Scotiabank set a $90.00 price objective on Royal Gold (NASDAQ:RGLD) (TSE:RGL) in a research report report published on Monday. The brokerage currently has a hold rating on the basic materials company’s stock.
A number of other brokerages have also commented on RGLD. Canaccord Genuity reissued a buy rating and issued a $113.00 price target on shares of Royal Gold in a report on Sunday, October 1st. Royal Bank of Canada set a $89.00 price objective on shares of Royal Gold and gave the company a buy rating in a research note on Monday, October 23rd. Cantor Fitzgerald began coverage on shares of Royal Gold in a research note on Thursday, January 4th. They issued a buy rating and a $105.00 price objective for the company. BMO Capital Markets set a $105.00 price objective on shares of Royal Gold and gave the company a buy rating in a research note on Tuesday, November 14th. Finally, TheStreet raised shares of Royal Gold from a c+ rating to a b- rating in a research note on Wednesday, November 8th. One analyst has rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company’s stock. Royal Gold has an average rating of Hold and an average price target of $94.63.
Royal Gold (RGLD) traded up $0.84 during trading on Monday, reaching $85.56. 296,900 shares of the company were exchanged, compared to its average volume of 547,678. The company has a quick ratio of 3.73, a current ratio of 3.92 and a debt-to-equity ratio of 0.23. The company has a market cap of $5,530.00, a price-to-earnings ratio of 55.56, a PEG ratio of 4.85 and a beta of 0.46. Royal Gold has a twelve month low of $61.00 and a twelve month high of $94.39.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 19th. Stockholders of record on Friday, January 5th will be paid a $0.25 dividend. This is a boost from Royal Gold’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Thursday, January 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.17%. Royal Gold’s dividend payout ratio is 64.94%.
In other news, CFO Stefan Wenger sold 1,500 shares of the company’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $85.00, for a total value of $127,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.12% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Mountain Capital Investment Advisors Inc purchased a new stake in Royal Gold during the 2nd quarter valued at $109,000. Quantbot Technologies LP purchased a new stake in Royal Gold during the 3rd quarter valued at $174,000. U S Global Investors Inc. boosted its position in Royal Gold by 333.1% during the 2nd quarter. U S Global Investors Inc. now owns 3,032 shares of the basic materials company’s stock valued at $263,000 after buying an additional 2,332 shares during the period. Macquarie Group Ltd. purchased a new stake in Royal Gold during the 3rd quarter valued at $267,000. Finally, Visionary Asset Management Inc. purchased a new stake in Royal Gold during the 3rd quarter valued at $289,000. 72.02% of the stock is owned by institutional investors and hedge funds.
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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