Royal Gold Inc. (NASDAQ:RGLD)‘s stock had its “outperform” rating reaffirmed by stock analysts at RBC Capital Markets in a research note issued on Tuesday.
Other analysts also recently issued research reports about the company. Zacks Investment Research raised Royal Gold from a “hold” rating to a “buy” rating and set a $89.00 target price on the stock in a research report on Friday, July 8th. HSBC reaffirmed a “buy” rating on shares of Royal Gold in a research report on Thursday, July 7th. Dundee Securities raised Royal Gold from a “neutral” rating to a “buy” rating and lifted their target price for the company from $80.00 to $85.00 in a research report on Wednesday, July 6th. FBR & Co lifted their target price on Royal Gold from $57.00 to $71.00 and gave the company a “market perform” rating in a research report on Wednesday, July 6th. Finally, Macquarie started coverage on Royal Gold in a research report on Wednesday, July 6th. They issued an “outperform” rating on the stock. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $72.29.
Shares of Royal Gold (NASDAQ:RGLD) opened at 85.19 on Tuesday. Royal Gold has a 12 month low of $24.68 and a 12 month high of $87.74. The firm has a 50 day moving average price of $80.24 and a 200-day moving average price of $66.83. The company’s market cap is $5.56 billion.
Royal Gold (NASDAQ:RGLD) last released its quarterly earnings results on Wednesday, August 10th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by $0.01. Royal Gold had a negative net margin of 21.44% and a positive return on equity of 2.81%. The firm earned $94.10 million during the quarter, compared to analyst estimates of $100.62 million. During the same period in the prior year, the business earned $0.23 EPS. The business’s revenue for the quarter was up 27.9% compared to the same quarter last year. Analysts anticipate that Royal Gold will post $1.88 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.08%. The ex-dividend date is Wednesday, September 28th. Royal Gold’s dividend payout ratio (DPR) is currently -77.97%.
Several large investors have recently modified their holdings of RGLD. Vanguard Group Inc. boosted its stake in shares of Royal Gold by 3.0% in the second quarter. Vanguard Group Inc. now owns 5,145,821 shares of the company’s stock valued at $370,602,000 after buying an additional 151,587 shares during the period. State Street Corp boosted its stake in shares of Royal Gold by 1.7% in the second quarter. State Street Corp now owns 2,154,782 shares of the company’s stock valued at $155,181,000 after buying an additional 35,999 shares during the period. Capital World Investors boosted its stake in shares of Royal Gold by 1.6% in the second quarter. Capital World Investors now owns 2,015,000 shares of the company’s stock valued at $145,120,000 after buying an additional 31,250 shares during the period. BlackRock Institutional Trust Company N.A. boosted its stake in shares of Royal Gold by 1.0% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,935,414 shares of the company’s stock valued at $139,389,000 after buying an additional 19,744 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Royal Gold by 4.7% in the second quarter. Dimensional Fund Advisors LP now owns 915,195 shares of the company’s stock valued at $65,906,000 after buying an additional 41,099 shares during the period. Institutional investors and hedge funds own 69.01% of the company’s stock.
About Royal Gold
Royal Gold, Inc, together with its subsidiaries, is engaged in acquiring and managing precious metal streams, royalties and similar interests. The Company operates through two segments: Acquisition and Management of Stream Interests, and Acquisition and Management of Royalty Interests. Its assets are located in Canada, Chile, Dominican Republic, Mexico, the United States, Africa, Australia and Other.
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