Royal Gold, Inc (NASDAQ:RGLD) (TSE:RGL) – Investment analysts at FBR & Co raised their FY2017 EPS estimates for Royal Gold in a report issued on Monday. FBR & Co analyst L. Pipes now forecasts that the basic materials company will post earnings per share of $1.54 for the year, up from their prior estimate of $1.48. FBR & Co currently has a “Outperform” rating and a $81.00 target price on the stock.
Royal Gold (NASDAQ:RGLD) last announced its quarterly earnings results on Wednesday, May 10th. The basic materials company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by $0.02. The business had revenue of $107 million for the quarter, compared to analyst estimates of $105.14 million. Royal Gold had a net margin of 2.58% and a return on equity of 4.03%. The company’s quarterly revenue was up 14.4% on a year-over-year basis. During the same period last year, the firm earned $0.29 earnings per share.
A number of other brokerages have also recently issued reports on RGLD. Zacks Investment Research raised Royal Gold from a “sell” rating to a “hold” rating in a research report on Wednesday. Scotiabank raised their target price on Royal Gold from $81.00 to $115.00 and gave the stock a “sector perform” rating in a research report on Friday, May 12th. National Bank Financial cut Royal Gold from an “outperform” rating to a “sector perform” rating and raised their target price for the stock from $80.00 to $82.50 in a research report on Thursday, April 20th. Barclays PLC reaffirmed an “overweight” rating and issued a $83.00 target price (up from $82.00) on shares of Royal Gold in a research report on Saturday, April 22nd. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $95.00 target price on shares of Royal Gold in a research report on Monday, February 6th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $88.21.
Royal Gold (NASDAQ:RGLD) opened at 78.55 on Wednesday. The firm’s 50-day moving average is $71.86 and its 200-day moving average is $68.93. The firm has a market capitalization of $5.12 billion, a PE ratio of 50.19 and a beta of 0.53. Royal Gold has a 12 month low of $51.76 and a 12 month high of $87.74.
The firm also recently announced a quarterly dividend, which was paid on Friday, April 21st. Stockholders of record on Friday, April 7th were paid a $0.24 dividend. The ex-dividend date of this dividend was Wednesday, April 5th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.22%. Royal Gold’s dividend payout ratio (DPR) is presently 564.71%.
In other news, VP William Holmes Heissenbuttel sold 10,067 shares of the firm’s stock in a transaction on Monday, March 6th. The stock was sold at an average price of $63.26, for a total value of $636,838.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Stefan Wenger sold 2,000 shares of the firm’s stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $70.10, for a total value of $140,200.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,567 shares of company stock valued at $1,034,938. 1.37% of the stock is currently owned by corporate insiders.
Hedge funds have recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Royal Gold during the fourth quarter worth approximately $172,371,000. Van ECK Associates Corp raised its stake in shares of Royal Gold by 15.8% in the first quarter. Van ECK Associates Corp now owns 4,901,086 shares of the basic materials company’s stock worth $343,321,000 after buying an additional 667,497 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Royal Gold by 6.5% in the first quarter. Vanguard Group Inc. now owns 5,778,135 shares of the basic materials company’s stock worth $404,759,000 after buying an additional 355,155 shares during the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of Royal Gold during the fourth quarter worth approximately $14,889,000. Finally, State Street Corp raised its stake in shares of Royal Gold by 8.8% in the fourth quarter. State Street Corp now owns 2,246,159 shares of the basic materials company’s stock worth $142,290,000 after buying an additional 181,525 shares during the last quarter. Hedge funds and other institutional investors own 68.94% 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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