Royal Gold (NASDAQ:RGLD – Get Rating) (TSE:RGL) had its price target cut by equities research analysts at Barclays to $110.00 in a research note issued on Tuesday, Stock Target Advisor reports. Barclays‘s price target points to a potential upside of 5.86% from the stock’s previous close.
Several other research firms have also issued reports on RGLD. TD Securities dropped their price objective on Royal Gold from $145.00 to $140.00 and set a “buy” rating for the company in a research note on Friday. Raymond James lowered their price target on Royal Gold from $144.00 to $142.00 and set an “outperform” rating on the stock in a research report on Friday. National Bank Financial lowered their price target on Royal Gold from $165.00 to $150.00 in a research report on Thursday, July 21st. Canaccord Genuity Group upgraded Royal Gold from a “hold” rating to a “buy” rating in a research report on Monday, June 13th. Finally, National Bankshares lowered their price target on Royal Gold from $150.00 to $140.00 and set a “sector perform” rating on the stock in a research report on Friday. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Royal Gold currently has a consensus rating of “Hold” and a consensus price target of $138.00.
Royal Gold Stock Down 0.8 %
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NASDAQ:RGLD traded down $0.81 during trading hours on Tuesday, hitting $103.91. 10,476 shares of the company’s stock traded hands, compared to its average volume of 552,142. The firm has a market cap of $6.82 billion, a P/E ratio of 24.82, a P/E/G ratio of 2.86 and a beta of 0.61. Royal Gold has a 52 week low of $92.01 and a 52 week high of $147.70. The business’s fifty day simple moving average is $107.67 and its two-hundred day simple moving average is $119.31.
Insider Activity at Royal Gold
In other Royal Gold news, VP Randy Shefman sold 638 shares of Royal Gold stock in a transaction that occurred on Thursday, June 2nd. The stock was sold at an average price of $117.57, for a total transaction of $75,009.66. Following the sale, the vice president now directly owns 9,456 shares of the company’s stock, valued at approximately $1,111,741.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.38% of the stock is owned by company insiders.
Hedge Funds Weigh In On Royal Gold
A number of hedge funds have recently added to or reduced their stakes in the company. Arizona State Retirement System raised its stake in Royal Gold by 0.4% during the 1st quarter. Arizona State Retirement System now owns 17,743 shares of the basic materials company’s stock valued at $2,507,000 after buying an additional 77 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Royal Gold by 2.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,042 shares of the basic materials company’s stock worth $572,000 after purchasing an additional 96 shares in the last quarter. Commerce Bank increased its stake in shares of Royal Gold by 3.8% in the 4th quarter. Commerce Bank now owns 2,629 shares of the basic materials company’s stock worth $277,000 after purchasing an additional 97 shares in the last quarter. Securian Asset Management Inc. increased its stake in shares of Royal Gold by 1.7% in the 2nd quarter. Securian Asset Management Inc. now owns 5,984 shares of the basic materials company’s stock worth $639,000 after purchasing an additional 101 shares in the last quarter. Finally, Avantax Advisory Services Inc. increased its stake in shares of Royal Gold by 5.2% in the 1st quarter. Avantax Advisory Services Inc. now owns 2,256 shares of the basic materials company’s stock worth $319,000 after purchasing an additional 111 shares in the last quarter. 80.33% of the stock is currently owned by hedge funds and other 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.
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