Royal Gold Inc. (NASDAQ:RGLD) shares dropped 4.8% on Wednesday . The stock traded as low as $78.65 and last traded at $78.80, with a volume of 514,617 shares traded. The stock had previously closed at $82.73.

RGLD has been the topic of several recent research reports. Macquarie initiated coverage on shares of Royal Gold in a research report on Wednesday, July 6th. They issued an “outperform” rating on the stock. FBR & Co restated a “hold” rating and set a $57.00 price objective (up from $55.00) on shares of Royal Gold in a research report on Thursday, April 28th. 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. Zacks Investment Research upgraded shares of Royal Gold from a “hold” rating to a “buy” rating and set a $79.00 price objective on the stock in a research report on Thursday, June 30th. Finally, Dundee Securities upgraded shares of Royal Gold from a “neutral” rating to a “buy” rating and raised their price objective for the company from $80.00 to $85.00 in a research report on Wednesday, July 6th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $70.85.

The firm’s market capitalization is $4.94 billion. The company has a 50-day moving average price of $82.15 and a 200 day moving average price of $62.09.

Royal Gold (NASDAQ:RGLD) last released its quarterly earnings data on Wednesday, August 10th. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.33 by $0.01. The firm had revenue of $94.10 million for the quarter, compared to analyst estimates of $100.62 million. During the same quarter in the prior year, the business earned $0.23 earnings per share. Royal Gold’s revenue was up 27.9% on a year-over-year basis. Equities analysts anticipate that Royal Gold Inc. will post $1.90 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.21%. The ex-dividend date of this dividend is Wednesday, September 28th.

In other news, VP Bruce Christopher Kirchhoff sold 3,333 shares of the company’s stock in a transaction on Wednesday, June 22nd. The shares were sold at an average price of $66.19, for a total value of $220,611.27. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

A hedge fund recently bought a new stake in Royal Gold stock. RS Investment Management Co. LLC bought a new stake in shares of Royal Gold Inc. (NASDAQ:RGLD) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm bought 126,730 shares of the company’s stock, valued at approximately $4,622,000. RS Investment Management Co. LLC owned approximately 0.20% of Royal Gold at the end of the most recent 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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