Royal Gold shares surge 5.15% intraday after hitting all-time high and Raymond James raises price target to $264.

Royal Gold surged 5.15% in intraday trading after hitting an all-time high of $235.56, driven by record third-quarter revenue of $252 million and a 6% annual dividend increase to $1.90 per share. Despite missing EPS estimates, the company’s strong gross profit margin (87.7%), strategic royalty/streaming model, and Raymond James’ upgraded $264 price target (from $257) reinforced investor confidence. Analysts highlighted its "EXCELENTE" financial health rating and bullish long-term outlook, with price targets as high as $280, as key catalysts for the intraday rally.