Royal Gold (NASDAQ:RGLD) Hits New 12-Month High – What’s Next?

Shares of Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $147.90 and last traded at $147.79, with a volume of 118343 shares. The stock had previously closed at $145.79.

Wall Street Analyst Weigh In

RGLD has been the topic of a number of research reports. StockNews.com raised shares of Royal Gold from a “hold” rating to a “buy” rating in a report on Thursday, September 19th. Bank of America upped their price target on Royal Gold from $129.00 to $131.00 and gave the company an “underperform” rating in a research report on Wednesday, June 26th. Scotiabank lifted their price objective on Royal Gold from $148.00 to $157.00 and gave the stock a “sector perform” rating in a report on Monday, August 19th. Raymond James upped their price objective on shares of Royal Gold from $167.00 to $170.00 and gave the company an “outperformer” rating in a report on Friday, August 9th. Finally, Jefferies Financial Group increased their target price on shares of Royal Gold from $141.00 to $154.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, Royal Gold presently has an average rating of “Hold” and a consensus price target of $158.86.

Royal Gold Stock Up 2.8 %

The company has a market cap of $10.03 billion, a PE ratio of 43.79, a P/E/G ratio of 1.19 and a beta of 0.90. The stock has a 50-day moving average of $139.69 and a 200-day moving average of $131.83.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last issued its quarterly earnings results on Wednesday, August 7th. The basic materials company reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.18 by $0.07. The firm had revenue of $174.10 million during the quarter, compared to the consensus estimate of $172.12 million. Royal Gold had a return on equity of 8.74% and a net margin of 39.15%. The company’s revenue for the quarter was up 20.9% on a year-over-year basis. During the same quarter last year, the company posted $0.88 EPS. Research analysts expect that Royal Gold, Inc. will post 4.89 EPS for the current year.

Royal Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Friday, October 4th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date of this dividend is Friday, October 4th. Royal Gold’s payout ratio is currently 47.20%.

Insider Activity

In other Royal Gold news, CFO Paul Libner sold 1,500 shares of the stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $142.53, for a total transaction of $213,795.00. Following the transaction, the chief financial officer now directly owns 18,657 shares in the company, valued at $2,659,182.21. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Paul Libner sold 1,500 shares of the firm’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $142.53, for a total transaction of $213,795.00. Following the transaction, the chief financial officer now directly owns 18,657 shares of the company’s stock, valued at approximately $2,659,182.21. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ronald J. Vance sold 1,000 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $132.16, for a total value of $132,160.00. Following the transaction, the director now directly owns 9,109 shares in the company, valued at $1,203,845.44. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,355 shares of company stock worth $1,170,315. 0.52% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Fidelis Capital Partners LLC bought a new position in shares of Royal Gold during the first quarter valued at about $36,000. Compagnie Lombard Odier SCmA bought a new stake in shares of Royal Gold in the third quarter worth about $49,000. Janiczek Wealth Management LLC grew its stake in shares of Royal Gold by 321.8% in the first quarter. Janiczek Wealth Management LLC now owns 426 shares of the basic materials company’s stock worth $52,000 after purchasing an additional 325 shares during the last quarter. Blue Trust Inc. grew its stake in shares of Royal Gold by 108.7% in the third quarter. Blue Trust Inc. now owns 409 shares of the basic materials company’s stock worth $57,000 after purchasing an additional 213 shares during the last quarter. Finally, Mather Group LLC. bought a new stake in shares of Royal Gold in the second quarter worth about $62,000. 83.65% of the stock is owned by 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.