Royal Gold Inc. (RGLD) Reaches New 12-Month High at $84.79
Royal Gold Inc. (NASDAQ:RGLD) hit a new 52-week high on Friday . The stock 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.
RGLD has been the topic of several research reports. National Bank Financial reduced their price target on shares of Royal Gold from $60.00 to $58.00 in a research report on Thursday, April 7th. Dundee Securities boosted their price target on shares of Royal Gold from $54.00 to $58.00 in a research report on Thursday, April 7th. Royal Bank Of Canada boosted their price target on shares of Royal Gold from $44.00 to $60.00 in a research report on Tuesday, April 12th. CIBC boosted their price target on shares of Royal Gold from $49.00 to $52.00 in a research report on Friday, April 8th. Finally, Zacks Investment Research upgraded shares of Royal Gold from a “hold” rating to a “buy” rating and set a $68.00 price target on the stock in a research report on Wednesday, May 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the stock. Royal Gold currently has a consensus rating of “Buy” and a consensus price target of $67.46.
The firm’s market capitalization is $5.52 billion. The firm has a 50 day moving average price of $74.69 and a 200-day moving average price of $55.21.
Royal Gold (NASDAQ:RGLD) last announced its quarterly earnings data on Wednesday, April 27th. The company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates 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 quarter in the previous year, the business posted $0.38 EPS. The company’s revenue for the quarter was up 26.2% on a year-over-year basis. On average, equities research analysts anticipate that Royal Gold Inc. will post $1.03 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 15th. Shareholders of record on Friday, July 1st were issued a $0.23 dividend. The ex-dividend date of this dividend was Wednesday, June 29th. This represents a $0.92 dividend on an annualized basis and a yield of 1.09%.
In other news, VP Bruce Christopher Kirchhoff sold 3,333 shares of Royal Gold stock in a transaction on Wednesday, June 22nd. The stock was sold at an average price of $66.19, for a total transaction of $220,611.27. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP William Holmes Heissenbuttel sold 1,250 shares of Royal Gold stock in a transaction on Friday, May 13th. The stock was 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 disclosure for this sale can be found here.
Several hedge funds and institutional investors recently bought and sold shares of the company. 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 in the last quarter. 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 in the last quarter. 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 in the last quarter. Finally, 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 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.
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