Royal Gold (NASDAQ:RGLD) Sets New 1-Year High at $146.34

Shares of Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) reached a new 52-week high during trading on Tuesday . The stock traded as high as $146.34 and last traded at $145.53, with a volume of 29099 shares. The stock had previously closed at $143.78.

Analyst Ratings Changes

RGLD has been the subject of a number of recent research reports. BMO Capital Markets upped their price objective on shares of Royal Gold from $168.00 to $170.00 and gave the stock an “outperform” rating in a report on Wednesday, July 10th. Scotiabank boosted their target price on Royal Gold from $148.00 to $157.00 and gave the stock a “sector perform” rating in a report on Monday, August 19th. Bank of America increased their price target on Royal Gold from $129.00 to $131.00 and gave the company an “underperform” rating in a report on Wednesday, June 26th. Cibc World Mkts upgraded shares of Royal Gold to a “hold” rating in a research note on Wednesday, July 10th. Finally, StockNews.com upgraded shares of Royal Gold from a “hold” rating to a “buy” rating in a report on Thursday, September 19th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $157.00.

Royal Gold Stock Performance

The stock has a market cap of $9.66 billion, a price-to-earnings ratio of 42.41, a P/E/G ratio of 1.13 and a beta of 0.90. The business has a 50-day simple moving average of $137.22 and a two-hundred day simple moving average of $128.40.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last issued its quarterly earnings data on Wednesday, August 7th. The basic materials company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.18 by $0.07. Royal Gold had a return on equity of 8.74% and a net margin of 39.15%. The firm had revenue of $174.10 million for the quarter, compared to analyst estimates of $172.12 million. During the same period in the prior year, the firm posted $0.88 EPS. The company’s revenue for the quarter was up 20.9% on a year-over-year basis. On average, analysts expect that Royal Gold, Inc. will post 4.7 earnings per share for the current fiscal year.

Royal Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Friday, October 4th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $1.60 dividend on an annualized basis and a yield of 1.09%. Royal Gold’s dividend payout ratio is currently 47.20%.

Insider Activity

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

Institutional Investors Weigh In On Royal Gold

A number of hedge funds and other institutional investors have recently bought and sold shares of RGLD. NewEdge Advisors LLC raised its position in shares of Royal Gold by 13,938.5% during the 2nd quarter. NewEdge Advisors LLC now owns 15,302 shares of the basic materials company’s stock valued at $1,915,000 after buying an additional 15,193 shares in the last quarter. Creative Planning raised its stake in Royal Gold by 1.9% in the second quarter. Creative Planning now owns 8,190 shares of the basic materials company’s stock worth $1,025,000 after buying an additional 155 shares in the last quarter. Driehaus Capital Management LLC bought a new stake in Royal Gold during the 2nd quarter valued at approximately $15,559,000. Scientech Research LLC bought a new position in shares of Royal Gold in the 2nd quarter worth approximately $627,000. Finally, Lighthouse Investment Partners LLC bought a new stake in shares of Royal Gold during the second quarter valued at approximately $327,000. Institutional investors own 83.65% of the company’s stock.

Royal Gold Company Profile

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.