Bank of Montreal Can Raises Stake in Royal Gold, Inc. $RGLD

Bank of Montreal Can increased its stake in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 25.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 106,160 shares of the basic materials company’s stock after buying an additional 21,591 shares during the period. Bank of Montreal Can owned 0.16% of Royal Gold worth $18,879,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. WPG Advisers LLC bought a new position in Royal Gold in the 1st quarter worth about $27,000. Cullen Frost Bankers Inc. raised its stake in shares of Royal Gold by 548.1% during the second quarter. Cullen Frost Bankers Inc. now owns 175 shares of the basic materials company’s stock valued at $31,000 after acquiring an additional 148 shares in the last quarter. Blue Trust Inc. boosted its holdings in shares of Royal Gold by 56.8% in the second quarter. Blue Trust Inc. now owns 196 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 71 shares during the period. Banque Cantonale Vaudoise bought a new position in Royal Gold in the first quarter worth approximately $34,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in Royal Gold in the first quarter worth approximately $40,000. Institutional investors own 83.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on RGLD shares. Zacks Research raised Royal Gold from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 17th. BMO Capital Markets set a $240.00 price target on Royal Gold and gave the company an “outperform” rating in a research note on Tuesday, October 21st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Royal Gold in a research note on Wednesday, October 8th. TD Securities reiterated a “buy” rating and set a $237.00 target price (up from $229.00) on shares of Royal Gold in a report on Friday, August 8th. Finally, CIBC raised their target price on shares of Royal Gold from $225.00 to $250.00 and gave the company a “neutral” rating in a research report on Friday, October 10th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Royal Gold currently has a consensus rating of “Moderate Buy” and a consensus target price of $221.22.

Royal Gold Price Performance

Shares of NASDAQ RGLD opened at $175.82 on Friday. Royal Gold, Inc. has a 1-year low of $130.67 and a 1-year high of $209.42. The business has a fifty day moving average price of $188.68 and a 200 day moving average price of $178.01. The stock has a market capitalization of $11.57 billion, a P/E ratio of 25.78, a price-to-earnings-growth ratio of 0.96 and a beta of 0.39.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last announced its earnings results on Wednesday, November 5th. The basic materials company reported $2.06 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.24). Royal Gold had a return on equity of 13.30% and a net margin of 56.24%.The firm had revenue of $250.23 million during the quarter, compared to the consensus estimate of $275.11 million. During the same quarter in the prior year, the firm posted $1.47 earnings per share. The business’s revenue for the quarter was up 30.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Royal Gold, Inc. will post 6.2 earnings per share for the current fiscal year.

Royal Gold Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 17th. Shareholders of record on Friday, October 3rd were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.0%. The ex-dividend date was Friday, October 3rd. Royal Gold’s dividend payout ratio (DPR) is 24.73%.

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.