NorthRock Partners LLC Acquires 913 Shares of Royal Gold, Inc. $RGLD

NorthRock Partners LLC raised its stake in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 57.6% in the second quarter, Holdings Channel reports. The fund owned 2,499 shares of the basic materials company’s stock after purchasing an additional 913 shares during the quarter. NorthRock Partners LLC’s holdings in Royal Gold were worth $444,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in RGLD. WPG Advisers LLC acquired a new position in Royal Gold during the 1st quarter worth approximately $27,000. Alpine Bank Wealth Management acquired a new stake in Royal Gold in the first quarter valued at approximately $32,000. Blue Trust Inc. grew its stake in shares of Royal Gold by 56.8% during the second quarter. Blue Trust Inc. now owns 196 shares of the basic materials company’s stock worth $35,000 after buying an additional 71 shares during the last quarter. Banque Cantonale Vaudoise acquired a new position in shares of Royal Gold during the first quarter worth $34,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of Royal Gold in the 1st quarter valued at $40,000. 83.65% of the stock is currently owned by institutional investors and hedge funds.

Royal Gold Price Performance

Shares of RGLD stock opened at $202.24 on Thursday. The stock has a market capitalization of $13.31 billion, a PE ratio of 29.65, a PEG ratio of 1.58 and a beta of 0.41. The business’s 50 day simple moving average is $185.82 and its 200 day simple moving average is $176.74. Royal Gold, Inc. has a one year low of $130.67 and a one year high of $206.49.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last issued its quarterly earnings results on Wednesday, August 6th. The basic materials company reported $1.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.70 by $0.11. Royal Gold had a net margin of 56.24% and a return on equity of 13.30%. The firm had revenue of $209.64 million for the quarter, compared to the consensus estimate of $186.63 million. During the same quarter in the previous year, the company earned $1.25 EPS. The company’s revenue for the quarter was up 20.4% on a year-over-year basis. As a group, research analysts expect that Royal Gold, Inc. will post 6.2 earnings per share for the current year.

Royal Gold Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Friday, October 3rd will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Friday, October 3rd. Royal Gold’s dividend payout ratio (DPR) is presently 26.39%.

Analyst Upgrades and Downgrades

RGLD has been the topic of a number of research reports. CIBC boosted their price objective on Royal Gold from $225.00 to $250.00 and gave the stock a “neutral” rating in a research report on Friday, October 10th. TD Securities reissued a “buy” rating and set a $237.00 price target (up from $229.00) on shares of Royal Gold in a research note on Friday, August 8th. Zacks Research downgraded Royal Gold from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 19th. Wall Street Zen upgraded shares of Royal Gold from a “hold” rating to a “buy” rating in a research report on Saturday, August 30th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Royal Gold in a report on Wednesday, October 8th. Six equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Royal Gold has an average rating of “Moderate Buy” and a consensus target price of $203.00.

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.