OppenheimerFunds Inc. Has $23.12 Million Position in Royal Gold, Inc (NASDAQ:RGLD)

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OppenheimerFunds Inc. raised its stake in shares of Royal Gold, Inc (NASDAQ:RGLD) (TSE:RGL) by 3.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 249,071 shares of the basic materials company’s stock after acquiring an additional 8,203 shares during the period. OppenheimerFunds Inc. owned approximately 0.38% of Royal Gold worth $23,124,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in RGLD. Gables Capital Management Inc. acquired a new position in Royal Gold in the 1st quarter valued at $107,000. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Royal Gold during the 2nd quarter worth $151,000. Pendal Group Ltd grew its stake in shares of Royal Gold by 100.3% during the 2nd quarter. Pendal Group Ltd now owns 2,069 shares of the basic materials company’s stock worth $192,000 after purchasing an additional 1,036 shares during the period. Advisor Partners LLC acquired a new position in shares of Royal Gold during the 2nd quarter worth $219,000. Finally, CIBC Asset Management Inc acquired a new position in shares of Royal Gold during the 2nd quarter worth $220,000. Hedge funds and other institutional investors own 74.87% of the company’s stock.

Shares of NASDAQ:RGLD opened at $76.23 on Tuesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.45 and a quick ratio of 2.27. Royal Gold, Inc has a 52-week low of $71.91 and a 52-week high of $98.53. The company has a market capitalization of $5.05 billion, a price-to-earnings ratio of 43.31, a PEG ratio of 3.97 and a beta of 0.43.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last issued its quarterly earnings data on Wednesday, August 8th. The basic materials company reported $0.43 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.43. Royal Gold had a negative net margin of 24.65% and a positive return on equity of 5.17%. The company had revenue of $116.20 million during the quarter, compared to the consensus estimate of $115.57 million. During the same quarter last year, the company earned $0.31 earnings per share. Royal Gold’s revenue for the quarter was up 6.7% on a year-over-year basis. On average, analysts anticipate that Royal Gold, Inc will post 1.94 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 19th. Stockholders of record on Friday, October 5th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date is Thursday, October 4th. Royal Gold’s payout ratio is currently 56.82%.

RGLD has been the topic of a number of research reports. Zacks Investment Research raised shares of Royal Gold from a “hold” rating to a “buy” rating and set a $104.00 price objective on the stock in a research note on Monday, July 9th. Raymond James lowered their price objective on shares of Royal Gold from $99.00 to $98.00 and set an “outperform” rating on the stock in a research note on Monday, September 17th. ValuEngine lowered shares of Royal Gold from a “buy” rating to a “hold” rating in a report on Thursday, July 26th. Desjardins restated a “buy” rating and issued a $100.00 target price on shares of Royal Gold in a report on Wednesday, July 18th. Finally, National Bank Financial reduced their target price on shares of Royal Gold from $102.50 to $97.50 and set a “sector perform” rating on the stock in a report on Saturday, July 14th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $98.86.

In related news, Director Sybil E. Veenman bought 500 shares of the business’s stock in a transaction on Wednesday, September 26th. The shares were bought at an average cost of $78.11 per share, for a total transaction of $39,055.00. Following the completion of the purchase, the director now owns 2,515 shares of the company’s stock, valued at approximately $196,446.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jamie C. Sokalsky bought 2,000 shares of the business’s stock in a transaction on Monday, September 17th. The stock was bought at an average price of $77.18 per share, for a total transaction of $154,360.00. Following the completion of the purchase, the director now directly owns 10,185 shares of the company’s stock, valued at approximately $786,078.30. The disclosure for this purchase can be found here. Insiders have purchased 4,500 shares of company stock worth $347,915 over the last 90 days. 1.12% of the stock is currently owned by company insiders.

About Royal Gold

Royal Gold, Inc engages in the acquisition and management of metal streams, royalties, and similar interests. It operates through the Acquisition and Management of Stream Interests and Acquisition and Management of Royalty Interests segments. The Acquisition and Management of Stream Interests segment involves in the purchase agreement that provides, in exchange for an upfront deposit payment, the right to purchase all or a portion of one or more metals.

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Institutional Ownership by Quarter for Royal Gold (NASDAQ:RGLD)

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