First Commonwealth Financial Corp PA Makes New Investment in Royal Gold, Inc. $RGLD

First Commonwealth Financial Corp PA purchased a new stake in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 3,512 shares of the basic materials company’s stock, valued at approximately $704,000.

Several other large investors also recently made changes to their positions in the stock. Goldman Sachs Group Inc. lifted its holdings in shares of Royal Gold by 99.5% in the first quarter. Goldman Sachs Group Inc. now owns 168,846 shares of the basic materials company’s stock valued at $27,608,000 after purchasing an additional 84,206 shares in the last quarter. Focus Partners Wealth boosted its holdings in Royal Gold by 51.5% during the first quarter. Focus Partners Wealth now owns 8,465 shares of the basic materials company’s stock worth $1,384,000 after purchasing an additional 2,876 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in Royal Gold by 57.5% during the second quarter. PNC Financial Services Group Inc. now owns 8,134 shares of the basic materials company’s stock valued at $1,447,000 after purchasing an additional 2,971 shares during the last quarter. Geode Capital Management LLC raised its position in Royal Gold by 3.6% during the second quarter. Geode Capital Management LLC now owns 1,751,136 shares of the basic materials company’s stock worth $311,457,000 after acquiring an additional 61,352 shares in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey raised its stake in Royal Gold by 5.6% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 25,060 shares of the basic materials company’s stock valued at $4,457,000 after buying an additional 1,325 shares during the period. Institutional investors own 83.65% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on RGLD shares. Jefferies Financial Group reiterated a “buy” rating and issued a $270.00 price objective on shares of Royal Gold in a report on Sunday, December 7th. Weiss Ratings reiterated a “buy (b)” rating on shares of Royal Gold in a research note on Thursday, January 22nd. TD Cowen boosted their price target on Royal Gold from $261.00 to $263.00 and gave the company a “buy” rating in a research note on Tuesday, November 18th. Zacks Research downgraded shares of Royal Gold from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Finally, Scotiabank cut Royal Gold from a “sector outperform” rating to a “sector perform” rating and set a $335.00 target price for the company. in a research note on Monday, January 26th. Seven equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $251.50.

Royal Gold Trading Down 4.0%

Shares of RGLD stock opened at $259.11 on Monday. Royal Gold, Inc. has a twelve month low of $150.75 and a twelve month high of $306.25. The stock’s fifty day simple moving average is $273.83 and its 200 day simple moving average is $223.80. The company has a quick ratio of 2.91, a current ratio of 3.12 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $21.98 billion, a P/E ratio of 38.05, a P/E/G ratio of 1.56 and a beta of 0.47.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last posted its earnings results on Wednesday, February 18th. The basic materials company reported $1.92 EPS for the quarter, missing the consensus estimate of $2.68 by ($0.76). Royal Gold had a net margin of 45.26% and a return on equity of 11.89%. The firm had revenue of $360.85 million during the quarter, compared to the consensus estimate of $425.47 million. During the same quarter in the prior year, the business posted $1.63 earnings per share. Royal Gold’s revenue for the quarter was up 85.2% compared to the same quarter last year. As a group, sell-side analysts predict that Royal Gold, Inc. will post 6.2 EPS for the current fiscal year.

Royal Gold Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 16th. Stockholders of record on Thursday, April 2nd will be paid a $0.475 dividend. The ex-dividend date of this dividend is Thursday, April 2nd. This represents a $1.90 annualized dividend and a dividend yield of 0.7%. Royal Gold’s dividend payout ratio is presently 27.90%.

Insider Transactions at Royal Gold

In other news, Director William M. Hayes sold 4,173 shares of the firm’s stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $277.07, for a total transaction of $1,156,213.11. Following the completion of the transaction, the director directly owned 6,129 shares in the company, valued at $1,698,162.03. This trade represents a 40.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark Isto sold 2,000 shares of the stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $274.83, for a total transaction of $549,660.00. Following the sale, the director owned 20,043 shares of the company’s stock, valued at approximately $5,508,417.69. This trade represents a 9.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 7,573 shares of company stock worth $2,127,091 over the last ninety days. 0.49% of the stock is owned by insiders.

About Royal Gold

Royal Gold, Inc, headquartered in Denver, Colorado, is a leading precious metals streaming and royalty company. Through its business model, Royal Gold provides upfront financing to mining operators in exchange for the right to purchase a percentage of future metal production at predetermined prices. This structure allows the company to participate in production upside while minimizing exposure to the operating and capital-intensive aspects of mine ownership.

The company’s portfolio encompasses interests in over 200 streams and royalties on projects across North America, South America, Europe, Africa and Australia.