State Board of Administration of Florida Retirement System lowered its position in shares of Royal Gold, Inc. (NASDAQ:RGLD – Free Report) (TSE:RGL) by 4.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 71,843 shares of the basic materials company’s stock after selling 2,970 shares during the period. State Board of Administration of Florida Retirement System owned about 0.11% of Royal Gold worth $9,319,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. US Bancorp DE grew its stake in shares of Royal Gold by 3.2% during the first quarter. US Bancorp DE now owns 3,913 shares of the basic materials company’s stock worth $552,000 after acquiring an additional 123 shares during the last quarter. HighTower Advisors LLC lifted its holdings in Royal Gold by 17.9% in the first quarter. HighTower Advisors LLC now owns 6,544 shares of the basic materials company’s stock valued at $921,000 after acquiring an additional 993 shares during the period. Private Advisor Group LLC acquired a new position in shares of Royal Gold during the 1st quarter worth approximately $251,000. PNC Financial Services Group Inc. raised its stake in shares of Royal Gold by 2.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,042 shares of the basic materials company’s stock worth $572,000 after buying an additional 96 shares during the period. Finally, Great West Life Assurance Co. Can raised its stake in shares of Royal Gold by 9.2% during the 1st quarter. Great West Life Assurance Co. Can now owns 35,641 shares of the basic materials company’s stock worth $5,174,000 after buying an additional 2,988 shares during the period. Hedge funds and other institutional investors own 80.49% of the company’s stock.
Analyst Ratings Changes
Several research analysts have recently weighed in on RGLD shares. Raymond James upped their target price on Royal Gold from $156.00 to $158.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 14th. StockNews.com began coverage on Royal Gold in a research report on Thursday, August 17th. They set a “hold” rating for the company. Cantor Fitzgerald upgraded Royal Gold from a “hold” rating to a “buy” rating and set a $145.00 price target for the company in a research report on Thursday, August 3rd. BMO Capital Markets boosted their price target on Royal Gold from $138.00 to $145.00 in a research report on Thursday, August 3rd. Finally, Bank of America cut Royal Gold from a “neutral” rating to an “underperform” rating and set a $130.00 price target for the company. in a research report on Monday, June 5th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Royal Gold has a consensus rating of “Hold” and an average price target of $143.00.
Royal Gold Stock Up 1.8 %
Shares of NASDAQ:RGLD opened at $112.57 on Monday. The company has a quick ratio of 2.45, a current ratio of 2.62 and a debt-to-equity ratio of 0.14. The business has a fifty day moving average of $114.10 and a two-hundred day moving average of $121.93. The stock has a market cap of $7.39 billion, a P/E ratio of 32.16, a PEG ratio of 3.17 and a beta of 0.66. Royal Gold, Inc. has a 52-week low of $84.54 and a 52-week high of $147.82.
Royal Gold (NASDAQ:RGLD – Get Free Report) (TSE:RGL) last issued its earnings results on Wednesday, August 2nd. The basic materials company reported $0.88 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.88. Royal Gold had a return on equity of 8.19% and a net margin of 37.69%. The company had revenue of $144.04 million during the quarter. On average, research analysts expect that Royal Gold, Inc. will post 3.49 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 20th. Stockholders of record on Friday, October 6th will be paid a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 1.33%. The ex-dividend date of this dividend is Thursday, October 5th. Royal Gold’s dividend payout ratio (DPR) is presently 42.86%.
About Royal Gold
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.
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