Royal Gold (NASDAQ:RGLD – Free Report) (TSE:RGL) had its price objective upped by TD from $289.00 to $315.00 in a report issued on Thursday morning,BayStreet reports. They currently have a buy rating on the basic materials company’s stock.
A number of other brokerages also recently commented on RGLD. Scotiabank reissued a “sector perform” rating and set a $310.00 price objective on shares of Royal Gold in a research report on Tuesday, July 14th. Jefferies Financial Group reduced their target price on shares of Royal Gold from $318.00 to $311.00 and set a “buy” rating on the stock in a report on Monday, July 6th. UBS Group lifted their price target on shares of Royal Gold from $280.00 to $285.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Royal Bank Of Canada lowered their price target on shares of Royal Gold from $310.00 to $305.00 and set an “outperform” rating for the company in a report on Thursday, July 9th. Finally, Weiss Ratings downgraded shares of Royal Gold from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, August 4th. Eight investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $287.82.
Royal Gold Trading Down 0.7%
Royal Gold (NASDAQ:RGLD – Get Free Report) (TSE:RGL) last issued its quarterly earnings results on Wednesday, August 5th. The basic materials company reported $2.56 earnings per share for the quarter, topping the consensus estimate of $2.55 by $0.01. The company had revenue of $468.98 million for the quarter, compared to the consensus estimate of $458.85 million. Royal Gold had a return on equity of 12.06% and a net margin of 47.74%.Royal Gold’s revenue was up 114.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.81 EPS. Sell-side analysts anticipate that Royal Gold will post 10.26 earnings per share for the current fiscal year.
Royal Gold Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Friday, October 2nd will be issued a $0.475 dividend. The ex-dividend date is Friday, October 2nd. This represents a $1.90 dividend on an annualized basis and a dividend yield of 0.8%. Royal Gold’s dividend payout ratio is presently 20.74%.
Insider Buying and Selling at Royal Gold
In related news, SVP Randy Shefman sold 500 shares of the business’s stock in a transaction that occurred on Friday, August 28th. The stock was 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 owned 8,082 shares in the company, valued at $2,123,949.60. The trade was a 5.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.35% of the company’s stock.
Institutional Trading of Royal Gold
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of Nova Scotia raised its holdings in shares of Royal Gold by 2.9% during the first quarter. Bank of Nova Scotia now owns 1,526 shares of the basic materials company’s stock valued at $388,000 after buying an additional 43 shares during the last quarter. Apollon Wealth Management LLC grew its holdings in Royal Gold by 1.5% in the 1st quarter. Apollon Wealth Management LLC now owns 2,905 shares of the basic materials company’s stock worth $739,000 after buying an additional 44 shares in the last quarter. Hilltop Holdings Inc. grew its holdings in Royal Gold by 0.6% in the 1st quarter. Hilltop Holdings Inc. now owns 7,432 shares of the basic materials company’s stock worth $1,891,000 after buying an additional 46 shares in the last quarter. Compound Planning Inc. increased its position in Royal Gold by 3.3% in the 1st quarter. Compound Planning Inc. now owns 1,493 shares of the basic materials company’s stock valued at $380,000 after acquiring an additional 47 shares during the period. Finally, Strs Ohio increased its position in Royal Gold by 0.6% in the 1st quarter. Strs Ohio now owns 8,611 shares of the basic materials company’s stock valued at $2,191,000 after acquiring an additional 48 shares during the period. Institutional investors and hedge funds own 83.65% of the company’s stock.
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.
Read More
- Five stocks we like better than Royal Gold
- Rocket Lab Tackles a Supply Chain Bottleneck as the Stock Hunts for a Bottom. Time to Buy?
- Optical Cable Corporation Is Starting to Get the Market’s Attention
- Oil Above $100 Is Creating a New Opportunity Beyond the Major Producers
- Is Nike’s Index Demotion a Warning or a Buying Opportunity?
Receive News & Ratings for Royal Gold Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Royal Gold and related companies with MarketBeat.com's FREE daily email newsletter.
