Traders Buy Shares of Royal Gold Inc. (RGLD) on Weakness
Traders purchased 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 equities 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 research analysts have recently weighed in on RGLD shares. Dundee Securities upgraded Royal Gold from a “neutral” rating to a “buy” rating and raised their target price for the company from $80.00 to $85.00 in a report on Wednesday, July 6th. Zacks Investment Research upgraded Royal Gold from a “hold” rating to a “buy” rating and set a $68.00 target price on the stock in a report on Wednesday, May 4th. HSBC restated a “buy” rating on shares of Royal Gold in a report on Thursday, July 7th. Finally, FBR & Co restated a “hold” rating and issued a $57.00 target price (up previously from $55.00) on shares of Royal Gold in a report on Thursday, April 28th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $70.85.
The stock’s market cap is $5.43 billion. The stock’s 50 day moving average is $81.89 and its 200 day moving average is $61.00.
Royal Gold (NASDAQ:RGLD) last posted 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. The business earned $94.10 million during the quarter, compared to analysts’ expectations of $100.62 million. During the same quarter last year, the business earned $0.23 EPS. The business’s revenue for the quarter was up 27.9% on a year-over-year basis. Equities research analysts predict that Royal Gold Inc. will post $1.90 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be issued a dividend of $0.23 per share. The ex-dividend date is Wednesday, September 28th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.11%.
In related news, VP Bruce Christopher Kirchhoff sold 3,333 shares of the company’s stock in a transaction that occurred 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 filing with the SEC, which is accessible through this hyperlink.
A hedge fund recently raised its stake in Royal Gold stock. American International Group Inc. boosted its stake in shares of Royal Gold Inc. (NASDAQ:RGLD) by 3.6% during the fourth quarter, according to its most recent filing with the 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 approximately 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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