Royal Gold, Inc. (RGLD) Announces Earnings Results
Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) posted its quarterly earnings results on Wednesday. The basic materials company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.07, Briefing.com reports. The business had revenue of $112.50 million during the quarter, compared to analysts’ expectations of $112.43 million. Royal Gold had a net margin of 23.06% and a return on equity of 4.12%. The business’s quarterly revenue was down 4.7% on a year-over-year basis. During the same period last year, the company posted $0.46 earnings per share.
Shares of Royal Gold (NASDAQ RGLD) traded up $2.65 during midday trading on Friday, hitting $86.00. 434,053 shares of the stock were exchanged, compared to its average volume of 422,035. The stock has a market cap of $5.67 billion, a price-to-earnings ratio of 58.93 and a beta of 0.49.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 20th. Stockholders of record on Friday, October 6th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date of this dividend was Thursday, October 5th. Royal Gold’s dividend payout ratio is currently 62.34%.
A number of equities research analysts have commented on the stock. Royal Bank Of Canada set a $89.00 price target on shares of Royal Gold and gave the stock a “buy” rating in a report on Monday, October 23rd. Canaccord Genuity restated a “buy” rating and issued a $114.00 price target on shares of Royal Gold in a report on Sunday, October 22nd. BMO Capital Markets restated a “buy” rating and issued a $95.00 price target on shares of Royal Gold in a report on Wednesday, September 6th. FBR & Co raised their price target on shares of Royal Gold from $81.00 to $85.00 and gave the stock a “market perform” rating in a report on Wednesday, August 16th. Finally, National Bank Financial raised their price target on shares of Royal Gold from $82.50 to $92.50 and gave the stock a “sector perform” rating in a report on Thursday, August 10th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $93.32.
In related news, Chairman William M. Hayes sold 10,850 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $86.35, for a total transaction of $936,897.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Tony A. Jensen sold 3,523 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $87.03, for a total transaction of $306,606.69. The disclosure for this sale can be found here. Insiders have sold 80,216 shares of company stock valued at $7,058,788 over the last quarter. Corporate insiders own 1.12% 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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