Royal Gold (NASDAQ:RGLD) Price Target Raised to $200.00 at Raymond James

Royal Gold (NASDAQ:RGLD) (TSE:RGL) had its target price lifted by Raymond James from $181.00 to $200.00 in a research note published on Friday morning,Benzinga reports. Raymond James currently has an outperform rating on the basic materials company’s stock.

RGLD has been the topic of several other research reports. Royal Bank of Canada cut their price objective on Royal Gold from $175.00 to $170.00 and set an “outperform” rating on the stock in a report on Friday. Jefferies Financial Group raised Royal Gold from a “hold” rating to a “buy” rating and lifted their target price for the company from $154.00 to $178.00 in a research report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $170.75.

Royal Gold Price Performance

Shares of RGLD stock opened at $155.60 on Friday. Royal Gold has a 1-year low of $118.00 and a 1-year high of $169.00. The firm has a market cap of $10.23 billion, a PE ratio of 30.87, a price-to-earnings-growth ratio of 3.42 and a beta of 0.77. The company has a 50-day moving average of $151.05 and a two-hundred day moving average of $145.49.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last posted its quarterly earnings data on Wednesday, February 12th. The basic materials company reported $1.63 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.17. Royal Gold had a net margin of 46.15% and a return on equity of 11.46%. Sell-side analysts anticipate that Royal Gold will post 6.2 EPS for the current fiscal year.

Royal Gold Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Friday, April 4th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $1.80 dividend on an annualized basis and a yield of 1.16%. Royal Gold’s dividend payout ratio is currently 35.71%.

Insider Buying and Selling at Royal Gold

In other news, SVP Randy Shefman sold 1,300 shares of Royal Gold stock in a transaction on Monday, March 17th. The shares were sold at an average price of $154.98, for a total transaction of $201,474.00. Following the completion of the sale, the senior vice president now directly owns 9,360 shares of the company’s stock, valued at approximately $1,450,612.80. The trade was a 12.20 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.52% of the company’s stock.

Institutional Trading of Royal Gold

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Royal Gold in the 4th quarter valued at about $741,000. Arizona State Retirement System increased its stake in Royal Gold by 0.8% in the fourth quarter. Arizona State Retirement System now owns 19,076 shares of the basic materials company’s stock valued at $2,515,000 after purchasing an additional 149 shares during the last quarter. Verition Fund Management LLC raised its holdings in Royal Gold by 213.1% during the third quarter. Verition Fund Management LLC now owns 8,051 shares of the basic materials company’s stock worth $1,130,000 after purchasing an additional 5,480 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Royal Gold by 1.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 484,207 shares of the basic materials company’s stock worth $63,843,000 after buying an additional 5,067 shares during the last quarter. Finally, Merit Financial Group LLC purchased a new stake in shares of Royal Gold during the 4th quarter worth approximately $455,000. 83.65% of the stock is currently owned by institutional investors and hedge funds.

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.