Shares of Royal Gold Inc. (NASDAQ:RGLD) dropped 1.9% during mid-day trading on Friday . The stock traded as low as $82.30 and last traded at $83.40, with a volume of 460,527 shares trading hands. The stock had previously closed at $85.05.

RGLD has been the subject of several analyst reports. Royal Bank Of Canada upped their price target on shares of Royal Gold from $44.00 to $60.00 in a research report on Tuesday, April 12th. National Bank Financial lowered shares of Royal Gold from an “outperform” rating to a “sector perform” rating in a research report on Friday, April 15th. Zacks Investment Research lowered shares of Royal Gold from a “buy” rating to a “hold” rating in a research report on Wednesday, April 20th. BMO Capital Markets upgraded shares of Royal Gold from a “market perform” rating to an “outperform” rating in a research report on Wednesday, July 6th. Finally, Dundee Securities lowered shares of Royal Gold from a “buy” rating to a “neutral” rating in a research report on Wednesday, April 20th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $67.21.

The firm’s 50-day moving average price is $77.41 and its 200 day moving average price is $57.00. The firm’s market capitalization is $5.45 billion.

The firm also recently announced a quarterly dividend, which was paid on Friday, July 15th. Stockholders of record on Friday, July 1st were issued a $0.23 dividend. The ex-dividend date was Wednesday, June 29th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.10%.

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

Several institutional investors have recently added to or reduced their stakes in RGLD. American International Group Inc. boosted its position in Royal Gold by 3.6% in the fourth quarter. American International Group Inc. now owns 146,791 shares of the company’s stock worth $5,354,000 after buying an additional 5,038 shares in the last quarter. RS Investment Management Co. LLC purchased a new position in Royal Gold during the fourth quarter worth approximately $4,622,000. Principal Financial Group Inc. boosted its position in Royal Gold by 1.8% in the fourth quarter. Principal Financial Group Inc. now owns 205,487 shares of the company’s stock worth $7,494,000 after buying an additional 3,699 shares in the last quarter. Liberty Mutual Group Asset Management Inc. boosted its position in 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 worth $1,533,000 after buying an additional 14,274 shares in the last quarter. Finally, Comerica Bank boosted its position in Royal Gold by 1.1% in the fourth quarter. Comerica Bank now owns 60,916 shares of the company’s stock worth $2,290,000 after buying an additional 683 shares in 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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.