Royal Gold (NASDAQ:RGLD) Given New $285.00 Price Target at UBS Group

Royal Gold (NASDAQ:RGLD) (TSE:RGL) had its target price hoisted by UBS Group from $280.00 to $285.00 in a report published on Friday morning,Benzinga reports. The firm currently has a buy rating on the basic materials company’s stock.

RGLD has been the topic of several other reports. Weiss Ratings downgraded Royal Gold from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday. Royal Bank Of Canada dropped their price target on Royal Gold from $310.00 to $305.00 and set an “outperform” rating on the stock in a research report on Thursday, July 9th. Jefferies Financial Group decreased their price objective on Royal Gold from $318.00 to $311.00 and set a “buy” rating for the company in a report on Monday, July 6th. Scotiabank reaffirmed a “sector perform” rating and issued a $310.00 price objective on shares of Royal Gold in a research note on Tuesday, July 14th. Finally, National Bank Financial dropped their target price on shares of Royal Gold from $350.00 to $340.00 and set an “outperform” rating on the stock in a report on Friday, April 17th. Seven investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $285.10.

Royal Gold Price Performance

Royal Gold stock opened at $229.92 on Friday. The stock has a market cap of $19.51 billion, a price-to-earnings ratio of 25.10, a price-to-earnings-growth ratio of 1.59 and a beta of 0.44. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.92 and a quick ratio of 3.26. Royal Gold has a 1 year low of $164.13 and a 1 year high of $306.25. The firm has a 50-day moving average of $204.50 and a two-hundred day moving average of $239.82.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last issued its earnings results on Wednesday, August 5th. The basic materials company reported $2.56 EPS for the quarter, topping analysts’ consensus estimates of $2.55 by $0.01. Royal Gold had a net margin of 47.74% and a return on equity of 12.06%. The business had revenue of $468.98 million for the quarter, compared to analyst estimates of $458.85 million. During the same period last year, the company posted $1.81 earnings per share. The company’s quarterly revenue was up 114.9% compared to the same quarter last year. On average, research analysts forecast that Royal Gold will post 10.38 earnings per share for the current year.

Royal Gold Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 16th. Shareholders of record on Thursday, July 2nd were given a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Thursday, July 2nd. Royal Gold’s dividend payout ratio (DPR) is 22.65%.

Insider Activity

In other news, SVP Randy Shefman sold 1,000 shares of the business’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $243.74, for a total value of $243,740.00. Following the completion of the transaction, the senior vice president directly owned 9,082 shares of the company’s stock, valued at approximately $2,213,646.68. The trade was a 9.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.35% of the company’s stock.

Hedge Funds Weigh In On Royal Gold

Several institutional investors and hedge funds have recently added to or reduced their stakes in RGLD. Axiom Investment Management LLC bought a new stake in shares of Royal Gold in the 1st quarter valued at about $25,000. Elyxium Wealth LLC bought a new position in shares of Royal Gold during the 4th quarter worth approximately $27,000. Gen Wealth Partners Inc purchased a new stake in Royal Gold during the fourth quarter valued at approximately $27,000. Scarborough Advisors LLC acquired a new stake in Royal Gold in the first quarter valued at approximately $32,000. Finally, Grove Bank & Trust boosted its stake in Royal Gold by 88.6% in the second quarter. Grove Bank & Trust now owns 132 shares of the basic materials company’s stock valued at $26,000 after acquiring an additional 62 shares in the last quarter. Hedge funds and other institutional investors own 83.65% of the company’s stock.

Royal Gold Company Profile

Royal Gold, Inc, headquartered in Denver, Colorado, is a leading precious metals streaming and royalty company. Through its business model, Royal Gold provides upfront financing to mining operators in exchange for the right to purchase a percentage of future metal production at predetermined prices. This structure allows the company to participate in production upside while minimizing exposure to the operating and capital-intensive aspects of mine ownership.

The company’s portfolio encompasses interests in over 200 streams and royalties on projects across North America, South America, Europe, Africa and Australia.