New Buy Rating for Royal Gold (RGLD), the Basic Materials Giant

RBC Capital analyst Josh Wolfson maintained a Buy rating on Royal Gold on March 9 and set a price target of $285.00. The company’s shares closed yesterday at $281.86.

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Wolfson covers the Basic Materials sector, focusing on stocks such as Royal Gold, Barrick Mining, and Triple Flag Precious Metals. According to TipRanks, Wolfson has an average return of 26.1% and a 70.29% success rate on recommended stocks.

Royal Gold has an analyst consensus of Moderate Buy, with a price target consensus of $312.33, a 10.81% upside from current levels. In a report released on March 3, TipRanks – OpenAI also reiterated a Buy rating on the stock with a $336.00 price target.

Based on Royal Gold’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $375.32 million and a net profit of $93.61 million. In comparison, last year the company earned a revenue of $202.56 million and had a net profit of $107.41 million

Based on the recent corporate insider activity of 30 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of RGLD in relation to earlier this year. Last month, William M. Hayes, a Director at RGLD sold 4,173.00 shares for a total of $1,156,213.11.