Royal Gold, Inc. (RGLD) to Issue Quarterly Dividend of $0.38 on July 21st

Royal Gold, Inc. (NASDAQ:RGLD – Get Rating) (TSE:RGL) announced a quarterly dividend on Wednesday, May 24th, Zacks reports. Investors of record on Friday, July 7th will be paid a dividend of 0.375 per share by the basic materials company on Friday, July 21st. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date is Thursday, July 6th.

Royal Gold has raised its dividend payment by an average of 9.9% annually over the last three years and has raised its dividend annually for the last 21 consecutive years. Royal Gold has a dividend payout ratio of 35.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Royal Gold to earn $4.37 per share next year, which means the company should continue to be able to cover its $1.50 annual dividend with an expected future payout ratio of 34.3%.

Royal Gold Stock Performance

Shares of RGLD opened at $123.83 on Friday. The company has a current ratio of 3.44, a quick ratio of 3.23 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $8.12 billion, a price-to-earnings ratio of 34.30, a PEG ratio of 3.30 and a beta of 0.65. The stock has a 50 day moving average of $133.31 and a 200 day moving average of $122.44. Royal Gold has a 12 month low of $84.54 and a 12 month high of $147.82.

Royal Gold (NASDAQ:RGLD – Get Rating) (TSE:RGL) last issued its quarterly earnings results on Wednesday, May 3rd. The basic materials company reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.02. Royal Gold had a return on equity of 8.18% and a net margin of 38.80%. The company had revenue of $170.40 million during the quarter, compared to the consensus estimate of $162.77 million. During the same period last year, the business posted $0.99 earnings per share. Royal Gold’s revenue was up 4.9% on a year-over-year basis. As a group, sell-side analysts forecast that Royal Gold will post 3.79 earnings per share for the current year.

Insider Activity

In related news, VP Daniel Breeze sold 2,095 shares of the firm’s stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $141.92, for a total value of $297,322.40. Following the sale, the vice president now directly owns 11,786 shares of the company’s stock, valued at $1,672,669.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director William M. Hayes sold 2,140 shares of the stock in a transaction on Monday, May 8th. The shares were sold at an average price of $142.50, for a total value of $304,950.00. Following the transaction, the director now owns 9,832 shares of the company’s stock, valued at approximately $1,401,060. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Daniel Breeze sold 2,095 shares of the stock in a transaction on Monday, May 8th. The stock was sold at an average price of $141.92, for a total transaction of $297,322.40. Following the completion of the transaction, the vice president now directly owns 11,786 shares in the company, valued at approximately $1,672,669.12. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,895 shares of company stock worth $1,972,930. 0.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Royal Gold

A number of institutional investors have recently made changes to their positions in RGLD. US Bancorp DE increased its holdings in shares of Royal Gold by 3.2% in the 1st quarter. US Bancorp DE now owns 3,913 shares of the basic materials company’s stock worth $552,000 after buying an additional 123 shares during the last quarter. HighTower Advisors LLC grew its holdings in shares of Royal Gold by 17.9% during the 1st quarter. HighTower Advisors LLC now owns 6,544 shares of the basic materials company’s stock valued at $921,000 after purchasing an additional 993 shares during the last quarter. Private Advisor Group LLC bought a new position in shares of Royal Gold during the 1st quarter valued at $251,000. PNC Financial Services Group Inc. grew its holdings in shares of Royal Gold by 2.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,042 shares of the basic materials company’s stock valued at $572,000 after purchasing an additional 96 shares during the last quarter. Finally, Great West Life Assurance Co. Can grew its holdings in shares of Royal Gold by 9.2% during the 1st quarter. Great West Life Assurance Co. Can now owns 35,641 shares of the basic materials company’s stock valued at $5,174,000 after purchasing an additional 2,988 shares during the last quarter. Institutional investors own 78.13% of the company’s stock.

Analysts Set New Price Targets

RGLD has been the subject of a number of recent research reports. Barclays raised their target price on Royal Gold from $119.00 to $122.00 and gave the stock an “equal weight” rating in a research report on Friday, April 21st. National Bankshares decreased their target price on Royal Gold from $165.00 to $160.00 and set a “sector perform” rating for the company in a research report on Friday, May 5th. Cantor Fitzgerald downgraded Royal Gold from a “buy” rating to a “hold” rating in a research report on Thursday, April 20th. National Bank Financial raised their price target on Royal Gold from C$155.00 to C$165.00 in a report on Tuesday, April 18th. Finally, TheStreet lowered Royal Gold from a “b+” rating to a “c” rating in a report on Wednesday, May 3rd. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $141.63.

Royal Gold Company Profile

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Royal Gold, Inc engages in the acquisition and management of precious metal streams, royalties, and similar interests. It operates through the Acquisition and Management of Stream Interests, and Acquisition and Management of Royalty Interests segments. The Acquisition and Management of Stream Interests segment focuses on metal streams, which are purchase agreements that provide, in exchange for an upfront deposit payment, the right to purchase all or a portion of one or more metals produced, at a price determined for the life of the transaction.