South Dakota Investment Council continued to hold its position in shares of Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,400 shares of the basic materials company’s stock at the end of the first quarter. South Dakota Investment Council’s holdings in Royal Gold were worth $238,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Norges Bank purchased a new position in shares of Royal Gold during the fourth quarter worth about $172,371,000. Van ECK Associates Corp boosted its position in shares of Royal Gold by 15.8% in the first quarter. Van ECK Associates Corp now owns 4,901,086 shares of the basic materials company’s stock worth $343,321,000 after buying an additional 667,497 shares during the period. State Street Corp boosted its position in shares of Royal Gold by 8.8% in the fourth quarter. State Street Corp now owns 2,246,159 shares of the basic materials company’s stock worth $142,290,000 after buying an additional 181,525 shares during the period. First Eagle Investment Management LLC boosted its position in shares of Royal Gold by 5.0% in the first quarter. First Eagle Investment Management LLC now owns 3,406,065 shares of the basic materials company’s stock worth $238,595,000 after buying an additional 162,884 shares during the period. Finally, Guggenheim Capital LLC boosted its position in shares of Royal Gold by 128.6% in the fourth quarter. Guggenheim Capital LLC now owns 214,807 shares of the basic materials company’s stock worth $13,609,000 after buying an additional 120,835 shares during the period. 70.72% of the stock is currently owned by institutional investors and hedge funds.
Shares of Royal Gold, Inc. (NASDAQ:RGLD) traded down 0.03% during trading on Tuesday, hitting $75.32. 95,615 shares of the stock were exchanged. The firm has a market capitalization of $4.92 billion, a price-to-earnings ratio of 48.13 and a beta of 0.73. The stock’s 50 day moving average price is $76.41 and its 200 day moving average price is $70.33. Royal Gold, Inc. has a 52 week low of $60.21 and a 52 week high of $87.74.
Royal Gold (NASDAQ:RGLD) (TSE:RGL) last released its earnings results on Wednesday, May 10th. The basic materials company reported $0.36 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by $0.02. Royal Gold had a net margin of 23.93% and a return on equity of 4.22%. The business had revenue of $107 million for the quarter, compared to the consensus estimate of $105.14 million. During the same period in the prior year, the business posted $0.29 EPS. Royal Gold’s revenue for the quarter was up 14.4% on a year-over-year basis. On average, equities analysts predict that Royal Gold, Inc. will post $1.64 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 21st. Investors of record on Friday, July 7th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.27%. The ex-dividend date of this dividend is Wednesday, July 5th. Royal Gold’s dividend payout ratio is currently 61.15%.
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A number of analysts have weighed in on RGLD shares. Zacks Investment Research cut shares of Royal Gold from a “hold” rating to a “sell” rating in a research note on Thursday, April 6th. Barclays PLC reaffirmed an “overweight” rating and set a $83.00 target price (up previously from $82.00) on shares of Royal Gold in a research note on Saturday, April 22nd. National Bank Financial cut shares of Royal Gold from an “outperform” rating to a “sector perform” rating and boosted their target price for the stock from $80.00 to $82.50 in a research note on Thursday, April 20th. Scotiabank boosted their target price on shares of Royal Gold from $81.00 to $115.00 and gave the stock a “sector perform” rating in a research note on Friday, May 12th. Finally, FBR & Co boosted their target price on shares of Royal Gold from $80.00 to $81.00 and gave the stock an “outperform” rating in a research note on Monday, May 15th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $89.13.
In related news, CEO Tony A. Jensen sold 25,000 shares of the stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $80.00, for a total transaction of $2,000,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Stefan Wenger sold 2,000 shares of the stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $80.06, for a total transaction of $160,120.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 35,000 shares of company stock worth $2,758,220. 1.37% of the stock is owned by insiders.
Royal Gold Company 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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