California Public Employees Retirement System grew its position in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 2.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 158,900 shares of the basic materials company’s stock after acquiring an additional 3,300 shares during the period. California Public Employees Retirement System owned about 0.24% of Royal Gold worth $12,421,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in RGLD. Arcadia Investment Management Corp MI bought a new stake in Royal Gold in the 2nd quarter valued at about $104,000. Almanack Investment Partners LLC. bought a new stake in Royal Gold in the 2nd quarter valued at about $109,000. MUFG Americas Holdings Corp bought a new stake in Royal Gold in the 2nd quarter valued at about $117,000. KBC Group NV bought a new stake in Royal Gold in the 2nd quarter valued at about $142,000. Finally, US Bancorp DE boosted its holdings in Royal Gold by 6.4% in the 2nd quarter. US Bancorp DE now owns 2,120 shares of the basic materials company’s stock valued at $166,000 after purchasing an additional 127 shares during the period. 70.34% of the stock is owned by institutional investors.
Several equities analysts have recently commented on RGLD shares. Zacks Investment Research upgraded shares of Royal Gold from a “hold” rating to a “buy” rating and set a $88.00 target price for the company in a research report on Wednesday, July 12th. Macquarie cut shares of Royal Gold from an “outperform” rating to a “neutral” rating in a research report on Wednesday, July 12th. BidaskClub upgraded shares of Royal Gold from a “hold” rating to a “buy” rating in a research report on Saturday, July 8th. BMO Capital Markets reiterated a “buy” rating and set a $95.00 price objective on shares of Royal Gold in a research report on Thursday, June 29th. Finally, National Bank Financial upped their price objective on shares of Royal Gold from $82.50 to $92.50 and gave the stock a “sector perform” rating in a research report on Thursday, August 10th. One analyst has rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $92.68.
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In related news, CEO Tony A. Jensen sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $85.00, for a total transaction of $2,125,000.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman William M. Hayes sold 10,850 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $86.35, for a total value of $936,897.50. The disclosure for this sale can be found here. Insiders have sold a total of 106,345 shares of company stock worth $9,279,753 in the last 90 days. 1.12% of the stock is currently owned by insiders.
Shares of Royal Gold, Inc. (NASDAQ RGLD) traded down 0.66% on Friday, reaching $88.22. 324,564 shares of the company traded hands. The stock’s 50 day moving average price is $89.76 and its 200-day moving average price is $81.09. Royal Gold, Inc. has a one year low of $60.21 and a one year high of $94.39. The stock has a market capitalization of $5.76 billion, a P/E ratio of 56.92 and a beta of 0.57.
Royal Gold (NASDAQ:RGLD) (TSE:RGL) last posted its earnings results on Wednesday, August 9th. The basic materials company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.02). Royal Gold had a net margin of 23.03% and a return on equity of 4.19%. The firm had revenue of $108.90 million for the quarter, compared to the consensus estimate of $108.72 million. During the same quarter in the prior year, the company posted $0.32 earnings per share. The firm’s revenue was up 15.7% compared to the same quarter last year. Equities analysts forecast that Royal Gold, Inc. will post $1.80 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 20th. Investors of record on Friday, October 6th will be issued a dividend of $0.24 per share. The ex-dividend date is Thursday, October 5th. This represents a $0.96 annualized dividend and a yield of 1.09%. Royal Gold’s payout ratio is presently 61.54%.
Royal Gold Profile
Royal Gold, Inc, together with its subsidiaries, is engaged in acquiring and managing precious metal streams, royalties and similar interests. The Company operates through two segments: Acquisition and Management of Stream Interests, and Acquisition and Management of Royalty Interests. Its assets are located in Canada, Chile, Dominican Republic, Mexico, the United States, Africa, Australia and Other.
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