4% in the 3rd quarter. Compound Planning Inc. now owns 1,315 shares of the basic materials company’s stock valued at $264,000 after buying an additional 56 shares in the last quarter. Finally, Avidian Wealth Enterprises LLC boosted its holdings in shares of Royal Gold by 2.3% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 2,635 shares of the basic materials company’s stock valued at $529,000 after buying an additional 59 shares in the last quarter. 83.65% of the stock is currently owned by hedge funds and other institutional investors.

Royal Gold Company Profile

Royal Gold, Inc, headquartered in Denver, Colorado, is a leading precious metals streaming and royalty company. Through its business model, Royal Gold provides upfront financing to mining operators in exchange for the right to purchase a percentage of future metal production at predetermined prices. This structure allows the company to participate in production upside while minimizing exposure to the operating and capital-intensive aspects of mine ownership.

The company’s portfolio encompasses interests in over 200 streams and royalties on projects across North America, South America, Europe, Africa and Australia.