Royal Gold, Inc. Plans Quarterly Dividend of $0.38 (NASDAQ:RGLD)

Posted by Donna Armstrong on May 26th, 2023

Royal Gold, Inc. (NASDAQ:RGLD – Get Rating) (TSE:RGL) announced a quarterly dividend on Wednesday, May 24th, Zacks reports. Shareholders of record on Friday, July 7th will be given a dividend of 0.375 per share by the basic materials company on Friday, July 21st. This represents a $1.50 annualized dividend and a yield of 1.21%. The ex-dividend date is Thursday, July 6th.

Royal Gold has increased its dividend payment by an average of 9.9% annually over the last three years and has increased its dividend every year for the last 21 years. Royal Gold has a payout ratio of 35.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Royal Gold to earn $4.37 per share next year, which means the company should continue to be able to cover its $1.50 annual dividend with an expected future payout ratio of 34.3%.

Royal Gold Stock Performance

Shares of NASDAQ RGLD opened at $123.83 on Friday. The company has a quick ratio of 3.23, a current ratio of 3.44 and a debt-to-equity ratio of 0.18. The firm’s 50-day moving average price is $133.31 and its two-hundred day moving average price is $122.44. Royal Gold has a 52-week low of $84.54 and a 52-week high of $147.82. The stock has a market capitalization of $8.12 billion, a P/E ratio of 34.30, a P/E/G ratio of 3.30 and a beta of 0.65.

Royal Gold (NASDAQ:RGLD – Get Rating) (TSE:RGL) last issued its quarterly earnings data on Wednesday, May 3rd. The basic materials company reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.02. The firm had revenue of $170.40 million during the quarter, compared to the consensus estimate of $162.77 million. Royal Gold had a return on equity of 8.18% and a net margin of 38.80%. The firm’s revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.99 EPS. As a group, sell-side analysts forecast that Royal Gold will post 3.79 earnings per share for the current year.

Insider Buying and Selling at Royal Gold

In other news, COO Mark Isto sold 9,660 shares of Royal Gold stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $141.89, for a total value of $1,370,657.40. Following the transaction, the chief operating officer now directly owns 30,437 shares of the company’s stock, valued at $4,318,705.93. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, COO Mark Isto sold 9,660 shares of Royal Gold stock in a transaction on Monday, May 8th. The stock was sold at an average price of $141.89, for a total transaction of $1,370,657.40. Following the transaction, the chief operating officer now owns 30,437 shares in the company, valued at $4,318,705.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director William M. Hayes sold 2,140 shares of the stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $142.50, for a total value of $304,950.00. Following the completion of the sale, the director now directly owns 9,832 shares of the company’s stock, valued at $1,401,060. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,895 shares of company stock valued at $1,972,930. 0.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. grew its holdings in shares of Royal Gold by 186.8% during the 1st quarter. Ameriprise Financial Inc. now owns 333,850 shares of the basic materials company’s stock valued at $43,304,000 after acquiring an additional 217,438 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in shares of Royal Gold in the 1st quarter valued at approximately $214,000. Quilter Plc bought a new stake in shares of Royal Gold in the 1st quarter valued at approximately $1,084,356,000. First Trust Advisors LP increased its holdings in Royal Gold by 22.5% in the first quarter. First Trust Advisors LP now owns 270,356 shares of the basic materials company’s stock worth $35,068,000 after buying an additional 49,670 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Royal Gold by 3.4% during the first quarter. Geode Capital Management LLC now owns 975,099 shares of the basic materials company’s stock valued at $126,480,000 after acquiring an additional 31,632 shares in the last quarter. 78.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have commented on RGLD. National Bank Financial raised their price target on shares of Royal Gold from C$155.00 to C$165.00 in a research note on Tuesday, April 18th. Cantor Fitzgerald downgraded shares of Royal Gold from a “buy” rating to a “hold” rating in a report on Thursday, April 20th. National Bankshares decreased their target price on shares of Royal Gold from $165.00 to $160.00 and set a “sector perform” rating for the company in a research report on Friday, May 5th. StockNews.com initiated coverage on shares of Royal Gold in a research report on Thursday, May 18th. They set a “hold” rating on the stock. Finally, TheStreet cut shares of Royal Gold from a “b+” rating to a “c” rating in a report on Wednesday, May 3rd. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $141.63.

Royal Gold Company Profile

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Royal Gold, Inc engages in the acquisition and management of precious metal streams, royalties, and similar interests. It operates through the Acquisition and Management of Stream Interests, and Acquisition and Management of Royalty Interests segments. The Acquisition and Management of Stream Interests segment focuses on metal streams, which are purchase agreements that provide, in exchange for an upfront deposit payment, the right to purchase all or a portion of one or more metals produced, at a price determined for the life of the transaction.