Royal Gold Inc. (RGLD) Stock Price Up 1.7%
Royal Gold Inc. (NASDAQ:RGLD) shares rose 1.7% on Wednesday . The stock traded as high as $86.69 and last traded at $86.38, with a volume of 308,537 shares traded. The stock had previously closed at $84.96.
RGLD has been the topic of several research reports. Royal Bank Of Canada lifted their price objective 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 raised 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 analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company. Royal Gold presently has a consensus rating of “Buy” and an average target price of $70.71.
The company has a 50-day moving average price of $78.42 and a 200-day moving average price of $58.29. The company’s market capitalization is $5.61 billion.
Royal Gold (NASDAQ:RGLD) last announced its quarterly earnings results on Wednesday, August 10th. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by $0.01. The firm had revenue of $94.10 million for the quarter, compared to analysts’ expectations of $100.62 million. The firm’s revenue was up 27.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.23 earnings per share. Equities analysts expect that Royal Gold Inc. will post $1.10 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, July 15th. Stockholders of record on Friday, July 1st were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date of this dividend was Wednesday, June 29th.
In other news, VP William Holmes Heissenbuttel sold 1,250 shares of the stock in a transaction that occurred on Friday, May 13th. The shares were sold at an average price of $57.64, for a total value of $72,050.00. Following the transaction, the vice president now owns 66,898 shares in the company, valued at approximately $3,856,000.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Bruce Christopher Kirchhoff sold 3,333 shares of the stock in a transaction that occurred on 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 modified their holdings of RGLD. Principal Financial Group Inc. boosted its position in shares of Royal Gold by 1.8% in the fourth quarter. Principal Financial Group Inc. now owns 205,487 shares of the company’s stock valued at $7,494,000 after buying an additional 3,699 shares during the period. American International Group Inc. boosted its position in shares of Royal Gold by 3.6% in the fourth quarter. American International Group Inc. now owns 146,791 shares of the company’s stock valued at $5,354,000 after buying an additional 5,038 shares during the period. 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 period. Finally, RS Investment Management Co. LLC acquired a new position in shares of Royal Gold during the fourth quarter valued at $4,622,000.
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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