Royal Gold, Inc. (RGLD) To Go Ex-Dividend on October 4th

Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) declared a quarterly dividend on Tuesday, August 20th, Zacks reports. Shareholders of record on Friday, October 4th will be given a dividend of 0.40 per share by the basic materials company on Friday, October 18th. This represents a $1.60 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend is Friday, October 4th.

Royal Gold has increased its dividend payment by an average of 10.2% annually over the last three years and has increased its dividend annually for the last 24 consecutive years. Royal Gold has a dividend payout ratio of 25.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Royal Gold to earn $6.23 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 25.7%.

Royal Gold Stock Up 1.1 %

Royal Gold stock opened at $141.85 on Wednesday. The stock has a 50-day simple moving average of $137.75 and a 200 day simple moving average of $129.49. The stock has a market capitalization of $9.33 billion, a price-to-earnings ratio of 41.84, a P/E/G ratio of 1.11 and a beta of 0.90. Royal Gold has a 12-month low of $100.55 and a 12-month high of $147.65.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last released its quarterly earnings results on Wednesday, August 7th. The basic materials company reported $1.25 EPS for the quarter, beating the consensus estimate of $1.18 by $0.07. Royal Gold had a net margin of 39.15% and a return on equity of 8.74%. The business had revenue of $174.10 million for the quarter, compared to analysts’ expectations of $172.12 million. During the same period in the prior year, the firm earned $0.88 earnings per share. Royal Gold’s revenue was up 20.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Royal Gold will post 4.83 EPS for the current year.

Insider Activity at Royal Gold

In other Royal Gold news, CFO Paul Libner sold 1,500 shares of the stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $142.53, for a total value of $213,795.00. Following the sale, the chief financial officer now directly owns 18,657 shares in the company, valued at $2,659,182.21. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Royal Gold news, CFO Paul Libner sold 1,500 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $142.53, for a total value of $213,795.00. Following the completion of the transaction, the chief financial officer now directly owns 18,657 shares of the company’s stock, valued at $2,659,182.21. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Daniel Breeze sold 840 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $143.43, for a total value of $120,481.20. Following the sale, the senior vice president now directly owns 16,842 shares in the company, valued at approximately $2,415,648.06. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,355 shares of company stock worth $1,170,315. 0.52% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on RGLD shares. Raymond James lifted their target price on Royal Gold from $167.00 to $170.00 and gave the company an “outperformer” rating in a research note on Friday, August 9th. CIBC boosted their price objective on Royal Gold from $166.00 to $175.00 and gave the stock a “neutral” rating in a report on Wednesday, July 10th. Cibc World Mkts upgraded shares of Royal Gold to a “hold” rating in a research report on Wednesday, July 10th. Bank of America boosted their price target on shares of Royal Gold from $129.00 to $131.00 and gave the stock an “underperform” rating in a research note on Wednesday, June 26th. Finally, Jefferies Financial Group raised their price objective on shares of Royal Gold from $130.00 to $141.00 and gave the company a “hold” rating in a research note on Friday, July 12th. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Royal Gold has a consensus rating of “Hold” and an average price target of $157.00.

About Royal Gold

Royal Gold, Inc, together with its subsidiaries, acquires and manages precious metal streams, royalties, and related interests. The company engages in acquiring stream and royalty interests or to finance projects that are in production, development, or in the exploration stage in exchange for stream or royalty interests, which primarily consists of gold, silver, copper, nickel, zinc, lead, and other metals.