PNC Financial Services Group Inc. Buys 482 Shares of Royal Gold, Inc. (NASDAQ:RGLD)

PNC Financial Services Group Inc. raised its holdings in shares of Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 10.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,163 shares of the basic materials company’s stock after buying an additional 482 shares during the period. PNC Financial Services Group Inc.’s holdings in Royal Gold were worth $844,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Alpine Bank Wealth Management bought a new position in Royal Gold in the first quarter worth approximately $32,000. Banque Cantonale Vaudoise purchased a new stake in shares of Royal Gold during the first quarter valued at $34,000. Bayforest Capital Ltd grew its holdings in shares of Royal Gold by 256.5% during the first quarter. Bayforest Capital Ltd now owns 246 shares of the basic materials company’s stock valued at $40,000 after buying an additional 177 shares during the last quarter. Larson Financial Group LLC boosted its holdings in Royal Gold by 77.0% in the first quarter. Larson Financial Group LLC now owns 439 shares of the basic materials company’s stock valued at $72,000 after purchasing an additional 191 shares during the last quarter. Finally, HM Payson & Co. boosted its holdings in Royal Gold by 4,545.5% in the first quarter. HM Payson & Co. now owns 511 shares of the basic materials company’s stock valued at $84,000 after purchasing an additional 500 shares during the last quarter. Institutional investors own 83.65% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on RGLD. Canaccord Genuity Group upped their price target on shares of Royal Gold from $202.00 to $203.00 in a report on Wednesday, June 11th. Wall Street Zen lowered shares of Royal Gold from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 2nd. BMO Capital Markets set a $197.00 target price on shares of Royal Gold and gave the stock a “market perform” rating in a research note on Thursday, May 22nd. TD Securities increased their target price on shares of Royal Gold from $229.00 to $237.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Scotiabank raised shares of Royal Gold from a “sector perform” rating to a “sector outperform” rating and increased their target price for the stock from $166.00 to $189.00 in a research note on Monday, April 14th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $198.63.

Royal Gold Stock Up 1.0%

RGLD opened at $170.60 on Tuesday. Royal Gold, Inc. has a twelve month low of $129.55 and a twelve month high of $191.78. The company has a 50-day moving average price of $168.42 and a 200 day moving average price of $164.88. The company has a market cap of $11.23 billion, a PE ratio of 25.01, a price-to-earnings-growth ratio of 1.20 and a beta of 0.40.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last released its quarterly earnings results on Wednesday, August 6th. The basic materials company reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.11. Royal Gold had a net margin of 56.24% and a return on equity of 13.30%. The firm had revenue of $209.64 million during the quarter, compared to the consensus estimate of $186.63 million. During the same quarter in the prior year, the firm earned $1.25 EPS. The company’s revenue for the quarter was up 20.4% on a year-over-year basis. As a group, sell-side analysts expect that Royal Gold, Inc. will post 6.2 earnings per share for the current year.

Royal Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 17th. Shareholders of record on Thursday, July 3rd were issued a $0.45 dividend. The ex-dividend date was Thursday, July 3rd. This represents a $1.80 dividend on an annualized basis and a yield of 1.1%. Royal Gold’s dividend payout ratio is presently 26.39%.

Royal Gold Company Profile

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.