Royal Gold, Inc. (NASDAQ:RGLD - Get Free Report) TSE: RGL shares gapped down prior to trading on Monday . The stock had previously closed at $179.82, but opened at $166.93. Royal Gold shares last traded at $164.30, with a volume of 351,551 shares.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently weighed in on the stock. BMO Capital Markets set a $197.00 price objective on shares of Royal Gold and gave the stock a "market perform" rating in a report on Thursday, May 22nd. CIBC boosted their price objective on shares of Royal Gold from $202.00 to $215.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. Canaccord Genuity Group boosted their price objective on shares of Royal Gold from $202.00 to $203.00 in a report on Wednesday, June 11th. Scotiabank upgraded shares of Royal Gold from a "sector perform" rating to a "sector outperform" rating and boosted their price objective for the stock from $166.00 to $189.00 in a report on Monday, April 14th. Finally, Raymond James Financial boosted their price objective on shares of Royal Gold from $181.00 to $200.00 and gave the stock an "outperform" rating in a report on Friday, April 4th. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $192.13.
View Our Latest Research Report on Royal Gold
Royal Gold Trading Down 0.4%
The stock's fifty day moving average is $177.37 and its 200 day moving average is $160.90. The company has a market capitalization of $10.52 billion, a P/E ratio of 26.46, a price-to-earnings-growth 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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.37 by $0.14. The business had revenue of $193.44 million for the quarter, compared to the consensus estimate of $176.17 million. Royal Gold had a net margin of 52.15% and a return on equity of 12.48%. The company's quarterly revenue was up 29.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.91 EPS. On average, analysts expect that Royal Gold, Inc. will post 6.2 EPS for the current fiscal year.
Royal Gold Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 17th. Stockholders of record on Thursday, July 3rd will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date of this dividend is Thursday, July 3rd. Royal Gold's dividend payout ratio is presently 29.80%.
Institutional Trading of Royal Gold
A number of hedge funds and other institutional investors have recently modified their holdings of RGLD. AQR Capital Management LLC grew its position in shares of Royal Gold by 68.8% in the 1st quarter. AQR Capital Management LLC now owns 1,682,911 shares of the basic materials company's stock worth $274,887,000 after buying an additional 685,857 shares during the period. GAMMA Investing LLC grew its position in shares of Royal Gold by 17,722.4% in the 1st quarter. GAMMA Investing LLC now owns 457,501 shares of the basic materials company's stock worth $74,806,000 after buying an additional 454,934 shares during the period. Select Equity Group L.P. purchased a new stake in shares of Royal Gold in the 4th quarter worth about $55,825,000. Norges Bank purchased a new stake in shares of Royal Gold in the 4th quarter worth about $44,009,000. Finally, Nuveen LLC purchased a new stake in shares of Royal Gold in the 1st quarter worth about $40,882,000. 83.65% of the stock is owned by hedge funds and other institutional investors.
Royal Gold Company Profile
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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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