Royal Gold
Royal Gold, Inc., together with its subsidiaries, acquires and manages precious metal streams, royalties, and related interests. The last earnings update was 75 days ago. More info.
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RGLD Share Price and Events
7 Day Returns
1 Year Returns
RGLD Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| Royal Gold (RGLD) | -5.1% | -5.7% | 6.2% | -2% | 51.2% | 30.2% |
| US Metals and Mining | -3.6% | 0.4% | 6% | -22.4% | 15% | -11.3% |
| US Market | -0.1% | 3.7% | 10.2% | 7.6% | 38.1% | 46.4% |
1 Year Return vs Industry and Market
- RGLD outperformed the Metals and Mining industry which returned -22.4% over the past year.
- RGLD underperformed the Market in United States of America which returned 7.6% over the past year.
RGLD Value
Is Royal Gold undervalued based on future cash flows and its price relative to the stock market?
Value is all about what a company is worth versus what price it is
available for. If you went into a grocery store and all the bananas were on sale
at half price, they could be considered
undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current
share
price of
Royal Gold
to its discounted cash flow analysis.value.The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Below are the data sources, inputs and calculation used to determine the intrinsic value for Royal Gold.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | 2 Stage Free Cash Flow to Equity | |
| Levered Free Cash Flow | Average of 4 Analyst Estimates (S&P Global) | See below |
| Discount Rate (Cost of Equity) | See below | 9.1% |
| Perpetual Growth Rate | 10-Year US Government Bond Rate | 2.7% |
An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.
| Data Point | Calculation/ Source | Result |
|---|---|---|
| Risk-Free Rate | 10-Year US Govt Bond Rate | 2.7% |
| Equity Risk Premium | S&P Global | 6% |
| Metals and Mining Unlevered Beta | Simply Wall St/ S&P Global | 1.04 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.04 (1 + (1- 21%) (6.31%)) |
1.062 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
1.06 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.062 * 5.96%) |
9.06% |
Discounted Cash Flow Calculation for NasdaqGS:RGLD using 2 Stage Free Cash Flow to Equity Model
The calculations below outline how an intrinsic value for Royal Gold is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.
| Levered FCF (USD, Millions) | Source |
Present Value Discounted (@ 9.06%) |
|
|---|---|---|---|
| 2019 | 267.00 | Analyst x5 | 244.83 |
| 2020 | 249.75 | Analyst x4 | 209.99 |
| 2021 | 139.10 | Analyst x2 | 107.24 |
| 2022 | 126.27 | Est @ -9.22% | 89.27 |
| 2023 | 119.16 | Est @ -5.64% | 77.24 |
| 2024 | 115.43 | Est @ -3.13% | 68.61 |
| 2025 | 113.85 | Est @ -1.37% | 62.05 |
| 2026 | 113.69 | Est @ -0.14% | 56.82 |
| 2027 | 114.51 | Est @ 0.72% | 52.48 |
| 2028 | 116.03 | Est @ 1.32% | 48.75 |
| Present value of next 10 years cash flows | $1,017.28 | ||
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2028
× (1 + g) ÷ (Discount Rate – g)
= $116.03 × (1 + 2.73%) ÷ (9.06% – 2.73%) |
$1,883.84 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)10
= $1,883.84 ÷ (1 + 9.06%)10 |
$791.58 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 10 years cash flows +
Terminal Value
= $1,017.28 + $791.58 |
$1,808.86 |
| Equity Value per Share (USD) |
= Total value / Shares Outstanding
= $1,808.86 / 65.52 |
$27.61 |
| Calculation | Result | |
|---|---|---|
| Value per share (USD) | From above. | $27.61 |
| Current discount | Discount to share price of
$86.80
= -1 x ($86.80 - $27.61) / $27.61 |
-214.4% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
- The current share price of Royal Gold is above its future cash flow value.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for
it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing
when they are out of season, or how much your home is worth.The amount the stock market is willing to pay for Royal Gold's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
Royal Gold's earnings available for a low price, and how does
this compare to other companies in the same industry?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2018-12-31) in USD | $-1.35 |
| NasdaqGS:RGLD Share Price ** | NasdaqGS (2019-04-23) in USD | $86.8 |
| United States of America Metals and Mining Industry PE Ratio | Median Figure of 43 Publicly-Listed Metals and Mining Companies | 9.26x |
| United States of America Market PE Ratio | Median Figure of 3,080 Publicly-Listed Companies | 18.03x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of Royal Gold.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = NasdaqGS:RGLD Share Price ÷ EPS (both in USD) = 86.8 ÷ -1.35 |
-64.16x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Royal Gold is loss making, we can't compare its value to the US Metals and Mining industry average.
- Royal Gold is loss making, we can't compare the value of its earnings to the United States of America market.
Price based on expected Growth
Does
Royal Gold's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | -64.16x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts |
61.1%per year |
| United States of America Metals and Mining Industry PEG Ratio | Median Figure of 23 Publicly-Listed Metals and Mining Companies | 0.69x |
| United States of America Market PEG Ratio | Median Figure of 2,109 Publicly-Listed Companies | 1.55x |
*Line of best fit is calculated by linear regression .
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Unable to calculate PEG ratio for Royal Gold, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on
Royal Gold's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2018-12-31) in USD | $32.29 |
| NasdaqGS:RGLD Share Price * | NasdaqGS (2019-04-23) in USD | $86.8 |
| United States of America Metals and Mining Industry PB Ratio | Median Figure of 101 Publicly-Listed Metals and Mining Companies | 1.41x |
| United States of America Market PB Ratio | Median Figure of 5,185 Publicly-Listed Companies | 1.92x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = NasdaqGS:RGLD Share Price ÷ Book Value per Share (both in USD) = 86.8 ÷ 32.29 |
2.69x |
* Primary Listing of Royal Gold.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Royal Gold is overvalued based on assets compared to the US Metals and Mining industry average.
Value checks
We assess Royal Gold's value by looking at:- Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
- Is the PE ratio less than the market average, and/ or less than the Metals and Mining industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the Metals and Mining industry average (and greater than 0)? (1 check) Royal Gold has a total score of 0/6, see the detailed checks below.
Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.
Full details on the Value part of the Simply Wall St company analysis model.
RGLD Future Performance
How is Royal Gold expected to perform in the next 1 to 3 years based on estimates from 4 analysts?
The future performance of a company is measured in the same way as past
performance, by looking at estimated
growth
and how much profit it is expected to make.Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Earnings growth vs Low Risk Savings
- Royal Gold's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
- Royal Gold's earnings growth is expected to exceed the United States of America market average.
- Royal Gold's revenue growth is expected to exceed the United States of America market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| NasdaqGS:RGLD Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts | 61.1% |
| NasdaqGS:RGLD Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 4 Analysts | 10.5% |
| United States of America Metals and Mining Industry Earnings Growth Rate | Market Cap Weighted Average | 15.3% |
| United States of America Metals and Mining Industry Revenue Growth Rate | Market Cap Weighted Average | 2.5% |
| United States of America Market Earnings Growth Rate | Market Cap Weighted Average | 13.5% |
| United States of America Market Revenue Growth Rate | Market Cap Weighted Average | 7.1% |
*Line of best fit is calculated by linear regression .
Industry and Market average data is calculated daily.
Learn more about our growth rate calculations in Simply Wall St’s analysis model.
Analysts growth expectations
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (3 months ago) | See Below |
| Future Estimates | Average of up to 4 Analyst Estimates (S&P Global) | See Below |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2023-06-30 | ||||
| 2022-06-30 | 327 | |||
| 2021-06-30 | 544 | 364 | 145 | 1 |
| 2020-06-30 | 490 | 333 | 129 | 3 |
| 2019-06-30 | 438 | 288 | 97 | 4 |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2018-12-31 | 426 | 285 | -88 |
| 2018-09-30 | 444 | 302 | -127 |
| 2018-06-30 | 457 | 329 | -113 |
| 2018-03-31 | 450 | 317 | -120 |
| 2017-12-31 | 441 | 289 | 58 |
| 2017-09-30 | 434 | 283 | 100 |
| 2017-06-30 | 439 | 267 | 102 |
| 2017-03-31 | 424 | 250 | 102 |
| 2016-12-31 | 410 | 240 | 11 |
| 2016-09-30 | 401 | 222 | -2 |
| 2016-06-30 | 356 | 169 | -77 |
| 2016-03-31 | 335 | 165 | -83 |
*GAAP earnings excluding extraordinary items.
Past and Future Earnings per Share
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (3 months ago) | See Below |
| Future Estimates | Average of up to 4 Analyst Estimates (S&P Global) | See Below |
All data from Royal Gold Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in USD Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
|---|---|---|---|---|
| 2023-06-30 | ||||
| 2022-06-30 | ||||
| 2021-06-30 | 2.32 | 2.42 | 2.21 | 2.00 |
| 2020-06-30 | 2.11 | 2.38 | 1.95 | 3.00 |
| 2019-06-30 | 1.49 | 1.60 | 1.38 | 4.00 |
| Date (Data in USD Millions) | EPS * |
|---|---|
| 2018-12-31 | -1.35 |
| 2018-09-30 | -1.94 |
| 2018-06-30 | -1.73 |
| 2018-03-31 | -1.84 |
| 2017-12-31 | 0.88 |
| 2017-09-30 | 1.54 |
| 2017-06-30 | 1.56 |
| 2017-03-31 | 1.57 |
| 2016-12-31 | 0.16 |
| 2016-09-30 | -0.04 |
| 2016-06-30 | -1.19 |
| 2016-03-31 | -1.27 |
*GAAP earnings excluding extraordinary items.
Performance in 3 years
In the same way as past performance we look at the future estimated return
(profit) compared to the available
funds. We do this looking forward 3 years.
- Unable to establish if Royal Gold will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
Future performance checks
We assess Royal Gold's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Royal Gold has a total score of 4/6, see the detailed checks below.
Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.
Full details on the Future part of the Simply Wall St company analysis model.
RGLD Past Performance
How has Royal Gold performed over the past 5 years?
The past performance of a company can be measured by how much
growth
it has experienced and how much profit it makes relative to the funds and assets
it has available.
Past earnings growth
Past Earnings growth analysis
- Royal Gold does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
- Unable to compare Royal Gold's 1-year earnings growth to the 5-year average as it is not currently profitable.
- Unable to compare Royal Gold's 1-year growth to the US Metals and Mining industry average as it is not currently profitable.
Earnings and Revenue History
All data from Royal Gold Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in USD Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2018-12-31 | 426.48 | -88.40 | 45.95 | |
| 2018-09-30 | 443.54 | -126.76 | 48.60 | |
| 2018-06-30 | 456.77 | -113.13 | 44.41 | |
| 2018-03-31 | 449.74 | -119.77 | 44.01 | |
| 2017-12-31 | 440.77 | 57.54 | 43.42 | |
| 2017-09-30 | 433.54 | 100.37 | 42.52 | |
| 2017-06-30 | 439.05 | 101.53 | 46.21 | |
| 2017-03-31 | 424.25 | 101.95 | 42.63 | |
| 2016-12-31 | 410.19 | 10.63 | 44.49 | |
| 2016-09-30 | 400.80 | -2.32 | 41.45 | |
| 2016-06-30 | 355.81 | -77.15 | 40.32 | |
| 2016-03-31 | 334.60 | -82.77 | 38.26 | |
| 2015-12-31 | 315.25 | 9.90 | 31.05 | |
| 2015-09-30 | 277.70 | -11.76 | 32.59 | |
| 2015-06-30 | 272.57 | 51.97 | 27.07 | |
| 2015-03-31 | 268.58 | 53.79 | 24.45 | |
| 2014-12-31 | 251.43 | 48.91 | 25.61 | |
| 2014-09-30 | 243.04 | 66.13 | 21.76 | |
| 2014-06-30 | 230.41 | 62.64 | 21.19 | |
| 2014-03-31 | 217.32 | 56.71 | 19.83 | |
| 2013-12-31 | 233.04 | 43.03 | 23.13 | |
| 2013-09-30 | 259.53 | 59.58 | 24.36 | |
| 2013-06-30 | 280.21 | 69.15 | 24.03 | |
| 2013-03-31 | 283.16 | 79.02 | 23.90 | |
| 2012-12-31 | 278.46 | 98.56 | 21.17 | |
| 2012-09-30 | 266.68 | 94.75 | 20.33 | |
| 2012-06-30 | 253.61 | 92.48 | 20.65 |
*GAAP earnings excluding extraordinary items.
Performance last year
We want to ensure a company is making the most of what it has available. This is
done by comparing the return (profit) to a company's available
funds,
assets
and
capital.
- It is difficult to establish if Royal Gold has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
- It is difficult to establish if Royal Gold has efficiently used its assets last year compared to the US Metals and Mining industry average (Return on Assets) as it is loss-making.
- It is difficult to establish if Royal Gold improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
Past performance checks
We assess Royal Gold's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the Metals and Mining industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
Royal Gold has a total score of 0/6, see the detailed checks below.
Note: We use GAAP Net Income excluding extraordinary items in all our calculations.
Full details on the Past part of the Simply Wall St company analysis model.
RGLD Health
How is Royal Gold's financial health and their level of debt?
A company's financial position is much like your own financial position,
it includes everything you own
(assets)
and owe
(liabilities).The boxes below represent the relative size of what makes up Royal Gold's finances.
The net worth of a company is the difference between its assets and liabilities.
- Royal Gold is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
- Royal Gold's long term commitments exceed its cash and other short term assets.
Balance sheet
Assets
Liabilities and shares
- Low level of unsold assets.
- Debt is not covered by short term assets, assets are 0.6x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t
bad,
however if the debt is too high, or the company can’t afford to pay the interest
on its debts this may have impacts in the future.The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.
If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
All data from Royal Gold Company Filings, last reported 3 months ago.
| Date (Data in USD Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2018-12-31 | 2,146.97 | 358.90 | 156.54 |
| 2018-09-30 | 2,139.27 | 354.94 | 117.08 |
| 2018-06-30 | 2,141.27 | 351.03 | 88.75 |
| 2018-03-31 | 2,130.41 | 422.27 | 109.38 |
| 2017-12-31 | 2,299.82 | 493.49 | 98.13 |
| 2017-09-30 | 2,330.19 | 539.77 | 89.50 |
| 2017-06-30 | 2,320.26 | 586.17 | 85.85 |
| 2017-03-31 | 2,316.50 | 635.88 | 88.09 |
| 2016-12-31 | 2,310.27 | 677.43 | 83.99 |
| 2016-09-30 | 2,298.54 | 674.03 | 133.04 |
| 2016-06-30 | 2,285.89 | 600.69 | 116.63 |
| 2016-03-31 | 2,281.36 | 630.25 | 126.72 |
| 2015-12-31 | 2,362.22 | 677.49 | 117.60 |
| 2015-09-30 | 2,359.82 | 674.78 | 104.31 |
| 2015-06-30 | 2,415.93 | 313.87 | 749.12 |
| 2015-03-31 | 2,413.02 | 319.48 | 715.23 |
| 2014-12-31 | 2,358.03 | 316.87 | 675.13 |
| 2014-09-30 | 2,378.34 | 314.33 | 691.41 |
| 2014-06-30 | 2,372.56 | 311.86 | 659.54 |
| 2014-03-31 | 2,360.82 | 309.40 | 646.11 |
| 2013-12-31 | 2,368.75 | 306.98 | 659.29 |
| 2013-09-30 | 2,374.94 | 304.60 | 637.90 |
| 2013-06-30 | 2,370.64 | 302.26 | 664.04 |
| 2013-03-31 | 2,377.86 | 299.96 | 673.10 |
| 2012-12-31 | 2,372.75 | 297.70 | 680.73 |
| 2012-09-30 | 1,886.05 | 295.44 | 302.04 |
| 2012-06-30 | 1,863.43 | 293.25 | 375.46 |
- Royal Gold's level of debt (16.7%) compared to net worth is satisfactory (less than 40%).
- The level of debt compared to net worth has increased over the past 5 years (13% vs 16.7% today).
- Debt is well covered by operating cash flow (79.4%, greater than 20% of total debt).
- Unable to confirm if the interest payments on Royal Gold's debt are well covered by earnings due to lack of past financial data.
Financial health checks
We assess Royal Gold's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) Royal Gold has a total score of 3/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
Full details on the Health part of the Simply Wall St company analysis model.
RGLD Dividends
What is Royal Gold's current dividend yield, its reliability and sustainability?
Dividends are regular cash payments to you from the company, similar to a
bank paying you interest on a savings account.
Annual Dividend Income
If you bought
$2,000 of
Royal Gold
shares you are expected to receive
$24
in your first year as a dividend.
Dividend Amount
- Royal Gold's pays a lower dividend yield than the bottom 25% of dividend payers in United States of America (1.4%).
- Royal Gold's dividend is below the markets top 25% of dividend payers in United States of America (3.64%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not
wildly increasing/decreasing each year. This graph shows you the historical rate
to count toward your assessment of the stock.We also check to see if the dividend has increased in the past 10 years.
| Data Point | Source | Value |
|---|---|---|
| Past Annualized Dividend Yield | S&P Global Market Data | See Below |
| Past Dividends per Share | Company Filings/ Annualized Dividend Payments | See Below |
| Future Dividends per Share Estimates | Average of up to 4 Analyst Estimates (S&P Global) | See Below |
| United States of America Metals and Mining Industry Average Dividend Yield | Market Cap Weighted Average of 30 Stocks | 2.5% |
| United States of America Market Average Dividend Yield | Market Cap Weighted Average of 2008 Stocks | 2.4% |
| United States of America Minimum Threshold Dividend Yield | 10th Percentile | 0.8% |
| United States of America Bottom 25% Dividend Yield | 25th Percentile | 1.4% |
| United States of America Top 25% Dividend Yield | 75th Percentile | 3.6% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| Date (Data in $) | Dividend per Share (annual) | Avg. No. Analysts |
|---|---|---|
| 2023-06-30 | ||
| 2022-06-30 | ||
| 2021-06-30 | 1.06 | 1.00 |
| 2020-06-30 | 1.07 | 3.00 |
| 2019-06-30 | 1.04 | 4.00 |
| Date (Data in $) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2019-03-12 | 1.060 | 1.158 |
| 2018-11-14 | 1.060 | 1.285 |
| 2018-08-22 | 1.000 | 1.312 |
| 2018-05-30 | 1.000 | 1.134 |
| 2018-03-20 | 1.000 | 1.139 |
| 2017-11-15 | 1.000 | 1.187 |
| 2017-08-23 | 0.960 | 1.087 |
| 2017-05-31 | 0.960 | 1.181 |
| 2017-03-02 | 0.960 | 1.359 |
| 2016-11-03 | 0.960 | 1.404 |
| 2016-11-02 | 0.960 | 1.340 |
| 2016-08-17 | 0.920 | 1.246 |
| 2016-05-25 | 0.920 | 1.266 |
| 2016-04-28 | 0.920 | 1.592 |
| 2016-04-27 | 0.920 | 1.554 |
| 2016-02-25 | 0.920 | 1.797 |
| 2015-11-11 | 0.920 | 2.609 |
| 2015-08-20 | 0.880 | 1.861 |
| 2015-06-04 | 0.880 | 1.540 |
| 2015-03-12 | 0.880 | 1.366 |
| 2014-11-14 | 0.880 | 1.292 |
| 2014-08-28 | 0.840 | 1.258 |
| 2014-05-30 | 0.840 | 1.139 |
| 2014-03-14 | 0.840 | 1.290 |
| 2013-11-20 | 0.840 | 1.573 |
| 2013-09-16 | 0.800 | 1.633 |
| 2013-05-29 | 0.800 | 1.577 |
| 2013-03-14 | 0.800 | 1.381 |
| 2012-11-14 | 0.800 | 1.056 |
| 2012-09-04 | 0.600 | 0.661 |
| 2012-05-25 | 0.600 | 0.778 |
| 2012-03-14 | 0.600 | 0.956 |
| 2011-11-16 | 0.600 | 0.839 |
| 2011-08-30 | 0.440 | 0.608 |
| 2011-05-26 | 0.440 | 0.697 |
| 2011-02-28 | 0.440 | 0.808 |
| 2010-11-17 | 0.440 | 0.874 |
| 2010-09-14 | 0.360 | 0.719 |
| 2010-05-25 | 0.360 | 0.756 |
| 2010-03-10 | 0.360 | 0.740 |
| 2009-11-18 | 0.360 | 0.761 |
| 2009-08-27 | 0.320 | 0.690 |
| 2009-06-02 | 0.320 | 0.772 |
| 2009-04-24 | 0.320 | 0.787 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Dividends per share have been stable in the past 10 years.
- Dividends per share have increased over the past 10 years.
Income/ dividend checks
We assess Royal Gold's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- How sustainable is the dividend, can Royal Gold afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) Royal Gold has a total score of 3/6, see the detailed checks below.
Full details on the Dividends part of the Simply Wall St company analysis model.
RGLD Management
CEO
| COMPENSATION | $3,905,910 |
| AGE | 56 |
| TENURE AS CEO | 12.8 years |
CEO Bio
Mr. Tony Alan Jensen serves as the Chief Executive Officer and President of RG Exchangeco Inc. Mr. Jensen has been the President and Chief Executive Officer of Royal Gold, Inc. since August 2003 and since July 1, 2006 respectively. He served as the Chief Operating Officer of Royal Gold Inc. since August 2003 until June 2006. He has more than 20 years’ experience in the mining industry and served as Mine General Manager for Placer Dome''s Cortez Gold Mines, in Nevada. During his career with Placer Dome, Mr. Jensen served various senior operating positions domestically and internationally, as well as corporate positions in San Francisco, California and Santiago, Chile. Prior to his posting at Cortez Cortez Gold Mines, in Nevada, he served as the Director of Finance and Strategic Growth for Placer Dome Latin America from 1995 to 1999. He serves as a Director of RG Exchangeco Inc. Prior to 1995, He held various engineering, operational management and corporate experience at Placer Dome US. He has been a Non Independent Director of Royal Gold, Inc. since August 25, 2004. He was Mine General Manager at Cortez Joint Venture from 1999 to 2003. He has been a member of the Nevada Mining Association Executive Committee and Board since 1999 and served as Chairman of the Nevada Mining Association from 2001 to 2002. He serves as the Chairman of RGLD Gold AG. He serves as Chairman at the South Dakota School of Mines Industrial Advisory Board. He served as an Independent Director at Golden Star Resources, Ltd. from June 13, 2012 to May 6, 2017. He holds a B.S. degree in Mining Engineering from South Dakota School of Mines and also holds a Certificate in Finance from Golden Gate University in San Francisco.
CEO Compensation
- Tony's compensation has increased whilst company is loss making.
- Tony's remuneration is lower than average for companies of similar size in United States of America.
Management Team Tenure
Average tenure and age of the Royal Gold management team in years:
- The tenure for the Royal Gold management team is about average.
Management Team
Tony Jensen
President
$4M
56
12.8 yrs
Bill Heissenbuttel
CFO & VP of Strategy
$2M
53
0.8 yrs
Mark Isto
Vice President of Operations
$1M
58
2.8 yrs
Bruce Kirchhoff
VP, General Counsel & Secretary
$1M
59
12.2 yrs
Jason Hynes
Director of Business Development & Global Sales
39
5.8 yrs
Paul Libner
Controller & Treasurer
0.8 yrs
Alistair Baker
Director of Business Development
4.1 yrs
Board of Directors Tenure
Average tenure and age of the Royal Gold board of directors in years:
- The tenure for the Royal Gold board of directors is about average.
Board of Directors
Bill Hayes
Chairman of the Board
$369K
73
4.9 yrs
Tony Jensen
President
$4M
56
15.3 yrs
Ron Vance
Independent Director
$245K
66
6 yrs
C. McArthur
Independent Director
$238K
63
5.1 yrs
Chris Thompson
Independent Director
$239K
70
4.9 yrs
Jamie Sokalsky
Independent Director
$239K
61
3.7 yrs
Sybil Veenman
Independent Director
$245K
54
2.3 yrs
Who owns this company?
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price ($) | Value ($) | |
|---|---|---|---|---|---|---|---|---|---|---|
| 27. Sep 18 | Buy | Sybil Veenman | Individual | 26. Sep 18 | 26. Sep 18 | 500 | $78.11 | $39,055 | ||
| 17. Sep 18 | Buy | Jamie Sokalsky | Individual | 17. Sep 18 | 17. Sep 18 | 2,000 | $77.18 | $154,360 | ||
| 15. Aug 18 | Buy | Jamie Sokalsky | Individual | 15. Aug 18 | 15. Aug 18 | 2,000 | $77.25 | $154,500 | ||
| 29. Jun 18 | Sell | William Heissenbuttel | Individual | 29. Jun 18 | 29. Jun 18 | -4,091 | $93.14 | $-381,036 | ||
| 28. Jun 18 | Sell | William Heissenbuttel | Individual | 27. Jun 18 | 27. Jun 18 | -6,360 | $91.87 | $-584,293 | ||
| 20. Jun 18 | Sell | William Heissenbuttel | Individual | 20. Jun 18 | 20. Jun 18 | -6,480 | $91.91 | $-595,577 | ||
| 01. Jun 18 | Sell | Bruce Kirchhoff | Individual | 01. Jun 18 | 01. Jun 18 | -760 | $89.93 | $-68,347 | ||
| 01. Jun 18 | Sell | Karli Anderson | Individual | 01. Jun 18 | 01. Jun 18 | -1,049 | $89.77 | $-94,169 | ||
Management checks
We assess Royal Gold's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) Royal Gold has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.
Note: We use the top 6 management executives and board members in our calculations.
Note 2: Insider trading include any internal stakeholders and these transactions .
Full details on the Management part of the Simply Wall St company analysis model.
RGLD News
Simply Wall St News
Should You Be Pleased About The CEO Pay At Royal Gold, Inc.'s (NASDAQ:RGLD)
has a market capitalization of US$6.2b, and pays its CEO total annual compensation worth US$3.9m. … While this analysis focuses on total compensation, it's worth noting the salary is lower, valued at US$750k … We examined companies with market caps from US$4.0b to US$12b, and discovered that the median CEO total compensation of that group was US$6.4m.
Simply Wall St - – Full articleWhat Kind Of Shareholder Appears On The Royal Gold, Inc.'s (NASDAQ:RGLD) Shareholder Register?
With a market capitalization of US$5.9b, Royal Gold is rather large. … We'd expect to see institutional investors on the register. … Check out our latest analysis for Royal Gold
Simply Wall St - – Full articleIf You Had Bought Royal Gold Stock Three Years Ago, You Could Pocket A 91% Gain Today
Given that Royal Gold didn't make a profit in the last twelve months, we'll focus on revenue growth to form a quick view of its business development. … As you can imagine, fast revenue growth, when maintained, often leads to fast profit growth. … Royal Gold's revenue trended up 9.8% each year over three years.
Simply Wall St - – Full articleConsider This Before Buying Royal Gold, Inc. (NASDAQ:RGLD) For The 1.2% Dividend
A sizeable part of portfolio returns can be produced by dividend stocks due to their contribution to compounding returns in the long run. … Let's take a look at Royal Gold in more detail. … Check out our latest analysis for Royal Gold?
Simply Wall St - – Full articleIs Royal Gold, Inc.'s (NASDAQ:RGLD) Liquidity Good Enough?
Mid-caps stocks, like Royal Gold, Inc. … (NASDAQ:RGLD) with a market capitalization of US$5.5b, aren’t the focus of most investors who prefer to direct their investments towards either large-cap or small-cap stocks. … While they are less talked about as an investment category, mid-cap risk-adjusted returns have generally been better than more commonly focused stocks that fall into the small- or large-cap categories.
Simply Wall St - – Full articleNeed To Know: Royal Gold, Inc. (NASDAQ:RGLD) Insiders Have Been Selling Shares
So shareholders might well want to know whether insiders have been buying or selling shares in Royal Gold, Inc. … That means that an insider was selling shares at around the current price of US$76.62. … In total, Royal Gold insiders sold more than they bought over the last year
Simply Wall St - – Full articleDoes Royal Gold Inc's (NASDAQ:RGLD) CEO Salary Compare Well With Others?
This analysis aims first to contrast CEO compensation with other companies that have similar market capitalization. … How Does Tony Jensen's Compensation Compare With Similar Sized Companies. … At the time of writing our data says that Royal Gold Inc has a market cap of US$4.7b, and is paying total annual CEO compensation of US$3.9m.
Simply Wall St - – Full articleZooming in on NASDAQ:RGLD's 1.3% Dividend Yield
A large part of investment returns can be generated by dividend-paying stock given their role in compounding returns over time. … Historically, Royal Gold Inc (NASDAQ:RGLD) has been paying a dividend to shareholders. … Let's dig deeper into whether Royal Gold should have a place in your portfolio.
Simply Wall St - – Full articleHas Royal Gold Inc (NASDAQ:RGLD) Got Enough Cash?
Mid-caps stocks, like Royal Gold Inc (NASDAQ:RGLD) with a market capitalization of US$5.0b, aren’t the focus of most investors who prefer to direct their investments towards either large-cap or small-cap stocks. … Don’t forget that this is a general and concentrated examination of Royal Gold's financial health, so you should conduct further analysis. … Check out our latest analysis for Royal Gold
Simply Wall St - – Full articleIs Royal Gold Inc's (NASDAQ:RGLD) CEO Incentives Align With Yours?
Leading Royal Gold Inc (NASDAQ:RGLD) as the CEO, Tony Jensen took the company to a valuation of US$5.51b. … Understanding how CEOs are incentivised to run and grow their company is an important aspect of investing in a stock. … CEOs leading companies of similar size and profitability
Simply Wall St - – Full articleRGLD Company Info
Description
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. As of August 1, 2018, the company owned interests in 191 properties on 6 continents, including interests on 40 producing mines and 18 development stage projects. Its principal producing stream and royalty interests on properties are located in the United States, Canada, Chile, the Dominican Republic, Ghana, and Mexico. The company also holds stream and royalty interests in mines and projects in other countries, including Argentina, Australia, Bolivia, Brazil, Burkina Faso, Guatemala, Honduras, Macedonia, Nicaragua, Peru, Russia, Spain, and Tunisia. Royal Gold, Inc. was founded in 1981 and is based in Denver, Colorado.
Details
| Name: | Royal Gold, Inc. |
| RGLD | |
| Exchange: | NasdaqGS |
| Founded: | 1981 |
| $5,686,870,392 | |
| 65,516,940 | |
| Website: | http://www.royalgold.com |
| Address: |
Royal Gold, Inc. 1660 Wynkoop Street, Suite 1000, Denver, Colorado, 80202, United States |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| NasdaqGS | RGLD | Common Stock | Nasdaq Global Select | US | USD | 09. Jun 1981 | |
| DB | RG3 | Common Stock | Deutsche Boerse AG | DE | EUR | 09. Jun 1981 | |
| LSE | 0KXS | Common Stock | London Stock Exchange | GB | USD | 09. Jun 1981 | |
| BMV | RGLD * | Common Stock | Bolsa Mexicana de Valores | MX | MXN | 09. Jun 1981 |
Number of employees
Current staff
Industry
| Gold | |
| Materials |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/04/23 23:43 |
| End of day share price update: | 2019/04/23 00:00 |
| Last estimates confirmation: | 2019/04/23 |
| Last earnings filing: | 2019/02/07 |
| Last earnings reported: | 2018/12/31 |
| Last annual earnings reported: | 2018/06/30 |
All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.
