Royal Gold, Inc. (RGLD) Announces Quarterly Earnings Results, Misses Estimates By $0.02 EPS
Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) released its earnings results on Wednesday. The basic materials company reported $0.31 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by $0.02, Bloomberg Earnings reports. Royal Gold had a return on equity of 4.22% and a net margin of 23.93%. The company had revenue of $108.90 million for the quarter, compared to analyst estimates of $108.72 million. During the same period in the previous year, the firm earned $0.32 earnings per share. The company’s revenue for the quarter was up 15.7% compared to the same quarter last year.
Royal Gold (NASDAQ:RGLD) traded up 1.14% during mid-day trading on Thursday, reaching $85.91. The company’s stock had a trading volume of 147,927 shares. The stock’s 50-day moving average is $81.57 and its 200-day moving average is $74.20. The firm has a market capitalization of $5.61 billion, a PE ratio of 54.89 and a beta of 0.68. Royal Gold has a 12 month low of $60.21 and a 12 month high of $88.03.
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 21st. Shareholders of record on Friday, July 7th were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend was Wednesday, July 5th. Royal Gold’s dividend payout ratio is presently 61.15%.
RGLD has been the subject of several analyst reports. Zacks Investment Research raised Royal Gold from a “hold” rating to a “buy” rating and set a $88.00 target price for the company in a research note on Wednesday, July 12th. Macquarie cut Royal Gold from an “outperform” rating to a “neutral” rating in a research report on Wednesday, July 12th. BidaskClub raised Royal Gold from a “hold” rating to a “buy” rating in a research report on Saturday, July 8th. BMO Capital Markets reaffirmed a “buy” rating and set a $95.00 price objective on shares of Royal Gold in a research report on Thursday, June 29th. Finally, Barclays PLC reaffirmed an “overweight” rating and set a $84.00 price objective (up from $83.00) on shares of Royal Gold in a research report on Tuesday, June 6th. One analyst has rated the stock with a sell rating, five have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Royal Gold presently has an average rating of “Buy” and an average price target of $89.77.
In other Royal Gold news, CEO Tony A. Jensen sold 25,000 shares of Royal Gold stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $85.00, for a total value of $2,125,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Stefan Wenger sold 1,129 shares of Royal Gold stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $85.00, for a total value of $95,965.00. The disclosure for this sale can be found here. Insiders sold 57,629 shares of company stock valued at $4,736,660 over the last quarter. Insiders own 1.37% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. Arcadia Investment Management Corp MI bought a new position in shares of Royal Gold during the second quarter worth approximately $104,000. Meadow Creek Investment Management LLC increased its position in shares of Royal Gold by 6.2% in the first quarter. Meadow Creek Investment Management LLC now owns 1,648 shares of the basic materials company’s stock worth $115,000 after buying an additional 96 shares during the last quarter. MUFG Americas Holdings Corp bought a new position in shares of Royal Gold during the second quarter worth approximately $117,000. KBC Group NV bought a new position in shares of Royal Gold during the second quarter worth approximately $142,000. Finally, Neuburgh Advisers LLC increased its position in shares of Royal Gold by 6.2% in the first quarter. Neuburgh Advisers LLC now owns 2,266 shares of the basic materials company’s stock worth $159,000 after buying an additional 132 shares during the last quarter. Institutional investors own 70.57% of the company’s stock.
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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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