Royal Bank of Canada grew its holdings in Royal Gold, Inc. (NASDAQ:RGLD – Get Rating) (TSE:RGL) by 30.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 144,909 shares of the basic materials company’s stock after purchasing an additional 33,827 shares during the period. Royal Bank of Canada owned about 0.22% of Royal Gold worth $13,596,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in RGLD. Bluefin Capital Management LLC bought a new position in shares of Royal Gold in the third quarter valued at $255,000. Point72 Hong Kong Ltd bought a new position in shares of Royal Gold in the third quarter valued at $266,000. OLD Mission Capital LLC bought a new position in shares of Royal Gold in the third quarter valued at $4,214,000. Penserra Capital Management LLC grew its stake in shares of Royal Gold by 94.1% in the third quarter. Penserra Capital Management LLC now owns 462 shares of the basic materials company’s stock valued at $43,000 after buying an additional 224 shares in the last quarter. Finally, Nuveen Asset Management LLC grew its stake in shares of Royal Gold by 1.1% in the third quarter. Nuveen Asset Management LLC now owns 240,937 shares of the basic materials company’s stock valued at $22,604,000 after buying an additional 2,738 shares in the last quarter. 78.13% of the stock is currently owned by institutional investors and hedge funds.
Royal Gold Trading Down 3.9 %
Shares of Royal Gold stock opened at $112.90 on Wednesday. The firm has a 50-day moving average of $122.72 and a 200-day moving average of $107.72. The stock has a market cap of $7.41 billion, a PE ratio of 31.02, a PEG ratio of 3.12 and a beta of 0.63. Royal Gold, Inc. has a 52-week low of $84.54 and a 52-week high of $147.70. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.72 and a current ratio of 2.92.
Royal Gold Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, April 21st. Investors of record on Thursday, April 6th will be paid a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date of this dividend is Wednesday, April 5th. Royal Gold’s dividend payout ratio (DPR) is presently 41.21%.
Analysts Set New Price Targets
RGLD has been the subject of several analyst reports. BMO Capital Markets raised their target price on shares of Royal Gold from $134.00 to $135.00 and gave the company a “market perform” rating in a research note on Wednesday, January 11th. National Bank Financial lifted their price objective on shares of Royal Gold from C$120.00 to C$150.00 in a research report on Friday, January 13th. Raymond James lifted their price objective on shares of Royal Gold from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 31st. TD Securities lifted their price objective on shares of Royal Gold from $135.00 to $140.00 and gave the stock a “buy” rating in a research report on Friday, January 6th. Finally, National Bankshares lifted their price objective on shares of Royal Gold from $150.00 to $155.00 and gave the stock a “sector perform” rating in a research report on Friday, February 17th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $140.20.
Insider Activity at Royal Gold
In related news, CFO Paul Libner sold 250 shares of the business’s stock in a transaction dated Tuesday, January 3rd. The stock was sold at an average price of $115.00, for a total value of $28,750.00. Following the completion of the transaction, the chief financial officer now owns 14,265 shares of the company’s stock, valued at $1,640,475. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.38% of the stock is owned by insiders.
About Royal Gold
Royal Gold, Inc engages in the acquisition and management of precious metal streams, royalties, and similar interests. It operates through the Acquisition and Management of Stream Interests and Acquisition and Management of Royalty Interests segments. The Acquisition and Management of Stream Interests segment focuses on metal streams, which are purchase agreements that provide, in exchange for an upfront deposit payment, the right to purchase all or a portion of one or more metals produced, at a price determined for the life of the transaction.
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