Royal Gold Inc. (RGLD) Shares Up 6.3%
Shares of Royal Gold Inc. (NASDAQ:RGLD) shot up 6.3% during trading on Wednesday . The stock traded as high as $82.62 and last traded at $82.58, with a volume of 586,460 shares changing hands. The stock had previously closed at $77.68.
Several research firms have recently commented on RGLD. RBC Capital Markets reiterated an “outperform” rating on shares of Royal Gold in a research report on Tuesday. Zacks Investment Research lowered shares of Royal Gold from a “buy” rating to a “hold” rating in a research report on Wednesday, September 7th. FBR & Co increased their price target 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. Barclays PLC increased their price target 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. Finally, HSBC reiterated a “buy” rating on shares of Royal Gold in a research report on Thursday, July 7th. One research analyst has rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the company. Royal Gold presently has a consensus rating of “Buy” and a consensus price target of $72.29.
The firm has a 50-day moving average price of $80.24 and a 200-day moving average price of $66.69. The company’s market cap is $5.44 billion.
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Royal Gold (NASDAQ:RGLD) last released 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. Royal Gold had a positive return on equity of 2.81% and a negative net margin of 21.44%. The business earned $94.10 million during the quarter, compared to the consensus estimate of $100.62 million. During the same quarter in the previous year, the firm earned $0.23 earnings per share. The firm’s revenue for the quarter was up 27.9% compared to the same quarter last year. On average, analysts expect that Royal Gold Inc. will post $1.89 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Investors 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 1.18%. Royal Gold’s payout ratio is currently -77.97%.
Hedge funds have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Royal Gold by 14.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,669 shares of the company’s stock worth $120,000 after buying an additional 208 shares during the last quarter. Bellwether Investment Group LLC acquired a new stake in Royal Gold during the second quarter worth approximately $139,000. Meeder Asset Management Inc. increased its stake in Royal Gold by 199,100.0% in the second quarter. Meeder Asset Management Inc. now owns 1,992 shares of the company’s stock worth $144,000 after buying an additional 1,991 shares during the last quarter. Cantab Capital Partners LLP acquired a new stake in Royal Gold during the second quarter worth approximately $144,000. Finally, PNC Financial Services Group Inc. increased its stake in Royal Gold by 1.0% in the second quarter. PNC Financial Services Group Inc. now owns 2,184 shares of the company’s stock worth $157,000 after buying an additional 22 shares during the last quarter. Institutional investors and hedge funds own 69.01% of the company’s stock.
Royal Gold Company Profile
Royal Gold, Inc, together with its subsidiaries, is engaged in acquiring and managing precious metal streams, royalties and similar interests. The Company operates through two segments: Acquisition and Management of Stream Interests, and Acquisition and Management of Royalty Interests. Its assets are located in Canada, Chile, Dominican Republic, Mexico, the United States, Africa, Australia and Other.
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