B.Riley FBR analyst Adam Graf maintained a Buy rating on Royal Gold (RGLD) today and set a price target of $125. The company’s shares closed yesterday at $117.50, close to its 52-week high of $117.80.
Graf observed:
“We are raising our price target for Royal Gold (RGLD) from $100 to $125 after reviewing each of the active and near-term inactive royalties and streams, incorporating current metal price forward curves, and reducing our discount rate by incorporating the implied discount rate for the peer group (see exhibit 1).”
According to TipRanks.com, Graf is a 1-star analyst with an average return of -1.0% and a 48.6% success rate. Graf covers the Basic Materials sector, focusing on stocks such as Newmont Mining Corporation, First Majestic Silver, and Hecla Mining Company.
The word on The Street in general, suggests a Hold analyst consensus rating for Royal Gold with a $107 average price target.
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Based on Royal Gold’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $28.77 million. In comparison, last year the company had a net profit of $26.65 million.
Based on the recent corporate insider activity of 27 insiders, corporate insider sentiment is negative on the stock.
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Royal Gold, Inc. engages in the acquisition and management of metal streams, royalties, and similar interests. It operates through the Acquisition and Management of Stream Interests and Acquisition and Management of Royalty Interests segments.
