Royal Gold (NASDAQ:RGLD) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Royal Gold (NASDAQ:RGLD) (TSE:RGL) had its price target upped by equities researchers at Canaccord Genuity Group from $202.00 to $203.00 in a report released on Wednesday,BayStreet.CA reports. Canaccord Genuity Group’s price objective indicates a potential upside of 13.39% from the stock’s current price.

Several other research firms have also recently commented on RGLD. Wall Street Zen upgraded shares of Royal Gold from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 24th. Royal Bank of Canada cut their price target on shares of Royal Gold from $175.00 to $170.00 and set an “outperform” rating on the stock in a report on Friday, April 4th. Scotiabank upgraded shares of Royal Gold from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the company from $166.00 to $189.00 in a research note on Monday, April 14th. Raymond James increased their price target on shares of Royal Gold from $181.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, April 4th. Finally, BMO Capital Markets set a $197.00 price objective on shares of Royal Gold and gave the stock a “market perform” rating in a report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Royal Gold presently has a consensus rating of “Moderate Buy” and a consensus price target of $185.33.

Royal Gold Price Performance

RGLD stock opened at $179.03 on Wednesday. The company’s 50 day simple moving average is $177.61 and its 200-day simple moving average is $156.78. The firm has a market capitalization of $11.78 billion, a PE ratio of 35.52, a P/E/G ratio of 3.42 and a beta of 0.44. Royal Gold has a 12 month low of $119.72 and a 12 month high of $191.78.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last announced its quarterly earnings results on Wednesday, May 7th. The basic materials company reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.14. Royal Gold had a net margin of 46.15% and a return on equity of 11.46%. The company had revenue of $193.44 million for the quarter, compared to analyst estimates of $176.17 million. During the same quarter last year, the business earned $0.91 EPS. Royal Gold’s revenue for the quarter was up 29.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Royal Gold will post 6.2 earnings per share for the current year.

Insider Transactions at Royal Gold

In other Royal Gold news, SVP Randy Shefman sold 1,300 shares of Royal Gold stock in a transaction on Monday, March 17th. The shares were sold at an average price of $154.98, for a total transaction of $201,474.00. Following the transaction, the senior vice president now directly owns 9,360 shares of the company’s stock, valued at $1,450,612.80. The trade was a 12.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.49% of the company’s stock.

Institutional Investors Weigh In On Royal Gold

Several hedge funds and other institutional investors have recently modified their holdings of RGLD. AQR Capital Management LLC grew its holdings in shares of Royal Gold by 68.8% during the first quarter. AQR Capital Management LLC now owns 1,682,911 shares of the basic materials company’s stock worth $274,887,000 after purchasing an additional 685,857 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Royal Gold by 17,722.4% during the first quarter. GAMMA Investing LLC now owns 457,501 shares of the basic materials company’s stock worth $74,806,000 after purchasing an additional 454,934 shares in the last quarter. Select Equity Group L.P. purchased a new stake in Royal Gold in the fourth quarter worth approximately $55,825,000. Norges Bank purchased a new stake in Royal Gold in the fourth quarter worth approximately $44,009,000. Finally, Nuveen LLC purchased a new stake in Royal Gold in the first quarter worth approximately $40,882,000. 83.65% of the stock is currently owned by institutional investors.

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.