Royal Gold (NASDAQ:RGLD) Price Target Raised to $157.00

Royal Gold (NASDAQ:RGLD) (TSE:RGL) had its price objective boosted by Scotiabank from $148.00 to $157.00 in a research report released on Monday morning, Benzinga reports. They currently have a sector perform rating on the basic materials company’s stock.

Other equities analysts have also issued reports about the stock. Jefferies Financial Group lifted their target price on shares of Royal Gold from $130.00 to $141.00 and gave the company a hold rating in a report on Friday, July 12th. StockNews.com upgraded shares of Royal Gold from a hold rating to a buy rating in a report on Friday, August 9th. Bank of America lifted their target price on shares of Royal Gold from $129.00 to $131.00 and gave the company an underperform rating in a report on Wednesday, June 26th. CIBC boosted their price objective on shares of Royal Gold from $166.00 to $175.00 and gave the stock a neutral rating in a report on Wednesday, July 10th. Finally, BMO Capital Markets boosted their price objective on shares of Royal Gold from $168.00 to $170.00 and gave the stock an outperform rating in a report on Wednesday, July 10th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $157.00.

Royal Gold Stock Performance

Royal Gold stock opened at $140.97 on Monday. The stock’s 50 day simple moving average is $131.58 and its two-hundred day simple moving average is $123.24. The stock has a market cap of $9.27 billion, a price-to-earnings ratio of 41.58, a PEG ratio of 1.10 and a beta of 0.87. Royal Gold has a fifty-two week low of $100.55 and a fifty-two week high of $141.25.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last released its earnings results on Wednesday, August 7th. The basic materials company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.07. Royal Gold had a net margin of 39.15% and a return on equity of 8.74%. The firm had revenue of $174.10 million during the quarter, compared to analyst estimates of $172.12 million. During the same period last year, the business earned $0.88 earnings per share. The business’s revenue was up 20.9% on a year-over-year basis. On average, analysts predict that Royal Gold will post 4.7 earnings per share for the current year.

Insiders Place Their Bets

In other Royal Gold news, Director Ronald J. Vance sold 1,000 shares of Royal Gold stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $132.16, for a total value of $132,160.00. Following the completion of the sale, the director now owns 9,109 shares of the company’s stock, valued at approximately $1,203,845.44. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.52% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Royal Gold

Large investors have recently added to or reduced their stakes in the stock. DekaBank Deutsche Girozentrale grew its position in Royal Gold by 1,800.2% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 19,363 shares of the basic materials company’s stock worth $2,306,000 after purchasing an additional 18,344 shares during the period. Victory Capital Management Inc. grew its position in Royal Gold by 22.4% in the 4th quarter. Victory Capital Management Inc. now owns 193,518 shares of the basic materials company’s stock worth $23,408,000 after purchasing an additional 35,458 shares during the period. BNP Paribas Financial Markets grew its position in Royal Gold by 151.2% in the 1st quarter. BNP Paribas Financial Markets now owns 24,941 shares of the basic materials company’s stock worth $3,037,000 after purchasing an additional 15,012 shares during the period. Campbell & CO Investment Adviser LLC bought a new stake in Royal Gold in the 4th quarter worth approximately $1,239,000. Finally, CANADA LIFE ASSURANCE Co grew its position in shares of Royal Gold by 36.1% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 55,368 shares of the basic materials company’s stock valued at $6,746,000 after acquiring an additional 14,675 shares during the period. Institutional investors 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.