Royal Gold (NASDAQ:RGLD) Price Target Lowered to $170.00 at Royal Bank of Canada

Royal Gold (NASDAQ:RGLD) (TSE:RGL) had its price objective lowered by Royal Bank of Canada from $175.00 to $170.00 in a research note issued to investors on Friday morning,Benzinga reports. The brokerage currently has an outperform rating on the basic materials company’s stock.

Separately, Jefferies Financial Group raised shares of Royal Gold from a “hold” rating to a “buy” rating and lifted their target price for the stock from $154.00 to $178.00 in a research report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Royal Gold has an average rating of “Moderate Buy” and a consensus price target of $170.75.

Royal Gold Stock Performance

NASDAQ RGLD 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 business’s fifty day moving average is $151.05 and its two-hundred day moving average is $145.49. The stock has a market capitalization of $10.23 billion, a P/E ratio of 30.87, a P/E/G ratio of 3.42 and a beta of 0.77.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last announced its earnings results on Wednesday, February 12th. The basic materials company reported $1.63 EPS for the quarter, beating the consensus estimate of $1.46 by $0.17. Royal Gold had a return on equity of 11.46% and a net margin of 46.15%. On average, research analysts forecast that Royal Gold will post 6.2 earnings per share for the current year.

Royal Gold Announces Dividend

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

Insider Activity at Royal Gold

In other Royal Gold news, SVP Randy Shefman sold 1,300 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $154.98, for a total value 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 $1,450,612.80. The trade was a 12.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.52% of the company’s stock.

Institutional Investors Weigh In On Royal Gold

Several institutional investors and hedge funds have recently modified their holdings of the business. Exchange Traded Concepts LLC bought a new position in Royal Gold during the fourth quarter valued at about $25,000. Nomura Asset Management Co. Ltd. raised its stake in shares of Royal Gold by 61.1% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 290 shares of the basic materials company’s stock valued at $41,000 after acquiring an additional 110 shares in the last quarter. Kohmann Bosshard Financial Services LLC acquired a new stake in Royal Gold in the 4th quarter worth approximately $42,000. Jones Financial Companies Lllp lifted its holdings in Royal Gold by 390.7% in the 4th quarter. Jones Financial Companies Lllp now owns 368 shares of the basic materials company’s stock worth $49,000 after purchasing an additional 293 shares during the last quarter. Finally, IFP Advisors Inc boosted its position in Royal Gold by 66.7% during the fourth quarter. IFP Advisors Inc now owns 395 shares of the basic materials company’s stock worth $52,000 after purchasing an additional 158 shares during the period. Institutional investors and hedge funds own 83.65% of the company’s stock.

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.