Equity Management

Raymond James Boosts Royal Gold (NASDAQ:RGLD) Price Target to $140.00

Raymond James raised their price target on Royal Gold from $138.00 to $140.00 and gave the stock an "outperform" rating in a research report on Friday.

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Feb 4, 2023 • 4 min read

Royal Gold (NASDAQ:RGLD - Get Rating) (TSE:RGL) had its target price boosted by Raymond James from $138.00 to $140.00 in a research note issued to investors on Friday, BayStreet.CA reports. The firm currently has an "outperform" rating on the basic materials company's stock. Raymond James' price target would suggest a potential upside of 12.26% from the stock's previous close.

RGLD has been the topic of a number of other research reports. National Bankshares decreased their target price on shares of Royal Gold from $125.00 to $120.00 and set a "sector perform" rating on the stock in a research report on Friday, November 4th. StockNews.com raised shares of Royal Gold from a "sell" rating to a "hold" rating in a research note on Thursday, December 1st. Credit Suisse Group assumed coverage on shares of Royal Gold in a research note on Monday, December 12th. They set a "neutral" rating and a $120.00 price target on the stock. Barclays dropped their price target on shares of Royal Gold from $110.00 to $108.00 and set an "equal weight" rating on the stock in a research note on Monday, October 17th. Finally, TD Securities raised their price objective on shares of Royal Gold from $135.00 to $140.00 and gave the stock a "buy" rating in a report on Friday. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $135.82.

Royal Gold Stock Performance

NASDAQ:RGLD traded up $4.18 during mid-day trading on Friday, reaching $124.71. 18,856 shares of the stock were exchanged, compared to its average volume of 470,895. The company has a 50 day simple moving average of $107.67 and a 200-day simple moving average of $102.11. The stock has a market capitalization of $8.19 billion, a P/E ratio of 32.63, a P/E/G ratio of 3.25 and a beta of 0.62. Royal Gold has a 1 year low of $84.54 and a 1 year high of $147.70. The company has a quick ratio of 2.61, a current ratio of 2.82 and a debt-to-equity ratio of 0.16.

Royal Gold (NASDAQ:RGLD - Get Rating) (TSE:RGL) last posted its quarterly earnings results on Wednesday, November 2nd. The basic materials company reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.01). The firm had revenue of $131.43 million for the quarter. Royal Gold had a return on equity of 8.84% and a net margin of 41.19%. Analysts anticipate that Royal Gold will post 3.26 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Paul Libner sold 250 shares of the business's stock in a transaction dated Tuesday, January 3rd. The stock was sold at an average price of $115.00, for a total value of $28,750.00. Following the completion of the transaction, the chief financial officer now owns 14,265 shares of the company's stock, valued at $1,640,475. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.38% of the company's stock.

Institutional Trading of Royal Gold

Several institutional investors have recently added to or reduced their stakes in the stock. National Bank of Canada FI lifted its stake in Royal Gold by 280.0% in the second quarter. National Bank of Canada FI now owns 247 shares of the basic materials company's stock valued at $27,000 after buying an additional 182 shares during the period. Harbor Investment Advisory LLC grew its stake in Royal Gold by 200.0% in the 3rd quarter. Harbor Investment Advisory LLC now owns 300 shares of the basic materials company's stock valued at $28,000 after purchasing an additional 200 shares during the period. 1832 Asset Management L.P. bought a new position in Royal Gold in the 1st quarter valued at $51,000. Eagle Bay Advisors LLC bought a new position in Royal Gold in the 2nd quarter valued at $41,000. Finally, Penserra Capital Management LLC grew its stake in shares of Royal Gold by 94.1% during the 3rd quarter. Penserra Capital Management LLC now owns 462 shares of the basic materials company's stock worth $43,000 after acquiring an additional 224 shares during the period. 78.13% 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. 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, and cobalt.