Empowered Funds LLC reduced its stake in Royal Gold, Inc (NASDAQ:RGLD) (TSE:RGL) by 14.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,290 shares of the basic materials company’s stock after selling 1,565 shares during the quarter. Empowered Funds LLC’s holdings in Royal Gold were worth $1,152,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Wealth Quarterback LLC purchased a new position in Royal Gold during the 4th quarter worth approximately $25,000. NEXT Financial Group Inc raised its position in Royal Gold by 44.8% during the 1st quarter. NEXT Financial Group Inc now owns 304 shares of the basic materials company’s stock worth $27,000 after buying an additional 94 shares during the last quarter. Exane Derivatives raised its position in Royal Gold by 194.4% during the 1st quarter. Exane Derivatives now owns 795 shares of the basic materials company’s stock worth $70,000 after buying an additional 525 shares during the last quarter. Rockefeller Capital Management L.P. purchased a new position in Royal Gold during the 1st quarter worth approximately $88,000. Finally, Fifth Third Bancorp raised its position in Royal Gold by 13.2% during the 1st quarter. Fifth Third Bancorp now owns 1,037 shares of the basic materials company’s stock worth $91,000 after buying an additional 121 shares during the last quarter. 78.42% of the stock is owned by institutional investors.
A number of equities analysts have issued reports on the stock. Cfra raised their price target on shares of Royal Gold from $136.00 to $151.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. ValuEngine cut shares of Royal Gold from a “sell” rating to a “strong sell” rating in a research note on Monday, March 30th. Canaccord Genuity reaffirmed a “hold” rating and set a $108.00 price objective on shares of Royal Gold in a research note on Thursday, May 7th. Royal Bank of Canada raised shares of Royal Gold from an “underperform” rating to a “sector perform” rating and raised their price objective for the stock from $90.00 to $115.00 in a research note on Friday, May 15th. Finally, Scotiabank raised shares of Royal Gold from a “sector underperform” rating to a “sector perform” rating and set a $112.00 price objective on the stock in a research note on Thursday, March 26th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $127.75.
Royal Gold stock opened at $126.95 on Friday. The company’s fifty day moving average price is $122.98 and its 200 day moving average price is $113.26. Royal Gold, Inc has a 1 year low of $59.78 and a 1 year high of $139.63. The stock has a market capitalization of $8.32 billion, a P/E ratio of 47.19, a P/E/G ratio of 3.62 and a beta of 0.80. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.78 and a current ratio of 3.02.
Royal Gold (NASDAQ:RGLD) (TSE:RGL) last released its quarterly earnings results on Wednesday, May 6th. The basic materials company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.01. Royal Gold had a net margin of 35.75% and a return on equity of 6.93%. The firm had revenue of $136.40 million for the quarter, compared to analysts’ expectations of $133.59 million. During the same quarter last year, the company earned $0.44 EPS. The firm’s revenue for the quarter was up 24.2% compared to the same quarter last year. Sell-side analysts predict that Royal Gold, Inc will post 2.35 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, July 16th. Investors of record on Thursday, July 2nd were paid a $0.28 dividend. The ex-dividend date of this dividend was Wednesday, July 1st. This represents a $1.12 dividend on an annualized basis and a yield of 0.88%. Royal Gold’s dividend payout ratio is currently 77.24%.
Royal Gold Profile
Royal Gold, Inc, together with its subsidiaries, acquires and manages precious metal streams, royalties, and related interests. It focuses on acquiring stream and royalty interests or to finance projects that are in production or in development stage in exchange for stream or royalty interests, which primarily consists of gold, silver, copper, nickel, zinc, lead, cobalt, and molybdenum.
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