Royal Gold (RGLD) Soars 1.80% to Record High on Strong Earnings

Royal Gold (RGLD) surged to a record high today, with an intraday gain of 1.80%. The stock has been on a winning streak, rising for four consecutive days, with a total increase of 16.93% over the past four days.

Royal Gold's strong performance in 2024 has been a significant driver of its stock price. The company reported record revenue of $719 million, largely attributed to robust gold prices. This financial achievement has bolstered investor confidence in the company's ability to generate substantial returns.

In addition to its impressive financial results, Royal Gold has also received a notable upgrade from Scotiabank analyst Tanya Jakusconek. The analyst upgraded the stock to Outperform from Sector Perform, with a price target increased to $189 from $166. This upgrade reflects a positive outlook on the company's future prospects and has likely contributed to the recent surge in its stock price.