Royal Gold (NASDAQ:RGLD) Hits New 1-Year High at $145.59

Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL)’s share price hit a new 52-week high during trading on Friday . The company traded as high as $145.59 and last traded at $143.60, with a volume of 68287 shares. The stock had previously closed at $140.82.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Scotiabank raised their target price on Royal Gold from $148.00 to $157.00 and gave the stock a “sector perform” rating in a report on Monday, August 19th. Jefferies Financial Group raised their target price on Royal Gold from $130.00 to $141.00 and gave the stock a “hold” rating in a report on Friday, July 12th. Cibc World Mkts raised Royal Gold to a “hold” rating in a report on Wednesday, July 10th. BMO Capital Markets raised their target price on Royal Gold from $168.00 to $170.00 and gave the stock an “outperform” rating in a report on Wednesday, July 10th. Finally, Bank of America raised their price target on Royal Gold from $129.00 to $131.00 and gave the company an “underperform” rating in a report on Wednesday, June 26th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Royal Gold has a consensus rating of “Hold” and a consensus price target of $157.00.

Royal Gold Price Performance

The company has a 50-day moving average price of $136.34 and a 200 day moving average price of $126.67. The firm has a market capitalization of $9.41 billion, a PE ratio of 42.24, a P/E/G ratio of 1.10 and a beta of 0.90.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last issued its earnings results on Wednesday, August 7th. The basic materials company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.07. Royal Gold had a return on equity of 8.74% and a net margin of 39.15%. The firm had revenue of $174.10 million for the quarter, compared to analysts’ expectations of $172.12 million. During the same period in the previous year, the firm posted $0.88 earnings per share. The business’s revenue was up 20.9% compared to the same quarter last year. As a group, research analysts anticipate that Royal Gold, Inc. will post 4.7 earnings per share for the current year.

Royal Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Friday, October 4th will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, October 4th. This represents a $1.60 annualized dividend and a yield of 1.12%. Royal Gold’s payout ratio is currently 47.20%.

Insiders Place Their Bets

In other Royal Gold news, Director Ronald J. Vance sold 415 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $140.85, for a total transaction of $58,452.75. Following the sale, the director now directly owns 8,194 shares of the company’s stock, valued at $1,154,124.90. 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 company’s stock in a transaction that occurred on 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 owns 18,657 shares of the company’s stock, valued at $2,659,182.21. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ronald J. Vance sold 415 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $140.85, for a total value of $58,452.75. Following the transaction, the director now directly owns 8,194 shares in the company, valued at approximately $1,154,124.90. The disclosure for this sale can be found here. Insiders have sold 8,355 shares of company stock valued at $1,170,315 over the last ninety days. 0.52% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. DekaBank Deutsche Girozentrale grew its stake in shares of Royal Gold by 1,800.2% during the first quarter. DekaBank Deutsche Girozentrale now owns 19,363 shares of the basic materials company’s stock valued at $2,306,000 after buying an additional 18,344 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Royal Gold by 151.2% in the first quarter. BNP Paribas Financial Markets now owns 24,941 shares of the basic materials company’s stock valued at $3,037,000 after purchasing an additional 15,012 shares during the period. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Royal Gold in the fourth quarter valued at approximately $1,239,000. CANADA LIFE ASSURANCE Co boosted its holdings in shares of Royal Gold by 36.1% in the first quarter. CANADA LIFE ASSURANCE Co now owns 55,368 shares of the basic materials company’s stock valued at $6,746,000 after purchasing an additional 14,675 shares during the period. Finally, Norden Group LLC purchased a new stake in shares of Royal Gold in the first quarter valued at approximately $3,315,000. Institutional investors own 83.65% of the company’s stock.

About Royal Gold

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.