Insider Selling: Royal Gold, Inc. (RGLD) CEO Sells $306,606.69 in Stock
Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) CEO Tony A. Jensen sold 3,523 shares of the company’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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Royal Gold, Inc. (RGLD) opened at 88.74 on Monday. Royal Gold, Inc. has a 52-week low of $60.21 and a 52-week high of $89.29. The firm has a market cap of $5.80 billion, a price-to-earnings ratio of 57.25 and a beta of 0.68. The company’s 50 day moving average is $84.62 and its 200 day moving average is $75.56.
Royal Gold (NASDAQ:RGLD) (TSE:RGL) last released its quarterly earnings data on Wednesday, August 9th. The basic materials company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by $0.02. The company had revenue of $108.90 million for the quarter, compared to the consensus estimate of $108.72 million. Royal Gold had a net margin of 23.03% and a return on equity of 4.19%. The company’s quarterly revenue was up 15.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.32 EPS. Analysts anticipate that Royal Gold, Inc. will post $1.80 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 20th. Stockholders of record on Friday, October 6th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.08%. The ex-dividend date is Thursday, October 5th. Royal Gold’s payout ratio is currently 61.54%.
A number of equities research analysts have recently issued reports on the stock. FBR & Co upped their target price on shares of Royal Gold from $81.00 to $85.00 and gave the company a “market perform” rating in a report on Wednesday, August 16th. Canaccord Genuity reissued a “buy” rating and issued a $105.00 price target (up from $99.00) on shares of Royal Gold in a report on Thursday, August 10th. National Bank Financial increased their price target on shares of Royal Gold from $82.50 to $92.50 and gave the company a “sector perform” rating in a report on Thursday, August 10th. Zacks Investment Research cut shares of Royal Gold from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Finally, BidaskClub raised shares of Royal Gold from a “buy” rating to a “strong-buy” rating in a report on Tuesday, July 25th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $91.95.
Several large investors have recently added to or reduced their stakes in the stock. Arcadia Investment Management Corp MI bought a new stake in Royal Gold during the second quarter valued at about $104,000. Almanack Investment Partners LLC. bought a new stake in Royal Gold during the second quarter valued at about $109,000. Mountain Capital Investment Advisors Inc bought a new stake in Royal Gold during the second quarter valued at about $109,000. Meadow Creek Investment Management LLC boosted its stake in 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 valued at $115,000 after buying an additional 96 shares during the last quarter. Finally, MUFG Americas Holdings Corp bought a new stake in Royal Gold during the second quarter valued at about $117,000. Hedge funds and other institutional investors own 70.43% of the company’s stock.
About Royal Gold
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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