Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) had its price objective increased by FBR & Co from $80.00 to $81.00 in a report released on Monday, May 15th, Marketbeat.com reports. They currently have an outperform rating on the basic materials company’s stock.
Other equities research analysts also recently issued research reports about the stock. Canaccord Genuity reaffirmed a buy rating and set a $95.00 price target on shares of Royal Gold in a research note on Monday, February 6th. BMO Capital Markets reaffirmed a buy rating and set a $88.00 price target on shares of Royal Gold in a research note on Friday, March 31st. Zacks Investment Research raised shares of Royal Gold from a sell rating to a hold rating in a research note on Wednesday, February 8th. Barclays PLC reissued an overweight rating and issued a $83.00 target price (up previously from $82.00) on shares of Royal Gold in a research report on Saturday, April 22nd. Finally, Scotiabank boosted their target price on shares of Royal Gold from $81.00 to $115.00 and gave the stock a sector perform rating in a research report on Friday, May 12th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock currently has an average rating of Buy and an average price target of $89.13.
Royal Gold (RGLD) traded down 0.56% on Monday, hitting $75.03. The stock had a trading volume of 956,828 shares. The company has a 50-day moving average price of $76.28 and a 200 day moving average price of $70.28. The firm has a market cap of $4.90 billion, a PE ratio of 47.94 and a beta of 0.73. Royal Gold has a 52-week low of $60.21 and a 52-week high of $87.74.
Royal Gold (NASDAQ:RGLD) (TSE:RGL) last issued its earnings results on Wednesday, May 10th. The basic materials company reported $0.36 EPS for the quarter, missing the Zacks’ consensus estimate 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 period in the prior year, the business posted $0.29 EPS. The business’s revenue was up 14.4% on a year-over-year basis. Equities analysts forecast that Royal Gold will post $1.64 earnings per share for the current fiscal year.
The company also recently announced 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 yield of 1.28%. The ex-dividend date is Wednesday, July 5th. Royal Gold’s payout ratio is 61.15%.
In other Royal Gold news, CFO Stefan Wenger sold 2,000 shares of the business’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $80.06, for a total transaction of $160,120.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 transaction of $2,000,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 35,000 shares of company stock valued at $2,758,220 over the last three months. 1.37% of the stock is currently owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in RGLD. Seven Eight Capital LP bought a new stake in Royal Gold during the fourth quarter worth approximately $919,000. Comerica Bank increased its stake in Royal Gold by 3.0% in the first quarter. Comerica Bank now owns 66,791 shares of the basic materials company’s stock worth $4,636,000 after buying an additional 1,936 shares during the period. ICM Asset Management Inc. WA bought a new stake in Royal Gold during the fourth quarter worth approximately $1,829,000. Van ECK Associates Corp increased its stake in Royal Gold by 15.8% in the first quarter. Van ECK Associates Corp now owns 4,901,086 shares of the basic materials company’s stock worth $343,321,000 after buying an additional 667,497 shares during the period. Finally, BlackRock Advisors LLC increased its stake in Royal Gold by 1.7% in the third quarter. BlackRock Advisors LLC now owns 36,518 shares of the basic materials company’s stock worth $2,828,000 after buying an additional 613 shares during the period. Institutional investors own 70.73% of the company’s stock.
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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