Oregon Public Employees Retirement Fund grew its holdings in shares of Royal Gold, Inc. (NASDAQ:RGLD – Free Report) (TSE:RGL) by 21.4% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 16,134 shares of the basic materials company’s stock after purchasing an additional 2,843 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Royal Gold were worth $3,586,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of the business. Capital World Investors grew its stake in Royal Gold by 1.0% during the third quarter. Capital World Investors now owns 9,055,075 shares of the basic materials company’s stock worth $1,816,267,000 after buying an additional 93,282 shares during the period. Vanguard Group Inc. grew its stake in Royal Gold by 25.0% during the fourth quarter. Vanguard Group Inc. now owns 8,398,944 shares of the basic materials company’s stock worth $1,867,001,000 after buying an additional 1,681,577 shares during the period. Van ECK Associates Corp grew its stake in Royal Gold by 104.1% during the third quarter. Van ECK Associates Corp now owns 4,994,944 shares of the basic materials company’s stock worth $1,001,885,000 after buying an additional 2,547,076 shares during the period. State Street Corp grew its stake in Royal Gold by 5.4% during the third quarter. State Street Corp now owns 3,321,868 shares of the basic materials company’s stock worth $666,300,000 after buying an additional 170,430 shares during the period. Finally, Northern Trust Corp grew its stake in Royal Gold by 0.7% during the third quarter. Northern Trust Corp now owns 1,030,501 shares of the basic materials company’s stock worth $206,698,000 after buying an additional 6,710 shares during the period. 83.65% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity at Royal Gold
In other Royal Gold news, Director William M. Hayes sold 4,173 shares of the stock in a transaction on Friday, February 20th. The shares were sold at an average price of $277.07, for a total transaction of $1,156,213.11. Following the transaction, the director directly owned 6,129 shares in the company, valued at $1,698,162.03. This represents a 40.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Randy Shefman sold 1,000 shares of the stock in a transaction on Monday, May 11th. The shares were sold at an average price of $243.74, for a total transaction of $243,740.00. Following the transaction, the senior vice president owned 9,082 shares in the company, valued at $2,213,646.68. This trade represents a 9.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 8,573 shares of company stock valued at $2,370,831. 0.35% of the stock is owned by insiders.
Royal Gold Price Performance
Royal Gold (NASDAQ:RGLD – Get Free Report) (TSE:RGL) last announced its earnings results on Wednesday, February 18th. The basic materials company reported $1.92 earnings per share for the quarter, missing the consensus estimate of $2.68 by ($0.76). Royal Gold had a net margin of 48.59% and a return on equity of 12.63%. The firm had revenue of $310.83 million during the quarter, compared to analysts’ expectations of $425.47 million. During the same quarter last year, the company posted $1.63 earnings per share. Royal Gold’s revenue for the quarter was up 85.2% compared to the same quarter last year. Equities research analysts anticipate that Royal Gold, Inc. will post 11.65 earnings per share for the current fiscal year.
Royal Gold Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 16th. Shareholders of record on Thursday, April 2nd were paid a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Thursday, April 2nd. Royal Gold’s dividend payout ratio is 22.65%.
Analysts Set New Price Targets
Several brokerages have recently weighed in on RGLD. Zacks Research downgraded shares of Royal Gold from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 5th. Scotiabank downgraded shares of 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. National Bank Financial decreased their target price on shares of Royal Gold from $350.00 to $340.00 and set an “outperform” rating for the company in a research note on Friday, April 17th. Weiss Ratings restated a “buy (b)” rating on shares of Royal Gold in a research note on Tuesday, April 21st. Finally, Canadian Imperial Bank of Commerce restated a “neutral” rating and issued a $330.00 target price on shares of Royal Gold in a research note on Wednesday, February 4th. Eight analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $273.64.
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.
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