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

Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) announced a quarterly dividend on Tuesday, August 20th, Zacks reports. Shareholders of record on Friday, October 4th will be paid a dividend of 0.40 per share by the basic materials company on Friday, October 18th. This represents a $1.60 annualized dividend and a yield of 1.13%. The ex-dividend date is Friday, October 4th.

Royal Gold has raised its dividend payment by an average of 10.2% annually over the last three years and has increased its dividend every year for the last 24 years. Royal Gold has a payout ratio of 25.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Royal Gold to earn $6.23 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 25.7%.

Royal Gold Trading Up 0.0 %

Shares of Royal Gold stock opened at $141.92 on Thursday. Royal Gold has a 1-year low of $100.55 and a 1-year high of $147.65. The firm’s 50-day moving average price is $137.82 and its two-hundred day moving average price is $129.71. The stock has a market capitalization of $9.33 billion, a price-to-earnings ratio of 41.86, a P/E/G ratio of 1.11 and a beta of 0.90.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last announced its quarterly earnings data on Wednesday, August 7th. The basic materials company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.07. Royal Gold had a net margin of 39.15% and a return on equity of 8.74%. The business had revenue of $174.10 million for the quarter, compared to analyst estimates of $172.12 million. During the same period in the prior year, the business posted $0.88 earnings per share. Royal Gold’s revenue was up 20.9% compared to the same quarter last year. As a group, equities research analysts predict that Royal Gold will post 4.83 EPS for the current year.

Insider Buying and Selling

In related news, Director Ronald J. Vance sold 415 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $140.85, for a total transaction of $58,452.75. Following the sale, the director now directly owns 8,194 shares in the company, valued at $1,154,124.90. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Royal Gold news, Director Ronald J. Vance sold 415 shares of Royal Gold stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $140.85, for a total value of $58,452.75. Following the sale, the director now directly owns 8,194 shares in the company, valued at approximately $1,154,124.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Daniel Breeze sold 840 shares of Royal Gold stock in a transaction on Friday, September 13th. The shares were sold at an average price of $143.43, for a total transaction of $120,481.20. Following the completion of the sale, the senior vice president now owns 16,842 shares in the company, valued at $2,415,648.06. The disclosure for this sale can be found here. Insiders have sold a total of 8,355 shares of company stock worth $1,170,315 over the last ninety days. Company insiders own 0.52% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Scotiabank increased their price objective on shares of Royal Gold from $148.00 to $157.00 and gave the company a “sector perform” rating in a report on Monday, August 19th. CIBC increased their price objective on shares of Royal Gold from $166.00 to $175.00 and gave the company a “neutral” rating in a report on Wednesday, July 10th. Bank of America increased their price objective on shares of Royal Gold from $129.00 to $131.00 and gave the company an “underperform” rating in a report on Wednesday, June 26th. Cibc World Mkts raised shares of Royal Gold to a “hold” rating in a research report on Wednesday, July 10th. Finally, BMO Capital Markets lifted their price target on shares of Royal Gold from $168.00 to $170.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Royal Gold presently has an average rating of “Hold” and a consensus price target of $157.00.

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.