Shares of Royal Gold Inc. (NASDAQ:RGLD) dropped 1.9% during trading on Friday . The stock traded as low as $79.84 and last traded at $80.07, with a volume of 437,628 shares. The stock had previously closed at $81.59.

RGLD has been the subject of several research analyst reports. Zacks Investment Research raised Royal Gold from a “hold” rating to a “strong-buy” rating and set a $59.00 price objective for the company in a report on Wednesday, April 6th. National Bank Financial cut their price objective on Royal Gold from $60.00 to $58.00 in a report on Thursday, April 7th. FBR & Co reaffirmed a “hold” rating on shares of Royal Gold in a report on Wednesday, April 6th. Dundee Securities lifted their price objective on Royal Gold from $54.00 to $58.00 in a report on Thursday, April 7th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Royal Gold in a report on Sunday, May 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $68.06.

The stock has a 50 day moving average of $69.20 and a 200 day moving average of $52.17. The stock’s market cap is $5.26 billion.

Royal Gold (NASDAQ:RGLD) last announced its quarterly earnings data on Wednesday, April 27th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.02. The firm earned $93.50 million during the quarter, compared to analysts’ expectations of $97.26 million. During the same quarter in the previous year, the business earned $0.38 earnings per share. The company’s revenue for the quarter was up 26.2% compared to the same quarter last year. Equities analysts predict that Royal Gold Inc. will post $1.10 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 15th. Stockholders of record on Friday, July 1st were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.14%. The ex-dividend date was Wednesday, June 29th.

In other news, VP Bruce Christopher Kirchhoff sold 3,333 shares of the firm’s stock in a transaction dated Wednesday, June 22nd. The stock was sold at an average price of $66.19, for a total value of $220,611.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP William Holmes Heissenbuttel sold 1,250 shares of the firm’s stock in a transaction dated Friday, May 13th. The stock was sold at an average price of $57.64, for a total value of $72,050.00. Following the completion of the transaction, the vice president now owns 66,898 shares of the company’s stock, valued at $3,856,000.72. The disclosure for this sale can be found here.

Several hedge funds and institutional investors have recently made changes to their positions in the company. OppenheimerFunds Inc. boosted its position in shares of Royal Gold by 142.9% in the fourth quarter. OppenheimerFunds Inc. now owns 850,045 shares of the company’s stock valued at $31,002,000 after buying an additional 500,045 shares during the last quarter. Russell Frank Co boosted its position in shares of Royal Gold by 2,346.5% in the fourth quarter. Russell Frank Co now owns 207,907 shares of the company’s stock valued at $7,470,000 after buying an additional 199,409 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Royal Gold by 22.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 620,394 shares of the company’s stock valued at $22,623,000 after buying an additional 112,996 shares during the last quarter. Beacon Financial Group boosted its position in shares of Royal Gold by 66.8% in the fourth quarter. Beacon Financial Group now owns 68,006 shares of the company’s stock valued at $2,443,000 after buying an additional 27,240 shares during the last quarter. Finally, Liberty Mutual Group Asset Management Inc. boosted its position in shares of Royal Gold by 51.5% in the fourth quarter. Liberty Mutual Group Asset Management Inc. now owns 42,011 shares of the company’s stock valued at $1,533,000 after buying an additional 14,274 shares during the last quarter.

Royal Gold, Inc (Royal Gold), together with its subsidiaries, is engaged in the business of acquiring and managing precious metals royalties, metal streams and similar interests. The Company operates through two business segments: acquisition and management of royalty interests and acquisition and management of stream interests.

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