Royal Gold, Inc. (NASDAQ:RGLD – Get Free Report) TSE: RGL was the recipient of a large increase in short interest during the month of November. As of November 30th, there was short interest totalling 2,410,000 shares, an increase of 13.1% from the November 15th total of 2,130,000 shares. Currently, 3.7% of the shares of the stock are sold short. Based on an average trading volume of 375,200 shares, the days-to-cover ratio is currently 6.4 days.
Royal Gold Price Performance
Shares of RGLD stock opened at $119.08 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.17 and a current ratio of 2.31. The firm has a market cap of $7.82 billion, a P/E ratio of 33.54, a P/E/G ratio of 2.98 and a beta of 0.74. The business’s 50 day moving average price is $112.41 and its 200-day moving average price is $113.54. Royal Gold has a fifty-two week low of $101.82 and a fifty-two week high of $147.82.
Royal Gold (NASDAQ:RGLD – Get Free Report) TSE: RGL last issued its quarterly earnings data on Wednesday, November 1st. The basic materials company reported $0.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.03). The company had revenue of $138.62 million for the quarter. Royal Gold had a net margin of 37.83% and a return on equity of 8.18%. On average, equities research analysts anticipate that Royal Gold will post 3.42 earnings per share for the current year.
Royal Gold Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, January 19th. Shareholders of record on Friday, January 5th will be issued a dividend of $0.40 per share. This is an increase from Royal Gold’s previous quarterly dividend of $0.38. The ex-dividend date is Thursday, January 4th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.34%. Royal Gold’s dividend payout ratio is 42.25%.
Analyst Upgrades and Downgrades
Several research firms have recently weighed in on RGLD. StockNews.com initiated coverage on shares of Royal Gold in a research report on Thursday, October 5th. They set a “hold” rating on the stock. TD Securities lowered their price target on Royal Gold from $175.00 to $155.00 and set a “buy” rating on the stock in a research report on Thursday, November 2nd. BMO Capital Markets upped their price objective on Royal Gold from $137.00 to $139.00 and gave the stock a “market perform” rating in a report on Wednesday, October 11th. Finally, Raymond James decreased their price objective on Royal Gold from $161.00 to $157.00 and set an “outperform” rating on the stock in a report on Monday, October 2nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $146.88.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in RGLD. Fiduciary Alliance LLC purchased a new position in Royal Gold during the 2nd quarter valued at about $29,000. Quarry LP purchased a new position in shares of Royal Gold during the second quarter valued at approximately $31,000. Glass Jacobson Investment Advisors llc bought a new stake in shares of Royal Gold in the 2nd quarter worth approximately $36,000. Artemis Wealth Advisors LLC bought a new position in Royal Gold during the 3rd quarter valued at approximately $36,000. Finally, 1832 Asset Management L.P. purchased a new position in Royal Gold during the first quarter valued at $51,000. Hedge funds and other institutional investors own 80.49% 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.