Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) was the recipient of a significant increase in short interest in April. As of April 15th, there was short interest totalling 1,610,000 shares, an increase of 25.8% from the March 31st total of 1,280,000 shares. Based on an average trading volume of 470,700 shares, the short-interest ratio is currently 3.4 days. Currently, 2.5% of the company’s shares are short sold.
In other Royal Gold news, VP Randy Shefman sold 900 shares of Royal Gold stock in a transaction dated Wednesday, February 10th. The stock was sold at an average price of $109.19, for a total transaction of $98,271.00. Following the transaction, the vice president now directly owns 6,188 shares in the company, valued at $675,667.72. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.38% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in RGLD. Van ECK Associates Corp grew its position in Royal Gold by 3.2% during the fourth quarter. Van ECK Associates Corp now owns 4,029,400 shares of the basic materials company’s stock worth $428,567,000 after buying an additional 123,868 shares in the last quarter. Morgan Stanley lifted its holdings in shares of Royal Gold by 12.3% in the fourth quarter. Morgan Stanley now owns 1,230,076 shares of the basic materials company’s stock worth $130,831,000 after acquiring an additional 135,004 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Royal Gold by 2.9% in the 4th quarter. Northern Trust Corp now owns 759,242 shares of the basic materials company’s stock valued at $80,752,000 after purchasing an additional 21,178 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Royal Gold by 3.8% in the 4th quarter. Bank of New York Mellon Corp now owns 707,732 shares of the basic materials company’s stock valued at $75,275,000 after purchasing an additional 25,706 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Royal Gold during the 4th quarter valued at approximately $65,488,000. Institutional investors own 74.95% of the company’s stock.
Royal Gold (NASDAQ:RGLD) (TSE:RGL) last released its quarterly earnings results on Tuesday, February 2nd. The basic materials company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.07. Royal Gold had a net margin of 44.76% and a return on equity of 7.56%. The business had revenue of $158.40 million for the quarter, compared to analyst estimates of $152.81 million. During the same period last year, the firm earned $0.63 earnings per share. Royal Gold’s revenue for the quarter was up 28.2% compared to the same quarter last year. On average, equities research analysts predict that Royal Gold will post 3.55 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, April 15th. Stockholders of record on Thursday, April 1st were issued a dividend of $0.30 per share. The ex-dividend date was Wednesday, March 31st. This represents a $1.20 annualized dividend and a dividend yield of 1.04%. Royal Gold’s dividend payout ratio is presently 48.58%.
Several analysts recently issued reports on RGLD shares. TD Securities upped their target price on Royal Gold from $135.00 to $174.00 and gave the stock a “buy” rating in a report on Tuesday, April 27th. TheStreet lowered Royal Gold from a “b-” rating to a “c+” rating in a report on Wednesday, February 3rd. JPMorgan Chase & Co. dropped their target price on Royal Gold from $143.00 to $134.00 in a report on Tuesday, April 27th. Raymond James reiterated an “outperform” rating and set a $140.00 target price (up previously from $138.00) on shares of Royal Gold in a report on Wednesday, April 21st. Finally, Royal Bank of Canada upped their target price on Royal Gold from $135.00 to $140.00 and gave the stock an “outperform” rating in a report on Friday, April 23rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $139.45.
Royal Gold Company Profile
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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