Royal Gold (NASDAQ:RGLD) Given New $162.00 Price Target at BMO Capital Markets

Royal Gold (NASDAQ:RGLD) (TSE:RGL) had its price target cut by equities research analysts at BMO Capital Markets from $163.00 to $162.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the basic materials company’s stock. BMO Capital Markets’ target price suggests a potential upside of 32.47% from the company’s current price.

RGLD has been the topic of a number of other research reports. National Bank Financial raised shares of Royal Gold from a “sector perform” rating to an “outperform” rating in a research report on Thursday, February 15th. Jefferies Financial Group began coverage on shares of Royal Gold in a research report on Thursday, February 29th. They set a “hold” rating and a $117.00 price target on the stock. Finally, Cantor Fitzgerald cut shares of Royal Gold from an “overweight” rating to a “neutral” rating in a research report on Thursday, February 15th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Royal Gold presently has an average rating of “Hold” and an average price target of $143.75.

Royal Gold Trading Up 0.6 %

Shares of Royal Gold stock traded up $0.74 during trading on Thursday, hitting $122.29. The company’s stock had a trading volume of 276,105 shares, compared to its average volume of 504,369. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.31 and a quick ratio of 2.18. Royal Gold has a 52 week low of $100.55 and a 52 week high of $147.82. The stock has a market cap of $8.04 billion, a price-to-earnings ratio of 33.60, a price-to-earnings-growth ratio of 6.95 and a beta of 0.88. The stock has a 50-day moving average price of $116.55 and a two-hundred day moving average price of $115.39.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last issued its quarterly earnings results on Wednesday, February 14th. The basic materials company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.20. The business had revenue of $152.70 million for the quarter, compared to analysts’ expectations of $140.32 million. Royal Gold had a net margin of 39.53% and a return on equity of 8.18%. The business’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.91 earnings per share. Equities research analysts anticipate that Royal Gold will post 4.36 EPS for the current fiscal year.

Insider Activity

In other news, SVP Randy Shefman sold 500 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $113.00, for a total transaction of $56,500.00. Following the transaction, the senior vice president now owns 12,127 shares in the company, valued at $1,370,351. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.52% of the company’s stock.

Institutional Investors Weigh In On Royal Gold

Institutional investors and hedge funds have recently made changes to their positions in the business. Rakuten Securities Inc. acquired a new stake in shares of Royal Gold in the 4th quarter worth about $27,000. Larson Financial Group LLC raised its holdings in shares of Royal Gold by 526.3% in the 4th quarter. Larson Financial Group LLC now owns 238 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 200 shares during the last quarter. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Royal Gold in the 4th quarter worth about $31,000. Fidelis Capital Partners LLC acquired a new stake in shares of Royal Gold in the 1st quarter worth about $36,000. Finally, BKM Wealth Management LLC acquired a new stake in shares of Royal Gold in the 4th quarter worth about $36,000. Institutional investors and hedge funds 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.