Royal Gold Inc. (RGLD) Shares Gap Up to $75.78
Royal Gold Inc. (NASDAQ:RGLD) shares gapped up before the market opened on Friday . The stock had previously closed at $75.52, but opened at $75.78. Royal Gold shares last traded at $77.60, with a volume of 350,855 shares changing hands.
A number of research analysts have issued reports on the stock. FBR & Co boosted their price objective on shares of Royal Gold from $78.00 to $80.00 and gave the company a “mkt perform” rating in a research report on Friday, August 12th. HSBC reissued a “buy” rating on shares of Royal Gold in a research report on Thursday, July 7th. Raymond James Financial Inc. raised shares of Royal Gold from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $72.00 to $85.00 in a research report on Wednesday, July 6th. Royal Bank Of Canada reissued an “outperform” rating and set a $84.00 price objective on shares of Royal Gold in a research report on Monday, June 13th. Finally, Barclays PLC boosted their price objective on shares of Royal Gold from $62.00 to $99.00 and gave the company an “overweight” rating in a research report on Monday, August 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $70.85.
The company’s market cap is $5.09 billion. The stock’s 50-day moving average is $81.14 and its 200-day moving average is $63.64.
Royal Gold (NASDAQ:RGLD) last released its earnings results on Wednesday, August 10th. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by $0.01. During the same quarter last year, the firm posted $0.23 EPS. The business earned $94.10 million during the quarter, compared to analyst estimates of $100.62 million. The firm’s revenue for the quarter was up 27.9% on a year-over-year basis. On average, equities analysts forecast that Royal Gold Inc. will post $1.90 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.92 dividend on an annualized basis and a yield of 1.18%.
In other Royal Gold news, VP Bruce Christopher Kirchhoff sold 3,333 shares of the stock in a transaction on Wednesday, June 22nd. The stock was sold at an average price of $66.19, for a total value of $220,611.27. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.
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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