Royal Gold (NASDAQ:RGLD) (TSE:RGL) – B. Riley raised their Q2 2019 earnings per share (EPS) estimates for shares of Royal Gold in a research note issued on Tuesday, April 17th, Zacks Investment Research reports. B. Riley analyst L. Pipes now anticipates that the basic materials company will post earnings of $0.46 per share for the quarter, up from their previous estimate of $0.45. B. Riley also issued estimates for Royal Gold’s Q3 2019 earnings at $0.45 EPS, Q4 2019 earnings at $0.44 EPS and FY2020 earnings at $1.78 EPS.
A number of other brokerages also recently weighed in on RGLD. BMO Capital Markets set a $102.00 target price on Royal Gold and gave the stock a “buy” rating in a report on Wednesday, March 28th. UBS raised Royal Gold from a “market perform” rating to an “outperform” rating in a research note on Wednesday, March 14th. Cantor Fitzgerald initiated coverage on Royal Gold in a research note on Thursday, January 4th. They issued a “buy” rating and a $105.00 price objective for the company. Canaccord Genuity raised Royal Gold from a “hold” rating to a “buy” rating in a research note on Thursday, February 8th. Finally, BidaskClub raised Royal Gold from a “sell” rating to a “hold” rating in a research note on Thursday, March 15th. Nine investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $95.46.
Royal Gold (NASDAQ:RGLD) (TSE:RGL) last issued its earnings results on Thursday, February 8th. The basic materials company reported $0.41 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.42 by ($0.01). The business had revenue of $114.35 million during the quarter, compared to the consensus estimate of $114.79 million. Royal Gold had a return on equity of 4.31% and a net margin of 13.00%. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.36 earnings per share.
A number of institutional investors have recently modified their holdings of RGLD. Macquarie Group Ltd. bought a new stake in Royal Gold during the third quarter worth $267,000. Schwab Charles Investment Management Inc. lifted its holdings in Royal Gold by 4.4% during the third quarter. Schwab Charles Investment Management Inc. now owns 234,398 shares of the basic materials company’s stock worth $20,168,000 after acquiring an additional 9,879 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Royal Gold by 6.0% during the third quarter. Dimensional Fund Advisors LP now owns 684,332 shares of the basic materials company’s stock worth $58,882,000 after acquiring an additional 38,500 shares during the period. Janus Henderson Group PLC bought a new stake in Royal Gold during the third quarter worth $2,693,000. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Royal Gold in the third quarter valued at $392,000. Institutional investors and hedge funds own 77.80% of the company’s stock.
In related news, CFO Stefan Wenger sold 1,500 shares of Royal Gold stock in a transaction that occurred on Friday, March 23rd. The stock was sold at an average price of $85.00, for a total transaction of $127,500.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders have sold 4,500 shares of company stock worth $389,160. 1.12% of the stock is owned by insiders.
The business also recently announced a quarterly dividend, which was paid on Friday, April 20th. Investors of record on Friday, April 6th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, April 5th. This represents a $1.00 annualized dividend and a dividend yield of 1.13%. Royal Gold’s payout ratio is 64.52%.
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About Royal Gold
Royal Gold, Inc, together with its subsidiaries, acquires and manages precious metal streams, royalties, and similar 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. As of June 30, 2017, the company owned stream interests in 4 producing property and 2 development stage properties; and owned royalty interests in 35 producing properties, 18 development stage properties, and 135 exploration stage properties.
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