Royal Gold Inc. (NASDAQ:RGLD) declared a quarterly dividend on Wednesday, August 17th. Stockholders of record on Friday, September 30th will be paid a dividend of 0.23 per share on Friday, October 14th. This represents a $0.92 annualized dividend and a dividend yield of 1.15%. The ex-dividend date of this dividend is Wednesday, September 28th.
Royal Gold (NASDAQ:RGLD) opened at 80.07 on Tuesday. The company’s market capitalization is $5.23 billion. Royal Gold has a 52 week low of $24.68 and a 52 week high of $87.74. The stock’s 50 day moving average price is $80.00 and its 200 day moving average price is $67.67.
Royal Gold (NASDAQ:RGLD) last announced its earnings results on Wednesday, August 10th. The company reported $0.32 EPS for the quarter, missing the 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 business had revenue of $94.10 million for the quarter, compared to the consensus estimate of $100.62 million. During the same quarter in the previous year, the company earned $0.23 EPS. The firm’s revenue for the quarter was up 27.9% on a year-over-year basis. Analysts anticipate that Royal Gold will post $1.88 earnings per share for the current year.
Several hedge funds have recently modified their holdings of the stock. IndexIQ Advisors LLC increased its stake in shares of Royal Gold by 41.4% in the second quarter. IndexIQ Advisors LLC now owns 2,457 shares of the company’s stock worth $177,000 after buying an additional 719 shares during the last quarter. Comerica Bank raised its position in shares of Royal Gold by 1.8% in the second quarter. Comerica Bank now owns 61,285 shares of the company’s stock valued at $5,207,000 after buying an additional 1,091 shares during the period. Paloma Partners Management Co raised its position in shares of Royal Gold by 18.5% in the second quarter. Paloma Partners Management Co now owns 12,172 shares of the company’s stock valued at $877,000 after buying an additional 1,902 shares during the period. Cantab Capital Partners LLP purchased a new position in shares of Royal Gold during the second quarter valued at $144,000. Finally, Alliancebernstein L.P. raised its position in shares of Royal Gold by 4.3% in the second quarter. Alliancebernstein L.P. now owns 48,571 shares of the company’s stock valued at $3,498,000 after buying an additional 2,010 shares during the period. 69.01% of the stock is owned by institutional investors.
RGLD has been the topic of several recent research reports. Zacks Investment Research upgraded Royal Gold from a “hold” rating to a “buy” rating and set a $89.00 price target on the stock in a report on Friday, July 8th. HSBC reiterated a “buy” rating on shares of Royal Gold in a report on Thursday, July 7th. Dundee Securities upgraded Royal Gold from a “neutral” rating to a “buy” rating and increased their price target for the stock from $80.00 to $85.00 in a report on Wednesday, July 6th. FBR & Co set a $80.00 price target on Royal Gold and gave the stock a “hold” rating in a report on Tuesday, September 20th. Finally, Macquarie initiated coverage on Royal Gold in a report on Wednesday, July 6th. They issued an “outperform” rating on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $72.29.
Royal Gold Company Profile
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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