Investors Buy Shares of Royal Gold, Inc. (RGLD) on Weakness
Traders purchased shares of Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) on weakness during trading on Monday. $21.92 million flowed into the stock on the tick-up and $9.34 million flowed out of the stock on the tick-down, for a money net flow of $12.58 million into the stock. Of all equities tracked, Royal Gold had the 24th highest net in-flow for the day. Royal Gold traded down ($1.21) for the day and closed at $91.64
A number of equities analysts have recently commented on RGLD shares. Zacks Investment Research upgraded Royal Gold from a “hold” rating to a “buy” rating and set a $84.00 target price for the company in a report on Wednesday, June 21st. BidaskClub upgraded Royal Gold from a “hold” rating to a “buy” rating in a report on Saturday, July 8th. Royal Bank Of Canada reiterated a “buy” rating and issued a $83.00 target price on shares of Royal Gold in a report on Monday, June 5th. BMO Capital Markets reiterated a “buy” rating and issued a $95.00 target price on shares of Royal Gold in a report on Thursday, June 29th. Finally, Raymond James Financial, Inc. reiterated a “market perform” rating and issued a $88.00 target price on shares of Royal Gold in a report on Thursday, June 15th. One research analyst has rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Royal Gold currently has a consensus rating of “Buy” and an average price target of $91.95.
The firm has a market capitalization of $6.05 billion, a P/E ratio of 59.77 and a beta of 0.63. The stock’s 50-day moving average price is $88.13 and its 200-day moving average price is $77.22.
Royal Gold (NASDAQ:RGLD) (TSE:RGL) last posted its earnings results 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 business had revenue of $108.90 million for the quarter, compared to analyst estimates of $108.72 million. Royal Gold had a return on equity of 4.19% and a net margin of 23.03%. Royal Gold’s revenue was up 15.7% compared to the same quarter last year. During the same period last year, the business earned $0.32 EPS. On average, equities analysts expect that Royal Gold, Inc. will post $1.79 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 20th. Shareholders of record on Friday, October 6th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $0.96 annualized dividend and a yield of 1.04%. Royal Gold’s dividend payout ratio (DPR) is 61.54%.
In other news, CFO Stefan Wenger sold 1,500 shares of the firm’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $77.05, for a total transaction of $115,575.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Karli S. Anderson sold 2,262 shares of the firm’s stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $91.45, for a total value of $206,859.90. Following the transaction, the vice president now owns 20,081 shares of the company’s stock, valued at $1,836,407.45. The disclosure for this sale can be found here. In the last three months, insiders have sold 106,845 shares of company stock valued at $9,306,508. 1.37% of the stock is owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Arcadia Investment Management Corp MI purchased a new position in shares of Royal Gold during the second quarter worth $104,000. Mountain Capital Investment Advisors Inc purchased a new position in shares of Royal Gold during the second quarter worth $109,000. Almanack Investment Partners LLC. purchased a new position in shares of Royal Gold during the second quarter worth $109,000. MUFG Americas Holdings Corp purchased a new position in shares of Royal Gold during the second quarter worth $117,000. Finally, Meadow Creek Investment Management LLC boosted its position in shares of Royal Gold by 6.2% during 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 period. Institutional investors and hedge funds own 70.43% 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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