Royal Gold (NASDAQ:RGLD) Given New $132.90 Price Target at B. Riley
Royal Gold (NASDAQ:RGLD) (TSE:RGL) had its price target increased by B. Riley from $132.50 to $132.90 in a report published on Monday, BenzingaRatingsTable reports. The firm currently has a buy rating on the basic materials company’s stock.
Other analysts also recently issued reports about the company. Royal Bank of Canada restated a hold rating on shares of Royal Gold in a report on Sunday, August 11th. TheStreet upgraded Royal Gold from a c+ rating to a b- rating in a report on Friday, June 7th. Zacks Investment Research upgraded Royal Gold from a hold rating to a buy rating and set a $101.00 price objective for the company in a report on Monday, June 3rd. ValuEngine upgraded Royal Gold from a hold rating to a buy rating in a report on Monday, June 3rd. Finally, National Bank Financial increased their price objective on Royal Gold from $112.50 to $117.50 and gave the company a sector perform rating in a report on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $111.93.
Shares of RGLD traded up $0.64 during trading hours on Monday, reaching $124.88. The stock had a trading volume of 28,929 shares, compared to its average volume of 474,005. Royal Gold has a 12 month low of $70.16 and a 12 month high of $138.78. The stock has a market capitalization of $8.15 billion, a PE ratio of 86.20, a PEG ratio of 4.84 and a beta of 0.16. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.26 and a current ratio of 4.60. The company’s 50-day moving average is $126.15 and its two-hundred day moving average is $101.45.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Friday, October 4th will be issued a dividend of $0.265 per share. The ex-dividend date of this dividend is Thursday, October 3rd. This represents a $1.06 dividend on an annualized basis and a yield of 0.85%. Royal Gold’s payout ratio is currently 73.10%.
In other Royal Gold news, VP Mark Isto sold 2,173 shares of the stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $125.02, for a total transaction of $271,668.46. Following the completion of the sale, the vice president now directly owns 21,480 shares in the company, valued at approximately $2,685,429.60. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Bruce Christopher Kirchhoff sold 1,417 shares of the stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $127.16, for a total value of $180,185.72. Following the sale, the vice president now owns 48,826 shares of the company’s stock, valued at $6,208,714.16. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 89,533 shares of company stock valued at $11,290,614. Company insiders own 0.95% of the company’s stock.
Institutional investors have recently modified their holdings of the business. Allianz Asset Management GmbH grew its stake in shares of Royal Gold by 2.5% in the 2nd quarter. Allianz Asset Management GmbH now owns 3,302 shares of the basic materials company’s stock valued at $338,000 after buying an additional 80 shares during the period. Profund Advisors LLC grew its stake in shares of Royal Gold by 0.6% in the 2nd quarter. Profund Advisors LLC now owns 16,438 shares of the basic materials company’s stock valued at $1,685,000 after buying an additional 103 shares during the period. Envestnet Asset Management Inc. grew its stake in shares of Royal Gold by 0.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 15,759 shares of the basic materials company’s stock valued at $1,615,000 after buying an additional 111 shares during the period. 6 Meridian grew its stake in shares of Royal Gold by 2.0% in the 2nd quarter. 6 Meridian now owns 5,850 shares of the basic materials company’s stock valued at $600,000 after buying an additional 112 shares during the period. Finally, Confluence Investment Management LLC grew its stake in shares of Royal Gold by 4.9% in the 2nd quarter. Confluence Investment Management LLC now owns 3,011 shares of the basic materials company’s stock valued at $309,000 after buying an additional 142 shares during the period. Hedge funds and other institutional investors own 78.86% 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. It focuses on acquiring stream and royalty interests or to finance projects that are in production or in development stage in exchange for stream or royalty interests, which primarily consists of gold, silver, copper, nickel, zinc, lead, cobalt, and molybdenum.
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