Shares of Royal Gold, Inc. (NASDAQ:RGLD - Get Free Report) TSE: RGL dropped 4.6% during trading on Tuesday . The company traded as low as $163.01 and last traded at $160.47. Approximately 243,465 shares traded hands during mid-day trading, a decline of 46% from the average daily volume of 451,314 shares. The stock had previously closed at $168.24.
Analyst Ratings Changes
RGLD has been the subject of a number of research reports. Wall Street Zen raised shares of Royal Gold from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 24th. Royal Bank Of Canada cut their price objective on shares of Royal Gold from $175.00 to $170.00 and set an "outperform" rating for the company in a research note on Friday, April 4th. Canaccord Genuity Group upped their price objective on shares of Royal Gold from $202.00 to $203.00 in a research note on Wednesday, June 11th. Scotiabank raised shares of Royal Gold from a "sector perform" rating to a "sector outperform" rating and upped their price objective for the company from $166.00 to $189.00 in a research note on Monday, April 14th. Finally, CIBC upped their price objective on shares of Royal Gold from $202.00 to $215.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $192.13.
View Our Latest Stock Report on Royal Gold
Royal Gold Stock Performance
The firm has a market cap of $10.55 billion, a PE ratio of 26.53, a PEG ratio of 1.20 and a beta of 0.44. The company's 50-day simple moving average is $177.82 and its two-hundred day simple moving average is $160.90.
Royal Gold (NASDAQ:RGLD - Get Free Report) TSE: RGL last announced its quarterly earnings results on Wednesday, May 7th. The basic materials company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.14. The business had revenue of $193.44 million during the quarter, compared to analysts' expectations of $176.17 million. Royal Gold had a net margin of 52.15% and a return on equity of 12.48%. The firm's revenue for the quarter was up 29.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.91 EPS. On average, analysts expect that Royal Gold, Inc. will post 6.2 EPS for the current year.
Royal Gold Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, July 17th. Shareholders of record on Thursday, July 3rd will be given a dividend of $0.45 per share. The ex-dividend date is Thursday, July 3rd. This represents a $1.80 annualized dividend and a yield of 1.12%. Royal Gold's payout ratio is currently 29.80%.
Institutional Investors Weigh In On Royal Gold
Institutional investors have recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. bought a new position in Royal Gold in the 4th quarter worth $741,000. Arizona State Retirement System raised its holdings in Royal Gold by 0.8% in the 4th quarter. Arizona State Retirement System now owns 19,076 shares of the basic materials company's stock worth $2,515,000 after purchasing an additional 149 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in Royal Gold by 8.0% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 27,196 shares of the basic materials company's stock worth $4,447,000 after purchasing an additional 2,015 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Royal Gold by 1.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 484,207 shares of the basic materials company's stock worth $63,843,000 after purchasing an additional 5,067 shares in the last quarter. Finally, QRG Capital Management Inc. raised its holdings in Royal Gold by 38.1% in the 1st quarter. QRG Capital Management Inc. now owns 3,718 shares of the basic materials company's stock worth $608,000 after purchasing an additional 1,025 shares in the last quarter. Hedge funds and other institutional investors own 83.65% of the company's stock.
About Royal Gold
(
Get Free Report)
Royal Gold, Inc, together with its subsidiaries, acquires and manages precious metal streams, royalties, and related interests. The company engages in acquiring stream and royalty interests or to finance projects that are in production, development, or in the exploration stage in exchange for stream or royalty interests, which primarily consists of gold, silver, copper, nickel, zinc, lead, and other metals.
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