Royal Gold (NASDAQ:RGLD) Shares Down 4.6% - Time to Sell?

Shares of Royal Gold, Inc. (NASDAQ:RGLD - Get Free Report) TSE: RGL fell 4.6% on Tuesday . The company traded as low as $163.01 and last traded at $160.47. 243,465 shares changed hands during mid-day trading, a decline of 46% from the average session volume of 451,314 shares. The stock had previously closed at $168.24.

Wall Street Analyst Weigh In

A number of research firms have weighed in on RGLD. Royal Bank Of Canada decreased their price target on Royal Gold from $175.00 to $170.00 and set an "outperform" rating for the company in a research note on Friday, April 4th. Raymond James Financial raised their price target on Royal Gold from $181.00 to $200.00 and gave the company an "outperform" rating in a research note on Friday, April 4th. Scotiabank upgraded Royal Gold from a "sector perform" rating to a "sector outperform" rating and raised their price target for the company from $166.00 to $189.00 in a research note on Monday, April 14th. CIBC raised their price target on Royal Gold from $202.00 to $215.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. Finally, BMO Capital Markets set a $197.00 target price on Royal Gold and gave the stock a "market perform" rating in a research note on Thursday, May 22nd. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $192.13.

Royal Gold Stock Performance

The business has a 50 day moving average of $177.00 and a two-hundred day moving average of $161.09. The firm has a market capitalization of $10.56 billion, a price-to-earnings ratio of 26.56, a P/E/G ratio of 1.14 and a beta of 0.44.

Royal Gold (NASDAQ:RGLD - Get Free Report) TSE: RGL last issued its quarterly earnings data on Wednesday, May 7th. The basic materials company reported $1.51 EPS for the quarter, topping the consensus estimate of $1.37 by $0.14. The firm had revenue of $193.44 million during the quarter, compared to the consensus estimate of $176.17 million. Royal Gold had a return on equity of 12.48% and a net margin of 52.15%. The company's quarterly revenue was up 29.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.91 earnings per share. On average, equities analysts predict that Royal Gold, Inc. will post 6.2 EPS for the current fiscal year.

Royal Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 17th. Investors of record on Thursday, July 3rd will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date is Thursday, July 3rd. Royal Gold's payout ratio is 29.80%.

Hedge Funds Weigh In On Royal Gold

Several institutional investors and hedge funds have recently bought and sold shares of the company. Capital World Investors grew its holdings in Royal Gold by 0.4% during the fourth quarter. Capital World Investors now owns 8,773,925 shares of the basic materials company's stock valued at $1,156,842,000 after purchasing an additional 37,648 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Royal Gold by 0.7% in the first quarter. Vanguard Group Inc. now owns 6,698,891 shares of the basic materials company's stock worth $1,095,336,000 after acquiring an additional 46,956 shares during the period. AQR Capital Management LLC boosted its holdings in shares of Royal Gold by 68.8% in the first quarter. AQR Capital Management LLC now owns 1,682,911 shares of the basic materials company's stock worth $274,887,000 after acquiring an additional 685,857 shares during the period. Findlay Park Partners LLP boosted its holdings in shares of Royal Gold by 1.4% in the first quarter. Findlay Park Partners LLP now owns 1,241,030 shares of the basic materials company's stock worth $202,921,000 after acquiring an additional 16,600 shares during the period. Finally, Northern Trust Corp boosted its holdings in shares of Royal Gold by 19.6% in the fourth quarter. Northern Trust Corp now owns 1,029,431 shares of the basic materials company's stock worth $135,730,000 after acquiring an additional 168,569 shares during the period. 83.65% of the stock is owned by institutional investors.

Royal Gold Company Profile

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.