TD Forecasts Strong Price Appreciation for Royal Gold (NASDAQ:RGLD) Stock

by · The Markets Daily

Royal Gold (NASDAQ:RGLD – Get Free Report) (TSE:RGL) had its price objective upped by equities researchers at TD from $289.00 to $315.00 in a report issued on Friday, BayStreet reports. The firm presently has a “buy” rating on the basic materials company’s stock. TD’s price objective suggests a potential upside of 25.56% from the company’s current price.

A number of other equities research analysts have also recently issued reports on the stock. Royal Bank Of Canada upped their price target on shares of Royal Gold from $305.00 to $325.00 and gave the company an “outperform” rating in a report on Wednesday. Jefferies Financial Group decreased their target price on Royal Gold from $318.00 to $311.00 and set a “buy” rating for the company in a research note on Monday, July 6th. UBS Group raised their target price on Royal Gold from $280.00 to $285.00 and gave the company a “buy” rating in a report on Friday, August 7th. Zacks Research upgraded Royal Gold from a “strong sell” rating to a “hold” rating in a report on Monday, September 7th. Finally, Weiss Ratings cut Royal Gold from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, August 4th. Eight research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Royal Gold has an average rating of “Moderate Buy” and a consensus target price of $289.64.

Read Our Latest Report on RGLD

Royal Gold Stock Performance

RGLD stock traded down $0.57 during midday trading on Friday, hitting $250.88. 265,324 shares of the company traded hands, compared to its average volume of 861,058. Royal Gold has a twelve month low of $168.88 and a twelve month high of $306.25. The stock has a market capitalization of $21.26 billion, a price-to-earnings ratio of 27.39, a price-to-earnings-growth ratio of 1.85 and a beta of 0.50. The company has a quick ratio of 2.68, a current ratio of 2.92 and a debt-to-equity ratio of 0.05. The business has a 50 day simple moving average of $230.17 and a 200-day simple moving average of $233.67.

Royal Gold (NASDAQ:RGLD – Get Free Report) (TSE:RGL) last posted its quarterly earnings data on Wednesday, August 5th. The basic materials company reported $2.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.55 by $0.01. The business had revenue of $468.98 million during the quarter, compared to the consensus estimate of $458.85 million. Royal Gold had a net margin of 47.74% and a return on equity of 12.06%. Royal Gold’s quarterly revenue was up 114.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.81 EPS. As a group, equities research analysts predict that Royal Gold will post 10.26 earnings per share for the current year.

Insider Buying and Selling

In other Royal Gold news, SVP Randy Shefman sold 500 shares of Royal Gold stock in a transaction on Friday, August 28th. The shares were sold at an average price of $262.80, for a total transaction of $131,400.00. Following the sale, the senior vice president owned 8,082 shares in the company, valued at $2,123,949.60. The trade was a 5.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.35% of the stock is currently owned by company insiders.

Institutional Trading of Royal Gold

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RGLD. Axiom Investment Management LLC acquired a new position in Royal Gold during the first quarter worth $25,000. Grove Bank & Trust lifted its stake in Royal Gold by 88.6% in the second quarter. Grove Bank & Trust now owns 132 shares of the basic materials company’s stock valued at $26,000 after acquiring an additional 62 shares during the last quarter. Elyxium Wealth LLC bought a new position in shares of Royal Gold in the 4th quarter valued at about $27,000. Scarborough Advisors LLC bought a new position in shares of Royal Gold in the 1st quarter valued at about $32,000. Finally, Core Capital Management & Research inc. acquired a new position in shares of Royal Gold during the 2nd quarter worth about $32,000. Institutional investors own 83.65% of the company’s stock.

Royal Gold Company Profile

(Get Free Report)

Royal Gold, Inc is a precious metals streaming and royalty company headquartered in Denver, Colorado. Rather than operating mines directly, the company provides financing to mining companies in exchange for the right to purchase a portion of the metals produced from certain projects at predetermined prices, or to receive revenue-based payments tied to mineral production.

Royal Gold’s portfolio is organized into two primary businesses: streams and royalties. Its streaming agreements generally provide rights to purchase gold, silver, copper or other metals from mining operations, while its royalty interests entitle the company to a percentage of revenue or production from a mine without bearing the operator’s ongoing costs.

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