Scotiabank Boosts Royal Gold (NASDAQ:RGLD) Price Target to $148.00

Royal Gold (NASDAQ:RGLD) (TSE:RGL) had its price target hoisted by Scotiabank from $144.00 to $148.00 in a research note published on Thursday, Benzinga reports. Scotiabank currently has a sector perform rating on the basic materials company’s stock.

A number of other equities research analysts also recently issued reports on the company. National Bank Financial upgraded Royal Gold from a sector perform rating to an outperform rating in a research note on Thursday, February 15th. Jefferies Financial Group began coverage on Royal Gold in a research note on Thursday, February 29th. They set a hold rating and a $117.00 price target for the company. Cantor Fitzgerald downgraded Royal Gold from an overweight rating to a neutral rating in a research note on Thursday, February 15th. Finally, BMO Capital Markets boosted their price target on Royal Gold from $160.00 to $161.00 and gave the company an outperform rating in a research note on Tuesday, May 21st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus target price of $142.13.

Royal Gold Price Performance

NASDAQ RGLD opened at $128.51 on Thursday. Royal Gold has a one year low of $100.55 and a one year high of $134.56. The stock has a 50-day moving average of $122.37 and a 200 day moving average of $117.59. The company has a market capitalization of $8.45 billion, a price-to-earnings ratio of 37.91, a PEG ratio of 1.08 and a beta of 0.88. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.35 and a current ratio of 2.50.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last released its quarterly earnings data on Wednesday, May 8th. The basic materials company reported $0.91 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.04). The business had revenue of $148.90 million during the quarter, compared to the consensus estimate of $147.02 million. Royal Gold had a return on equity of 7.96% and a net margin of 38.12%. Royal Gold’s quarterly revenue was down 12.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.96 earnings per share. On average, sell-side analysts forecast that Royal Gold will post 4.51 EPS for the current year.

Royal Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 19th. Stockholders of record on Friday, July 5th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, July 5th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.25%. Royal Gold’s payout ratio is currently 47.20%.

Insider Buying and Selling

In related news, SVP Daniel Breeze sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $130.73, for a total value of $196,095.00. Following the transaction, the senior vice president now directly owns 14,840 shares of the company’s stock, valued at approximately $1,940,033.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, SVP Daniel Breeze sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $130.73, for a total value of $196,095.00. Following the transaction, the senior vice president now directly owns 14,840 shares of the company’s stock, valued at approximately $1,940,033.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Randy Shefman sold 500 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $113.00, for a total value of $56,500.00. Following the completion of the transaction, the senior vice president now directly owns 12,127 shares in the company, valued at $1,370,351. The disclosure for this sale can be found here. 0.52% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Rakuten Securities Inc. bought a new stake in Royal Gold in the 4th quarter worth approximately $27,000. Larson Financial Group LLC increased its stake in Royal Gold by 526.3% in the 4th quarter. Larson Financial Group LLC now owns 238 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 200 shares during the last quarter. Turtle Creek Wealth Advisors LLC bought a new stake in Royal Gold in the 4th quarter worth approximately $31,000. Fidelis Capital Partners LLC bought a new stake in Royal Gold in the 1st quarter worth approximately $36,000. Finally, BKM Wealth Management LLC bought a new stake in Royal Gold in the 4th quarter worth approximately $36,000. 83.65% of the stock is owned by hedge funds and other institutional investors.

Royal Gold Company Profile

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.