Royal Bank of Canada Issues Pessimistic Forecast for Royal Gold (NASDAQ:RGLD) Stock Price

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

Separately, Jefferies Financial Group raised Royal Gold from a “hold” rating to a “buy” rating and upped their target price for the stock from $154.00 to $178.00 in a research note on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Royal Gold has a consensus 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 52-week low of $118.00 and a 52-week high of $169.00. The company has a fifty day moving average of $151.05 and a 200-day moving average of $145.57. The company 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 issued its quarterly earnings results on Wednesday, February 12th. The basic materials company reported $1.63 earnings per share (EPS) for the quarter, topping 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%. As a group, analysts forecast that Royal Gold will post 6.2 EPS for the current fiscal year.

Royal Gold Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Friday, April 4th will be paid a $0.45 dividend. The ex-dividend date is Friday, April 4th. This represents a $1.80 dividend on an annualized basis and a yield of 1.16%. Royal Gold’s dividend payout ratio (DPR) is currently 35.71%.

Insider Buying and Selling at Royal Gold

In other Royal Gold news, SVP Randy Shefman sold 1,300 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $154.98, for a total value of $201,474.00. Following the transaction, the senior vice president now owns 9,360 shares in the company, valued at approximately $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 Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.52% of the company’s stock.

Institutional Trading of Royal Gold

Institutional investors have recently modified their holdings of the company. Exchange Traded Concepts LLC bought a new position in Royal Gold during the 4th quarter valued at approximately $25,000. Nomura Asset Management Co. Ltd. boosted its holdings in Royal Gold by 61.1% in the third 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 bought a new stake in Royal Gold in the fourth quarter valued at $42,000. Jones Financial Companies Lllp raised 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 in the last quarter. Finally, IFP Advisors Inc lifted its position in shares of Royal Gold by 66.7% in the 4th 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. 83.65% of the stock is currently owned by hedge funds and other institutional investors.

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.