Royal Gold, Inc. (NASDAQ:RGLD – Get Rating) (TSE:RGL) declared a quarterly dividend on Tuesday, November 15th, Zacks reports. Stockholders of record on Friday, January 6th will be paid a dividend of 0.375 per share by the basic materials company on Friday, January 20th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date is Thursday, January 5th. This is a boost from Royal Gold’s previous quarterly dividend of $0.35.
Royal Gold has increased its dividend payment by an average of 7.2% annually over the last three years and has increased its dividend annually for the last 20 consecutive years. Royal Gold has a dividend payout ratio of 34.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Royal Gold to earn $3.59 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 39.0%.
Royal Gold Stock Performance
RGLD stock traded down $2.76 during trading on Thursday, reaching $102.95. 279,022 shares of the stock were exchanged, compared to its average volume of 540,515. The stock has a 50 day simple moving average of $95.21 and a 200-day simple moving average of $103.57. The company has a current ratio of 2.82, a quick ratio of 2.61 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $6.76 billion, a P/E ratio of 26.91, a price-to-earnings-growth ratio of 3.24 and a beta of 0.59. Royal Gold has a twelve month low of $84.54 and a twelve month high of $147.70.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on RGLD. StockNews.com cut shares of Royal Gold from a “hold” rating to a “sell” rating in a research note on Friday, November 4th. National Bankshares cut their price target on shares of Royal Gold from $125.00 to $120.00 and set a “sector perform” rating for the company in a research note on Friday, November 4th. Barclays decreased their price objective on Royal Gold from $110.00 to $108.00 and set an “equal weight” rating on the stock in a report on Monday, October 17th. National Bank Financial cut their target price on Royal Gold from $165.00 to $150.00 in a research report on Thursday, July 21st. Finally, Eight Capital lowered their price target on Royal Gold to $143.00 in a research report on Thursday, October 27th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Royal Gold presently has a consensus rating of “Hold” and an average target price of $135.64.
Institutional Trading of Royal Gold
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State Street Corp grew its position in shares of Royal Gold by 66.2% during the 1st quarter. State Street Corp now owns 4,153,139 shares of the basic materials company’s stock worth $588,192,000 after buying an additional 1,654,360 shares during the period. Clearbridge Investments LLC acquired a new stake in Royal Gold during the 1st quarter worth $56,762,000. First Trust Advisors LP raised its position in shares of Royal Gold by 58.9% during the 1st quarter. First Trust Advisors LP now owns 382,274 shares of the basic materials company’s stock valued at $54,007,000 after acquiring an additional 141,661 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Royal Gold by 54.0% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 179,746 shares of the basic materials company’s stock valued at $19,193,000 after purchasing an additional 62,991 shares during the period. Finally, Baird Financial Group Inc. boosted its position in shares of Royal Gold by 182.6% in the 3rd quarter. Baird Financial Group Inc. now owns 92,879 shares of the basic materials company’s stock worth $8,714,000 after purchasing an additional 60,009 shares during the last quarter. 78.04% of the stock is currently owned by institutional investors and hedge funds.
About Royal Gold
Royal Gold, Inc, together with its subsidiaries, acquires and manages precious metal streams, royalties, and related interests. It focuses on acquiring stream and royalty interests or to finance projects that are in production or in development stage in exchange for stream or royalty interests, which primarily consists of gold, silver, copper, nickel, zinc, lead, and cobalt.
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Read More:Royal Gold, Inc. (NASDAQ:RGLD) Announces Dividend Increase – $0.38 Per Share
2022-11-17 22:51:27
