Royal Gold, Inc. (NASDAQ:RGLD) Given Average Recommendation of “Moderate Buy” by Brokerages

by · The Markets Daily

Shares of Royal Gold, Inc. (NASDAQ:RGLDGet Free Report) (TSE:RGL) have been given an average rating of “Moderate Buy” by the twelve brokerages that are covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $280.70.

RGLD has been the subject of several analyst reports. Zacks Research cut Royal Gold from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 5th. National Bank Financial dropped their price objective on Royal Gold from $350.00 to $340.00 and set an “outperform” rating for the company in a report on Friday, April 17th. Weiss Ratings lowered shares of Royal Gold from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, June 11th. Finally, UBS Group set a $325.00 target price on shares of Royal Gold and gave the company a “buy” rating in a report on Wednesday, April 15th.

Check Out Our Latest Stock Analysis on Royal Gold

Insider Buying and Selling

In other Royal Gold news, SVP Randy Shefman sold 1,000 shares of the firm’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $243.74, for a total value of $243,740.00. Following the transaction, the senior vice president directly owned 9,082 shares of the company’s stock, valued at $2,213,646.68. This trade represents a 9.92% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.35% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Royal Gold

Institutional investors have recently modified their holdings of the business. Capital World Investors raised its holdings in shares of Royal Gold by 7.5% during the 4th quarter. Capital World Investors now owns 9,733,807 shares of the basic materials company’s stock worth $2,163,732,000 after buying an additional 678,732 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Royal Gold by 25.0% during the 4th quarter. Vanguard Group Inc. now owns 8,398,944 shares of the basic materials company’s stock worth $1,867,001,000 after buying an additional 1,681,577 shares in the last quarter. Van ECK Associates Corp raised its holdings in shares of Royal Gold by 18.1% during the 4th quarter. Van ECK Associates Corp now owns 5,900,432 shares of the basic materials company’s stock worth $1,311,607,000 after buying an additional 905,488 shares in the last quarter. State Street Corp raised its holdings in shares of Royal Gold by 11.9% during the 4th quarter. State Street Corp now owns 3,718,646 shares of the basic materials company’s stock worth $826,618,000 after buying an additional 396,778 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Royal Gold by 4.2% during the 4th quarter. Geode Capital Management LLC now owns 1,952,363 shares of the basic materials company’s stock worth $434,063,000 after buying an additional 78,344 shares in the last quarter. Institutional investors and hedge funds own 83.65% of the company’s stock.

Royal Gold Stock Performance

NASDAQ:RGLD opened at $214.82 on Friday. The stock has a market cap of $18.23 billion, a P/E ratio of 25.60, a PEG ratio of 1.62 and a beta of 0.41. The company has a current ratio of 3.52, a quick ratio of 3.26 and a debt-to-equity ratio of 0.08. The stock has a 50 day simple moving average of $233.76 and a 200 day simple moving average of $246.24. Royal Gold has a 1-year low of $150.75 and a 1-year high of $306.25.

Royal Gold Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 16th. Shareholders of record on Thursday, July 2nd will be issued a $0.475 dividend. This represents a $1.90 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Thursday, July 2nd. Royal Gold’s dividend payout ratio (DPR) is currently 22.65%.

About Royal Gold

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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.

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