Investors Buy Shares of Royal Gold Inc. (RGLD) on Weakness
Investors bought shares of Royal Gold Inc. (NASDAQ:RGLD) on weakness during trading hours on Friday. $27.23 million flowed into the stock on the tick-up and $10.91 million flowed out of the stock on the tick-down, for a money net flow of $16.32 million into the stock. Of all stocks tracked, Royal Gold had the 26th highest net in-flow for the day. Royal Gold traded down ($1.11) for the day and closed at $83.25
A number of brokerages recently issued reports on RGLD. Royal Bank Of Canada reissued an “outperform” rating on shares of Royal Gold in a report on Sunday, May 1st. BMO Capital Markets raised shares of Royal Gold from a “market perform” rating to an “outperform” rating in a report on Wednesday, July 6th. Zacks Investment Research raised shares of Royal Gold from a “hold” rating to a “buy” rating and set a $89.00 price target on the stock in a report on Friday, July 8th. Macquarie began coverage on shares of Royal Gold in a report on Wednesday, July 6th. They set an “outperform” rating on the stock. Finally, FBR & Co reissued a “hold” rating and set a $57.00 price target (up from $55.00) on shares of Royal Gold in a report on Thursday, April 28th. One analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $70.85.
The company’s 50 day moving average price is $81.89 and its 200 day moving average price is $61.00. The firm’s market capitalization is $5.43 billion.
Royal Gold (NASDAQ:RGLD) last announced its earnings results on Wednesday, August 10th. The company reported $0.32 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 analyst estimates of $100.62 million. Royal Gold’s revenue for the quarter was up 27.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.23 earnings per share. On average, equities analysts anticipate that Royal Gold Inc. will post $1.90 EPS for the current fiscal year.
The firm also recently announced 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. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.11%.
In other news, VP Bruce Christopher Kirchhoff sold 3,333 shares of Royal Gold 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
An institutional investor recently raised its position in Royal Gold stock. American International Group Inc. boosted its position in shares of Royal Gold Inc. (NASDAQ:RGLD) by 3.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 146,791 shares of the company’s stock after buying an additional 5,038 shares during the period. American International Group Inc. owned 0.24% of Royal Gold worth $5,354,000 as of its most recent filing with the SEC.
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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