Royal Gold, Inc. to Issue Quarterly Dividend of $0.40 (NASDAQ:RGLD)

Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) announced a quarterly dividend on Wednesday, May 22nd, Zacks reports. Investors of record on Friday, July 5th will be given a dividend of 0.40 per share by the basic materials company on Friday, July 19th. This represents a $1.60 annualized dividend and a dividend yield of 1.24%. The ex-dividend date of this dividend is Friday, July 5th.

Royal Gold has increased its dividend by an average of 10.2% annually over the last three years and has increased its dividend annually for the last 24 consecutive years. Royal Gold has a payout ratio of 28.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Royal Gold to earn $5.79 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 27.6%.

Royal Gold Stock Performance

Shares of Royal Gold stock opened at $129.43 on Thursday. The business has a fifty day simple moving average of $125.96 and a two-hundred day simple moving average of $119.43. The firm has a market capitalization of $8.51 billion, a P/E ratio of 38.18, a P/E/G ratio of 1.04 and a beta of 0.87. The company has a current ratio of 2.50, a quick ratio of 2.35 and a debt-to-equity ratio of 0.05. Royal Gold has a 12 month low of $100.55 and a 12 month high of $134.56.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last announced its quarterly earnings data on Wednesday, May 8th. The basic materials company reported $0.91 earnings per share for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.04). Royal Gold had a return on equity of 7.96% and a net margin of 38.12%. The business had revenue of $148.90 million during the quarter, compared to analysts’ expectations of $147.02 million. During the same quarter last year, the company posted $0.96 EPS. Royal Gold’s revenue for the quarter was down 12.6% compared to the same quarter last year. On average, equities analysts forecast that Royal Gold will post 4.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

RGLD has been the subject of a number of analyst reports. Bank of America raised their price objective on Royal Gold from $129.00 to $131.00 and gave the company an “underperform” rating in a research report on Wednesday, June 26th. Scotiabank lifted their price target on Royal Gold from $144.00 to $148.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 23rd. Finally, BMO Capital Markets increased their price objective on shares of Royal Gold from $160.00 to $161.00 and gave the company an “outperform” rating in a research report on Tuesday, May 21st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $142.25.

Insider Transactions at Royal Gold

In related news, SVP Daniel Breeze sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $130.73, for a total value of $196,095.00. Following the sale, the senior vice president now owns 14,840 shares in the company, valued at $1,940,033.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.52% of the company’s stock.

About Royal Gold

Royal Gold, Inc, together with its subsidiaries, acquires and manages precious metal streams, royalties, and related interests. The company engages in acquiring stream and royalty interests or to finance projects that are in production, development, or in the exploration stage in exchange for stream or royalty interests, which primarily consists of gold, silver, copper, nickel, zinc, lead, and other metals.