Royal Gold, Inc. (NASDAQ:RGLD) Shares Acquired by Wells Fargo & Company MN

Wells Fargo & Company MN increased its holdings in shares of Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 9.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,975 shares of the basic materials company’s stock after purchasing an additional 2,287 shares during the quarter. Wells Fargo & Company MN’s holdings in Royal Gold were worth $3,425,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RGLD. Exchange Traded Concepts LLC purchased a new position in Royal Gold during the fourth quarter worth about $25,000. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Royal Gold during the 4th quarter worth approximately $42,000. Jones Financial Companies Lllp boosted its position in shares of Royal Gold by 390.7% during the 4th quarter. Jones Financial Companies Lllp now owns 368 shares of the basic materials company’s stock worth $49,000 after purchasing an additional 293 shares during the period. IFP Advisors Inc increased its holdings in Royal Gold by 66.7% in the 4th quarter. IFP Advisors Inc now owns 395 shares of the basic materials company’s stock valued at $52,000 after purchasing an additional 158 shares during the last quarter. Finally, Human Investing LLC purchased a new stake in Royal Gold in the fourth quarter valued at approximately $73,000. 83.65% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RGLD has been the subject of several research analyst reports. Royal Bank of Canada lowered their price target on Royal Gold from $175.00 to $170.00 and set an “outperform” rating for the company in a research report on Friday, April 4th. Scotiabank upgraded shares of Royal Gold from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the stock from $166.00 to $189.00 in a research note on Monday, April 14th. Jefferies Financial Group upgraded shares of Royal Gold from a “hold” rating to a “buy” rating and lifted their price objective for the company from $154.00 to $178.00 in a report on Tuesday, January 7th. BMO Capital Markets initiated coverage on shares of Royal Gold in a report on Wednesday, April 16th. They set a “market perform” rating and a $196.00 target price on the stock. Finally, Raymond James boosted their price target on shares of Royal Gold from $181.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, April 4th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Royal Gold currently has a consensus rating of “Moderate Buy” and a consensus target price of $178.00.

Insider Activity at Royal Gold

In other Royal Gold news, SVP Randy Shefman sold 1,300 shares of the firm’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $154.98, for a total transaction of $201,474.00. Following the transaction, the senior vice president now owns 9,360 shares of the company’s stock, valued at approximately $1,450,612.80. This trade represents a 12.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.49% of the company’s stock.

Royal Gold Price Performance

Royal Gold stock opened at $181.35 on Wednesday. The stock’s fifty day moving average is $159.70 and its two-hundred day moving average is $148.60. The stock has a market cap of $11.93 billion, a PE ratio of 35.98, a P/E/G ratio of 3.42 and a beta of 0.77. Royal Gold, Inc. has a 1-year low of $118.00 and a 1-year high of $191.78.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last posted its earnings results on Wednesday, February 12th. The basic materials company reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.17. Royal Gold had a return on equity of 11.46% and a net margin of 46.15%. On average, research analysts expect that Royal Gold, Inc. will post 6.2 earnings per share for the current fiscal year.

Royal Gold Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 17th. Stockholders of record on Friday, April 4th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 0.99%. The ex-dividend date of this dividend was Friday, April 4th. Royal Gold’s payout ratio is 35.71%.

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.