Royal Gold (NASDAQ:RGLD) Shares Gap Down – Here’s What Happened

Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) shares gapped down before the market opened on Monday . The stock had previously closed at $148.99, but opened at $145.04. Royal Gold shares last traded at $146.33, with a volume of 5,929 shares.

Analysts Set New Price Targets

A number of brokerages recently issued reports on RGLD. TD Securities upped their price target on Royal Gold from $181.00 to $185.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Raymond James upped their price objective on shares of Royal Gold from $184.00 to $186.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. StockNews.com raised Royal Gold from a “hold” rating to a “buy” rating in a report on Thursday, September 19th. Jefferies Financial Group raised their price target on Royal Gold from $141.00 to $154.00 and gave the stock a “hold” rating in a research note on Friday, October 4th. Finally, Scotiabank boosted their price objective on Royal Gold from $148.00 to $157.00 and gave the company a “sector perform” rating in a research note on Monday, August 19th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $165.43.

Royal Gold Trading Down 2.3 %

The firm has a 50 day simple moving average of $145.01 and a two-hundred day simple moving average of $136.60. The company has a market capitalization of $9.57 billion, a PE ratio of 34.17, a P/E/G ratio of 1.19 and a beta of 0.90.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last posted its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $1.47 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.13. The firm had revenue of $193.84 million for the quarter, compared to analyst estimates of $184.12 million. Royal Gold had a net margin of 42.93% and a return on equity of 10.18%. Royal Gold’s quarterly revenue was up 39.8% on a year-over-year basis. During the same period last year, the firm posted $0.76 EPS. Research analysts expect that Royal Gold, Inc. will post 5.13 earnings per share for the current fiscal year.

Royal Gold Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Friday, January 3rd will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date is Friday, January 3rd. This is an increase from Royal Gold’s previous quarterly dividend of $0.40. Royal Gold’s dividend payout ratio (DPR) is currently 36.70%.

Insider Buying and Selling

In other Royal Gold news, Director William M. Hayes sold 1,984 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $147.05, for a total value of $291,747.20. Following the sale, the director now owns 9,268 shares of the company’s stock, valued at $1,362,859.40. This represents a 17.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Randy Shefman sold 4,600 shares of Royal Gold stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $140.31, for a total value of $645,426.00. Following the transaction, the senior vice president now owns 7,430 shares of the company’s stock, valued at $1,042,503.30. This represents a 38.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,924 shares of company stock valued at $1,271,449. Corporate insiders own 0.52% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd purchased a new stake in Royal Gold in the 3rd quarter valued at about $36,000. Advisors Asset Management Inc. purchased a new stake in Royal Gold in the third quarter valued at approximately $38,000. Nomura Asset Management Co. Ltd. raised its stake in Royal Gold by 61.1% during the third quarter. Nomura Asset Management Co. Ltd. now owns 290 shares of the basic materials company’s stock worth $41,000 after purchasing an additional 110 shares during the period. Compagnie Lombard Odier SCmA acquired a new position in shares of Royal Gold in the 3rd quarter valued at $49,000. Finally, Larson Financial Group LLC boosted its holdings in shares of Royal Gold by 51.7% in the 3rd quarter. Larson Financial Group LLC now owns 361 shares of the basic materials company’s stock valued at $51,000 after purchasing an additional 123 shares during the last quarter. Institutional investors and hedge funds own 83.65% 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.