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

Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) announced a quarterly dividend on Tuesday, November 14th, Zacks reports. Stockholders of record on Friday, January 5th will be paid a dividend of 0.40 per share by the basic materials company on Friday, January 19th. This represents a $1.60 annualized dividend and a dividend yield of 1.44%. The ex-dividend date is Thursday, January 4th. This is a boost from Royal Gold’s previous quarterly dividend of $0.38.

Royal Gold has increased its dividend by an average of 9.7% annually over the last three years and has raised its dividend annually for the last 22 consecutive years. Royal Gold has a dividend payout ratio of 35.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Royal Gold to earn $3.98 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 37.7%.

Royal Gold Trading Up 0.4 %

Shares of RGLD opened at $111.18 on Thursday. Royal Gold has a twelve month low of $101.64 and a twelve month high of $147.82. The company has a market cap of $7.30 billion, a P/E ratio of 31.32, a P/E/G ratio of 3.03 and a beta of 0.69. The company has a current ratio of 2.31, a quick ratio of 2.17 and a debt-to-equity ratio of 0.11. The company’s fifty day simple moving average is $108.28 and its 200-day simple moving average is $115.80.

Institutional Trading of Royal Gold

A number of institutional investors have recently modified their holdings of the company. Captrust Financial Advisors boosted its stake in Royal Gold by 3.2% in the 4th quarter. Captrust Financial Advisors now owns 2,702 shares of the basic materials company’s stock worth $305,000 after purchasing an additional 85 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in Royal Gold by 2.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,042 shares of the basic materials company’s stock worth $572,000 after purchasing an additional 96 shares in the last quarter. Harbour Investments Inc. boosted its stake in Royal Gold by 20.4% in the 4th quarter. Harbour Investments Inc. now owns 572 shares of the basic materials company’s stock worth $64,000 after purchasing an additional 97 shares in the last quarter. US Bancorp DE boosted its stake in Royal Gold by 3.2% in the 1st quarter. US Bancorp DE now owns 3,913 shares of the basic materials company’s stock worth $552,000 after purchasing an additional 123 shares in the last quarter. Finally, Eaton Vance Management boosted its stake in Royal Gold by 7.0% in the 1st quarter. Eaton Vance Management now owns 2,321 shares of the basic materials company’s stock worth $328,000 after purchasing an additional 152 shares in the last quarter. 80.49% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Cantor Fitzgerald raised shares of Royal Gold from a “hold” rating to a “buy” rating and set a $145.00 price target on the stock in a research note on Thursday, August 3rd. TD Securities reduced their price target on shares of Royal Gold from $175.00 to $155.00 and set a “buy” rating on the stock in a research note on Thursday, November 2nd. StockNews.com assumed coverage on shares of Royal Gold in a research note on Thursday, October 5th. They issued a “hold” rating on the stock. BMO Capital Markets raised their price target on shares of Royal Gold from $137.00 to $139.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 11th. Finally, Raymond James dropped their target price on shares of Royal Gold from $161.00 to $157.00 and set an “outperform” rating on the stock in a report on Monday, October 2nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $143.89.

Royal Gold Company Profile

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.