BMO Capital Markets Trims Royal Gold (NASDAQ:RGLD) Target Price to $162.00

Royal Gold (NASDAQ:RGLD) (TSE:RGL) had its price objective decreased by BMO Capital Markets from $163.00 to $162.00 in a research note released on Thursday morning, Benzinga reports. BMO Capital Markets currently has an outperform rating on the basic materials company’s stock.

Several other research firms also recently weighed in on RGLD. National Bank Financial raised Royal Gold from a sector perform rating to an outperform rating in a research note on Thursday, February 15th. Jefferies Financial Group initiated coverage on Royal Gold in a research note on Thursday, February 29th. They issued a hold rating and a $117.00 price objective for the company. Finally, Cantor Fitzgerald downgraded Royal Gold from an overweight rating to a neutral rating in a research note on Thursday, February 15th. One analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Hold and a consensus price target of $143.75.

Royal Gold Price Performance

Shares of RGLD traded up $0.74 during mid-day 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 current ratio of 2.31, a quick ratio of 2.18 and a debt-to-equity ratio of 0.08. The firm has a 50-day simple moving average of $116.55 and a 200 day simple moving average of $115.39. The firm has a market capitalization of $8.04 billion, a P/E ratio of 33.60, a P/E/G ratio of 6.95 and a beta of 0.88. Royal Gold has a 1-year low of $100.55 and a 1-year high of $147.82.

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

Royal Gold Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 19th. Shareholders of record on Friday, April 5th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.31%. The ex-dividend date of this dividend was Thursday, April 4th. Royal Gold’s payout ratio is 43.96%.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Royal Gold

Hedge funds have recently made changes to their positions in the business. Rakuten Securities Inc. acquired a new stake in shares of Royal Gold during the fourth quarter worth $27,000. Larson Financial Group LLC boosted its holdings in Royal Gold by 526.3% in the fourth quarter. Larson Financial Group LLC now owns 238 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 200 shares during the last quarter. Turtle Creek Wealth Advisors LLC acquired a new position in Royal Gold in the fourth quarter valued at $31,000. Fidelis Capital Partners LLC acquired a new position in Royal Gold in the first quarter valued at $36,000. Finally, BKM Wealth Management LLC acquired a new position in Royal Gold in the fourth quarter valued at $36,000. 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.