Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) had its price target increased by Scotiabank from $81.00 to $115.00 in a research note released on Friday, May 12th. They currently have a sector perform rating on the basic materials company’s stock.
RGLD has been the subject of a number of other reports. Canaccord Genuity reissued a buy rating and issued a $95.00 target price on shares of Royal Gold in a research report on Monday, February 6th. BMO Capital Markets reaffirmed a buy rating and set a $88.00 price objective on shares of Royal Gold in a research report on Friday, March 31st. Zacks Investment Research raised Royal Gold from a sell rating to a hold rating in a research report on Wednesday, February 8th. National Bank Financial downgraded Royal Gold from an outperform rating to a sector perform rating and increased their target price for the stock from $80.00 to $82.50 in a research note on Thursday, April 20th. Finally, Barclays PLC reissued an overweight rating and set a $83.00 target price (up from $82.00) on shares of Royal Gold in a research note on Saturday, April 22nd. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of $89.13.
Shares of Royal Gold (NASDAQ RGLD) traded down 0.56% during trading on Friday, reaching $75.03. 956,828 shares of the company were exchanged. Royal Gold has a 1-year low of $60.21 and a 1-year high of $87.74. The firm has a market capitalization of $4.90 billion, a P/E ratio of 47.94 and a beta of 0.73. The firm’s 50 day moving average is $76.28 and its 200 day moving average is $70.28.
Royal Gold (NASDAQ:RGLD) (TSE:RGL) last released its quarterly earnings data on Wednesday, May 10th. The basic materials company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by $0.02. Royal Gold had a net margin of 23.93% and a return on equity of 4.22%. The business had revenue of $107 million during the quarter, compared to analysts’ expectations of $105.14 million. During the same quarter in the previous year, the company posted $0.29 EPS. The company’s revenue was up 14.4% compared to the same quarter last year. On average, equities analysts anticipate that Royal Gold will post $1.64 EPS for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 21st. Shareholders of record on Friday, July 7th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date of this dividend is Wednesday, July 5th. Royal Gold’s dividend payout ratio is presently 61.15%.
In other news, CFO Stefan Wenger sold 2,000 shares of Royal Gold stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $80.06, for a total transaction of $160,120.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Tony A. Jensen sold 25,000 shares of the business’s stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $80.00, for a total value of $2,000,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,000 shares of company stock worth $2,758,220. 1.37% of the stock is currently owned by insiders.
A number of hedge funds have recently made changes to their positions in RGLD. Meadow Creek Investment Management LLC raised its stake in shares of 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 valued at $115,000 after buying an additional 96 shares in the last quarter. Sei Investments Co. increased its position in shares of 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 increased its position in shares of 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 increased its position in shares of 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. bought a new position in shares of Royal Gold during the first quarter worth approximately $166,000. 70.73% of the stock is owned by hedge funds and other institutional investors.
About Royal Gold
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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