#7 - Royal Gold (NASDAQ:RGLD)
Gold has been one of the best-performing assets in 2024, and Royal Gold Inc. (NASDAQ: RGLD) is an intriguing investment option if you’re looking to get in on that growth.
The reason for the metal’s growth is based on the increase in government spending over the past four years. That's not new, but what is new is that there seems to be a growing bipartisan sentiment that the nation’s national deficit is unsustainable.
Mining stocks are an alternative to owning physical gold. However, Royal Gold is not an ordinary mining company. Instead of directly operating mines, it acquires and manages precious metal streams and royalties. This involves providing upfront capital to mining companies in exchange for the right to purchase a portion of their metal production at a predetermined price or to receive a percentage of revenue or metal produced.
Analysts project the company’s earnings will grow by more than 26% in 2024, and have a price target of $159.50 (a 10% increase) in addition to the company’s 1.1% dividend yield. The company has increased that dividend for 24 consecutive years, including an average annual return of over 10% in the last three years.
About Royal Gold
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.
Read More - Current Price
- $145.66
- Consensus Rating
- Hold
- Ratings Breakdown
- 4 Buy Ratings, 5 Hold Ratings, 1 Sell Ratings.
- Consensus Price Target
- $165.43 (13.6% Upside)
Within the group of Dividend Achievers, you'll find stocks that have increased their dividend by at least 25 or 50 consecutive years. These companies are known as Dividend Aristocrats and Dividend Kings, respectively. Therefore, every Dividend Aristocrat and Dividend King is also a Dividend Achiever.
Dividend Achievers may attract traders, but generally speaking, these are stocks you'd want to hold for some time. That's because moving quickly in and out of these stocks diminishes the benefit of compounding. While they may not be stocks you own forever, a long position is the best strategy for maximizing your gains in these stocks.
MarketBeat provides a list of current Dividend Achievers that you can filter by characteristics such as market cap, sector, and analyst sentiment. And once you find a stock to add to your portfolio or watchlist, you can count on MarketBeat to keep you current on news that affects that stock.
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