Royal Gold, Inc. (NASDAQ:RGLD – Get Free Report) (TSE:RGL) has been given a consensus recommendation of “Moderate Buy” by the thirteen ratings firms that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and eight have given a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $289.64.
A number of analysts have issued reports on the company. UBS Group raised their price target on Royal Gold from $280.00 to $285.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Jefferies Financial Group dropped their price objective on shares of Royal Gold from $318.00 to $311.00 and set a “buy” rating for the company in a research note on Monday, July 6th. Scotiabank reiterated a “sector perform” rating and set a $310.00 price objective on shares of Royal Gold in a report on Tuesday, July 14th. Weiss Ratings cut shares of Royal Gold from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, August 4th. Finally, TD boosted their target price on shares of Royal Gold from $289.00 to $315.00 and gave the company a “buy” rating in a report on Friday, September 18th.
Check Out Our Latest Report on Royal Gold
Royal Gold Trading Down 0.1%
Royal Gold (NASDAQ:RGLD – Get Free Report) (TSE:RGL) last posted its quarterly earnings data on Wednesday, August 5th. The basic materials company reported $2.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.55 by $0.01. The business had revenue of $468.98 million for the quarter, compared to analysts’ expectations of $458.85 million. Royal Gold had a return on equity of 12.06% and a net margin of 47.74%.The business’s revenue was up 114.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.81 earnings per share. As a group, analysts forecast that Royal Gold will post 10.26 EPS for the current year.
Royal Gold Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Shareholders of record on Friday, October 2nd will be paid a dividend of $0.4750 per share. The ex-dividend date of this dividend is Friday, October 2nd. This represents a $1.90 dividend on an annualized basis and a yield of 0.8%. Royal Gold’s dividend payout ratio (DPR) is currently 20.74%.
Insider Buying and Selling at Royal Gold
In other news, SVP Randy Shefman sold 500 shares of the business’s stock in a transaction on Friday, August 28th. The shares were sold at an average price of $262.80, for a total transaction of $131,400.00. Following the completion of the sale, the senior vice president directly owned 8,082 shares of the company’s stock, valued at $2,123,949.60. The trade was a 5.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.35% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Several large investors have recently made changes to their positions in the company. QRG Capital Management Inc. grew its position in Royal Gold by 4.8% during the second quarter. QRG Capital Management Inc. now owns 4,570 shares of the basic materials company’s stock valued at $912,000 after acquiring an additional 208 shares during the period. Core Capital Management & Research inc. acquired a new stake in Royal Gold during the second quarter worth about $32,000. Integrated Wealth Concepts LLC raised its holdings in shares of Royal Gold by 5.9% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 24,546 shares of the basic materials company’s stock worth $4,900,000 after purchasing an additional 1,361 shares during the period. Allworth Financial LP lifted its stake in shares of Royal Gold by 94.9% in the 2nd quarter. Allworth Financial LP now owns 10,449 shares of the basic materials company’s stock valued at $2,086,000 after purchasing an additional 5,088 shares in the last quarter. Finally, Arizona State Retirement System lifted its stake in shares of Royal Gold by 1.0% in the 2nd quarter. Arizona State Retirement System now owns 23,410 shares of the basic materials company’s stock valued at $4,673,000 after purchasing an additional 228 shares in the last quarter. 83.65% of the stock is owned by hedge funds and other institutional investors.
About Royal Gold
Royal Gold, Inc is a precious metals streaming and royalty company headquartered in Denver, Colorado. Rather than operating mines directly, the company provides financing to mining companies in exchange for the right to purchase a portion of the metals produced from certain projects at predetermined prices, or to receive revenue-based payments tied to mineral production.
Royal Gold’s portfolio is organized into two primary businesses: streams and royalties. Its streaming agreements generally provide rights to purchase gold, silver, copper or other metals from mining operations, while its royalty interests entitle the company to a percentage of revenue or production from a mine without bearing the operator’s ongoing costs.
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