Royal Gold Inc. (RGLD) Sets New 12-Month High at $84.79
Royal Gold Inc. (NASDAQ:RGLD)’s share price hit a new 52-week high during trading on Friday . The company traded as high as $84.79 and last traded at $84.49, with a volume of 545,838 shares traded. The stock had previously closed at $82.14.
A number of research firms have commented on RGLD. National Bank Financial downgraded Royal Gold from an “outperform market weight” rating to a “sector perform market weight” rating in a research report on Wednesday, April 27th. Royal Bank Of Canada boosted their price objective on Royal Gold from $44.00 to $60.00 in a report on Tuesday, April 12th. FBR & Co boosted their price objective on Royal Gold from $55.00 to $57.00 and gave the company a “mkt perform” rating in a report on Tuesday, May 3rd. Zacks Investment Research raised Royal Gold from a “hold” rating to a “buy” rating and set a $68.00 target price for the company in a research note on Wednesday, May 4th. Finally, Dundee Securities cut Royal Gold from a “buy” rating to a “neutral” rating in a research note on Wednesday, April 20th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Royal Gold presently has a consensus rating of “Buy” and a consensus target price of $67.46.
The firm’s market capitalization is $5.52 billion. The stock has a 50-day moving average of $74.18 and a 200-day moving average of $54.84.
Royal Gold (NASDAQ:RGLD) last issued its earnings results on Wednesday, April 27th. The company reported $0.29 earnings per share 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 period last year, the business posted $0.38 earnings per share. The company’s quarterly revenue 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 year.
The company also recently announced a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Friday, July 1st were given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.09%. The ex-dividend date of this dividend was Wednesday, June 29th.
In other Royal Gold 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP William Holmes Heissenbuttel sold 1,250 shares of the firm’s stock in a transaction dated Friday, May 13th. The shares were 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 directly owns 66,898 shares in the company, valued at $3,856,000.72. The disclosure for this sale can be found here.
Other hedge funds and institutional investors recently added to or reduced their stakes in the company. Comerica Bank raised its position in Royal Gold by 1.1% in the fourth quarter. Comerica Bank now owns 60,916 shares of the company’s stock valued at $2,290,000 after buying an additional 683 shares during the period. Principal Financial Group Inc. raised 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 valued at $7,494,000 after buying an additional 3,699 shares during the period. Liberty Mutual Group Asset Management Inc. raised 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 valued at $1,533,000 after buying an additional 14,274 shares during the period. Finally, Beacon Financial Group raised its position in 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 period.
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.