Royal Gold, Inc. (NASDAQ:RGLD) Short Interest Update

Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) was the recipient of a large increase in short interest in August. As of August 15th, there was short interest totaling 2,970,000 shares, an increase of 32.6% from the July 31st total of 2,240,000 shares. Based on an average daily trading volume, of 779,600 shares, the days-to-cover ratio is presently 3.8 days. Currently, 4.5% of the shares of the company are short sold. Currently, 4.5% of the shares of the company are short sold. Based on an average daily trading volume, of 779,600 shares, the days-to-cover ratio is presently 3.8 days.

Institutional Investors Weigh In On Royal Gold

Hedge funds and other institutional investors have recently bought and sold shares of the business. WPG Advisers LLC bought a new stake in Royal Gold during the 1st quarter valued at $27,000. Cullen Frost Bankers Inc. grew its position in shares of Royal Gold by 548.1% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 175 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 148 shares in the last quarter. Alpine Bank Wealth Management purchased a new position in shares of Royal Gold during the 1st quarter valued at $32,000. Banque Cantonale Vaudoise purchased a new position in shares of Royal Gold during the 1st quarter valued at $34,000. Finally, Blue Trust Inc. grew its position in shares of Royal Gold by 56.8% during the 2nd quarter. Blue Trust Inc. now owns 196 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 71 shares in the last quarter. Institutional investors own 83.65% of the company’s stock.

Royal Gold Trading Up 0.6%

NASDAQ:RGLD opened at $186.18 on Thursday. The stock has a market capitalization of $12.26 billion, a PE ratio of 27.30, a price-to-earnings-growth ratio of 1.35 and a beta of 0.43. The firm’s 50 day moving average is $167.55 and its 200 day moving average is $169.49. Royal Gold has a 12 month low of $130.67 and a 12 month high of $191.78.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last issued its earnings results on Wednesday, August 6th. The basic materials company reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.11. Royal Gold had a net margin of 56.24% and a return on equity of 13.30%. The business had revenue of $209.64 million for the quarter, compared to analysts’ expectations of $186.63 million. During the same quarter in the previous year, the firm posted $1.25 EPS. The business’s revenue for the quarter was up 20.4% compared to the same quarter last year. Research analysts predict that Royal Gold will post 6.2 earnings per share for the current year.

Royal Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Friday, October 3rd will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $1.80 dividend on an annualized basis and a yield of 1.0%. Royal Gold’s payout ratio is presently 26.39%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Wall Street Zen raised shares of Royal Gold from a “hold” rating to a “buy” rating in a research report on Saturday, August 30th. Zacks Research cut shares of Royal Gold from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 19th. TD Securities reissued a “buy” rating and set a $237.00 target price (up previously from $229.00) on shares of Royal Gold in a research report on Friday, August 8th. Canaccord Genuity Group lifted their target price on shares of Royal Gold from $202.00 to $203.00 in a research report on Wednesday, June 11th. Finally, BMO Capital Markets set a $197.00 target price on shares of Royal Gold and gave the stock a “market perform” rating in a research report on Thursday, May 22nd. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $198.63.

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.