Royal Gold, Inc (NASDAQ:RGLD) (TSE:RGL) declared a quarterly dividend on Wednesday, August 14th, Zacks reports. Stockholders of record on Friday, October 4th will be given a dividend of 0.265 per share by the basic materials company on Friday, October 18th. This represents a $1.06 annualized dividend and a dividend yield of 0.85%. The ex-dividend date is Thursday, October 3rd.
Royal Gold has raised its dividend by an average of 4.4% annually over the last three years and has increased its dividend annually for the last 14 consecutive years. Royal Gold has a dividend payout ratio of 54.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Royal Gold to earn $2.38 per share next year, which means the company should continue to be able to cover its $1.06 annual dividend with an expected future payout ratio of 44.5%.
NASDAQ:RGLD opened at $125.03 on Friday. The company has a market capitalization of $8.17 billion, a PE ratio of 85.34, a price-to-earnings-growth ratio of 5.08 and a beta of 0.21. The company has a quick ratio of 4.26, a current ratio of 4.60 and a debt-to-equity ratio of 0.10. Royal Gold has a 52-week low of $70.16 and a 52-week high of $131.28. The stock has a fifty day simple moving average of $114.45 and a 200-day simple moving average of $95.85.
In other Royal Gold news, CEO Tony A. Jensen sold 38,821 shares of Royal Gold stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $92.42, for a total value of $3,587,836.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Tony A. Jensen sold 46,570 shares of Royal Gold stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $124.59, for a total value of $5,802,156.30. The disclosure for this sale can be found here. Insiders sold a total of 154,535 shares of company stock valued at $16,508,696 in the last three months. 0.95% of the stock is currently owned by corporate insiders.
Several research analysts have recently issued reports on RGLD shares. CIBC downgraded Royal Gold from a “sector outperform” rating to a “neutral” rating in a research note on Thursday, August 1st. Bank of America downgraded Royal Gold to an “underperform” rating in a research note on Friday, June 28th. B. Riley boosted their target price on shares of Royal Gold from $100.00 to $125.00 and gave the company a “buy” rating in a research note on Friday, July 19th. BidaskClub raised shares of Royal Gold from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 28th. Finally, Zacks Investment Research raised shares of Royal Gold from a “hold” rating to a “buy” rating and set a $101.00 target price for the company in a research note on Monday, June 3rd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $110.94.
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, cobalt, and molybdenum.
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