M&T Bank Corp Has $483,000 Position in Royal Gold, Inc. (NASDAQ:RGLD)

M&T Bank Corp lowered its position in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 23.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,951 shares of the basic materials company’s stock after selling 909 shares during the quarter. M&T Bank Corp’s holdings in Royal Gold were worth $483,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in RGLD. Jones Financial Companies Lllp lifted its stake in Royal Gold by 390.7% in the fourth quarter. Jones Financial Companies Lllp now owns 368 shares of the basic materials company’s stock valued at $49,000 after acquiring an additional 293 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Royal Gold in the fourth quarter valued at $11,998,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Royal Gold in the fourth quarter valued at $741,000. Swiss National Bank increased its holdings in shares of Royal Gold by 0.7% in the fourth quarter. Swiss National Bank now owns 129,300 shares of the basic materials company’s stock valued at $17,048,000 after purchasing an additional 900 shares during the last quarter. Finally, Commonwealth Equity Services LLC increased its holdings in shares of Royal Gold by 1.6% in the fourth quarter. Commonwealth Equity Services LLC now owns 13,005 shares of the basic materials company’s stock valued at $1,715,000 after purchasing an additional 199 shares during the last quarter. Institutional investors and hedge funds own 83.65% of the company’s stock.

Royal Gold Stock Performance

RGLD opened at $157.67 on Thursday. The firm has a market cap of $10.38 billion, a P/E ratio of 26.10, a price-to-earnings-growth ratio of 1.12 and a beta of 0.44. Royal Gold, Inc. has a 52-week low of $125.69 and a 52-week high of $191.78. The business’s fifty day moving average is $175.25 and its 200-day moving average is $161.78.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last released its earnings results on Wednesday, May 7th. The basic materials company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.14. The company had revenue of $193.44 million for the quarter, compared to analyst estimates of $176.17 million. Royal Gold had a return on equity of 12.48% and a net margin of 52.15%. Royal Gold’s quarterly revenue was up 29.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.91 EPS. On average, research analysts predict that Royal Gold, Inc. will post 6.2 earnings per share for the current fiscal year.

Royal Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 17th. Stockholders of record on Thursday, July 3rd will be issued a dividend of $0.45 per share. The ex-dividend date is Thursday, July 3rd. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.14%. Royal Gold’s dividend payout ratio (DPR) is currently 29.80%.

Analyst Ratings Changes

Several research firms have commented on RGLD. BMO Capital Markets set a $197.00 price objective on shares of Royal Gold and gave the company a “market perform” rating in a report on Thursday, May 22nd. Royal Bank Of Canada dropped their target price on Royal Gold from $175.00 to $170.00 and set an “outperform” rating for the company in a report on Friday, April 4th. Canaccord Genuity Group lifted their target price on Royal Gold from $202.00 to $203.00 in a report on Wednesday, June 11th. Scotiabank raised Royal Gold from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the stock from $166.00 to $189.00 in a report on Monday, April 14th. Finally, Wall Street Zen raised Royal Gold from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 24th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Royal Gold currently has a consensus rating of “Moderate Buy” and a consensus target price of $192.13.

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.