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

Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) declared a quarterly dividend on Tuesday, August 20th, Zacks reports. Stockholders of record on Friday, October 4th will be given 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 dividend yield of 1.13%. The ex-dividend date of this dividend is Friday, October 4th.

Royal Gold has raised its dividend 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 Stock Performance

Shares of RGLD stock opened at $141.92 on Thursday. The company has a market capitalization of $9.33 billion, a price-to-earnings ratio of 41.86, a PEG ratio of 1.11 and a beta of 0.90. The company has a 50-day simple moving average of $137.82 and a 200 day simple moving average of $129.71. Royal Gold has a 52 week low of $100.55 and a 52 week high of $147.65.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last announced its earnings results on Wednesday, August 7th. The basic materials company reported $1.25 EPS for the quarter, topping the consensus estimate of $1.18 by $0.07. The business had revenue of $174.10 million during the quarter, compared to the consensus estimate of $172.12 million. Royal Gold had a net margin of 39.15% and a return on equity of 8.74%. Royal Gold’s revenue was up 20.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.88 EPS. Sell-side analysts forecast that Royal Gold will post 4.83 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on RGLD shares. Jefferies Financial Group boosted their price objective on shares of Royal Gold from $130.00 to $141.00 and gave the company a “hold” rating in a report on Friday, July 12th. Raymond James boosted their price objective on shares of Royal Gold from $167.00 to $170.00 and gave the company an “outperformer” rating in a report on Friday, August 9th. StockNews.com raised shares of Royal Gold from a “hold” rating to a “buy” rating in a report on Thursday, September 19th. Cibc World Mkts raised shares of Royal Gold to a “hold” rating in a report on Wednesday, July 10th. Finally, Bank of America boosted 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. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Royal Gold currently has a consensus rating of “Hold” and a consensus target price of $157.00.

Insider Transactions at Royal Gold

In related news, SVP Daniel Breeze sold 840 shares of the company’s stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 16,842 shares in the company, valued at approximately $2,415,648.06. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Royal Gold news, SVP Randy Shefman sold 4,600 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $140.31, for a total value of $645,426.00. Following the completion of the transaction, the senior vice president now directly owns 7,430 shares in the company, valued at approximately $1,042,503.30. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Daniel Breeze sold 840 shares of the company’s stock in a transaction that occurred 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 transaction, the senior vice president now owns 16,842 shares of the company’s stock, valued at $2,415,648.06. The disclosure for this sale can be found here. In the last 90 days, insiders sold 8,355 shares of company stock valued at $1,170,315. Company insiders own 0.52% 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.