Royal Gold, Inc (NASDAQ:RGLD) (TSE:RGL) had its target price increased by Scotiabank from $81.00 to $115.00 in a research note published on Friday. Scotiabank currently has a sector perform rating on the basic materials company’s stock.
Other research analysts also recently issued reports about the company. Canaccord Genuity reiterated a buy rating and set a $95.00 price objective on shares of Royal Gold in a report on Monday, February 6th. BMO Capital Markets reiterated a buy rating and set a $88.00 price objective on shares of Royal Gold in a report on Friday, March 31st. Zacks Investment Research upgraded Royal Gold from a sell rating to a hold rating in a report on Wednesday, February 8th. Barclays PLC reiterated an overweight rating and set a $83.00 price objective (up from $82.00) on shares of Royal Gold in a report on Saturday, April 22nd. Finally, National Bank Financial downgraded Royal Gold from an outperform rating to a sector perform rating and increased their price objective for the stock from $80.00 to $82.50 in a report on Thursday, April 20th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Royal Gold currently has a consensus rating of Buy and a consensus price target of $88.21.
Royal Gold (NASDAQ:RGLD) opened at 79.95 on Friday. The company’s 50-day moving average price is $72.19 and its 200 day moving average price is $69.02. Royal Gold has a 52 week low of $51.76 and a 52 week high of $87.74. The company has a market capitalization of $5.21 billion, a PE ratio of 51.09 and a beta of 0.53.
Royal Gold (NASDAQ:RGLD) last announced its quarterly earnings results on Wednesday, May 10th. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by $0.02. Royal Gold had a return on equity of 4.03% and a net margin of 2.58%. The business had revenue of $107 million during the quarter, compared to the consensus estimate of $105.14 million. During the same quarter last year, the company earned $0.29 earnings per share. The firm’s revenue was up 14.4% compared to the same quarter last year. On average, equities research analysts anticipate that Royal Gold will post $1.65 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 21st. Stockholders of record on Friday, April 7th were given a $0.24 dividend. The ex-dividend date of this dividend was Wednesday, April 5th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.20%. Royal Gold’s payout ratio is 564.71%.
In other Royal Gold news, Director Sybil E. Veenman acquired 1,000 shares of the business’s stock in a transaction dated Tuesday, March 7th. The stock was bought at an average cost of $62.76 per share, with a total value of $62,760.00. Following the completion of the transaction, the director now directly owns 1,000 shares in the company, valued at approximately $62,760. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP William Holmes Heissenbuttel sold 10,067 shares of the firm’s stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $63.26, for a total value of $636,838.42. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,567 shares of company stock valued at $1,034,938. Insiders own 1.37% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in RGLD. Meadow Creek Investment Management LLC boosted its stake in Royal Gold by 6.2% in the first quarter. Meadow Creek Investment Management LLC now owns 1,648 shares of the basic materials company’s stock worth $115,000 after buying an additional 96 shares during the last quarter. Sei Investments Co. boosted its stake in Royal Gold by 34.4% in the third quarter. Sei Investments Co. now owns 1,829 shares of the basic materials company’s stock worth $142,000 after buying an additional 468 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its stake in Royal Gold by 926.5% in the third quarter. DekaBank Deutsche Girozentrale now owns 1,940 shares of the basic materials company’s stock worth $153,000 after buying an additional 1,751 shares during the last quarter. Neuburgh Advisers LLC boosted its stake in Royal Gold by 6.2% in the first quarter. Neuburgh Advisers LLC now owns 2,266 shares of the basic materials company’s stock worth $159,000 after buying an additional 132 shares during the last quarter. Finally, Hexavest Inc. acquired a new stake in Royal Gold during the first quarter worth about $166,000. 68.94% of the stock is owned by institutional investors.
Royal Gold Company Profile
Royal Gold, Inc, together with its subsidiaries, is engaged in acquiring and managing precious metal streams, royalties and similar interests. The Company operates through two segments: Acquisition and Management of Stream Interests, and Acquisition and Management of Royalty Interests. Its assets are located in Canada, Chile, Dominican Republic, Mexico, the United States, Africa, Australia and Other.
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