Zurcher Kantonalbank Zurich Cantonalbank Has $2.23 Million Position in Royal Gold, Inc. (NASDAQ:RGLD)

Zurcher Kantonalbank Zurich Cantonalbank lessened its position in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 8.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 15,862 shares of the basic materials company’s stock after selling 1,452 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Royal Gold were worth $2,225,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in RGLD. Bank of New York Mellon Corp lifted its position in shares of Royal Gold by 34.1% in the second quarter. Bank of New York Mellon Corp now owns 834,986 shares of the basic materials company’s stock worth $104,507,000 after purchasing an additional 212,316 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Royal Gold by 24.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 806,872 shares of the basic materials company’s stock valued at $100,991,000 after acquiring an additional 156,048 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Royal Gold by 38.4% in the second quarter. AQR Capital Management LLC now owns 483,493 shares of the basic materials company’s stock valued at $60,514,000 after acquiring an additional 134,120 shares during the last quarter. Driehaus Capital Management LLC bought a new stake in Royal Gold during the second quarter worth about $15,559,000. Finally, International Assets Investment Management LLC boosted its position in Royal Gold by 13,968.8% during the third quarter. International Assets Investment Management LLC now owns 84,694 shares of the basic materials company’s stock valued at $11,883,000 after purchasing an additional 84,092 shares during the last quarter. 83.65% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Jefferies Financial Group boosted their price target on Royal Gold from $141.00 to $154.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. Scotiabank upped their price target on shares of Royal Gold from $148.00 to $157.00 and gave the stock a “sector perform” rating in a research report on Monday, August 19th. Raymond James increased their price target on shares of Royal Gold from $184.00 to $186.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. StockNews.com upgraded shares of Royal Gold from a “hold” rating to a “buy” rating in a research note on Thursday, September 19th. Finally, TD Securities raised their target price on shares of Royal Gold from $181.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Royal Gold presently has an average rating of “Hold” and a consensus price target of $165.43.

Royal Gold Stock Up 0.7 %

Royal Gold stock opened at $148.37 on Wednesday. The company’s 50-day moving average price is $145.61 and its two-hundred day moving average price is $137.47. The stock has a market cap of $9.76 billion, a P/E ratio of 34.03, a P/E/G ratio of 1.08 and a beta of 0.89. Royal Gold, Inc. has a twelve month low of $100.55 and a twelve month high of $155.10.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last announced its earnings results on Wednesday, November 6th. The basic materials company reported $1.47 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.13. The company had revenue of $193.84 million for the quarter, compared to analyst estimates of $184.12 million. Royal Gold had a return on equity of 10.18% and a net margin of 42.93%. The firm’s quarterly revenue was up 39.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.76 earnings per share. Equities analysts anticipate that Royal Gold, Inc. will post 5.14 earnings per share for the current fiscal year.

Royal Gold Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Friday, January 3rd will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date of this dividend is Friday, January 3rd. This is a boost from Royal Gold’s previous quarterly dividend of $0.40. Royal Gold’s payout ratio is presently 36.70%.

Insider Activity at Royal Gold

In other news, SVP Daniel Breeze sold 840 shares of Royal Gold stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $143.43, for a total value of $120,481.20. Following the completion of the sale, the senior vice president now directly owns 16,842 shares in the company, valued at approximately $2,415,648.06. The trade was a 4.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director William M. Hayes sold 1,984 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $147.05, for a total value of $291,747.20. Following the sale, the director now directly owns 9,268 shares in the company, valued at $1,362,859.40. This represents a 17.63 % decrease in their position. The disclosure for this sale can be found here. 0.52% of the stock is currently owned by corporate insiders.

Royal Gold 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.