Public Employees Retirement System of Ohio Raises Position in Royal Gold, Inc. $RGLD

Public Employees Retirement System of Ohio lifted its position in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 0.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,243 shares of the basic materials company’s stock after acquiring an additional 134 shares during the period. Public Employees Retirement System of Ohio’s holdings in Royal Gold were worth $3,956,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. AQR Capital Management LLC lifted its stake in Royal Gold by 68.8% in the 1st quarter. AQR Capital Management LLC now owns 1,682,911 shares of the basic materials company’s stock valued at $274,887,000 after buying an additional 685,857 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Royal Gold by 17,722.4% during the 1st quarter. GAMMA Investing LLC now owns 457,501 shares of the basic materials company’s stock worth $74,806,000 after buying an additional 454,934 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Royal Gold during the 1st quarter worth approximately $40,882,000. Victory Capital Management Inc. increased its holdings in Royal Gold by 117.0% in the 1st quarter. Victory Capital Management Inc. now owns 415,179 shares of the basic materials company’s stock valued at $67,886,000 after purchasing an additional 223,870 shares during the last quarter. Finally, Copeland Capital Management LLC increased its holdings in Royal Gold by 106,046.2% in the 1st quarter. Copeland Capital Management LLC now owns 137,990 shares of the basic materials company’s stock valued at $22,563,000 after purchasing an additional 137,860 shares during the last quarter. 83.65% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on RGLD shares. Canaccord Genuity Group lifted their price objective on shares of Royal Gold from $202.00 to $203.00 in a research report on Wednesday, June 11th. TD Securities reiterated a “buy” rating and set a $237.00 price target (up from $229.00) on shares of Royal Gold in a research note on Friday, August 8th. Wall Street Zen upgraded shares of Royal Gold from a “hold” rating to a “buy” rating in a research report on Saturday, August 30th. Finally, Zacks Research downgraded shares of Royal Gold from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 19th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Royal Gold has a consensus rating of “Moderate Buy” and an average price target of $198.63.

Royal Gold Stock Performance

NASDAQ RGLD opened at $200.58 on Wednesday. The company has a 50-day simple moving average of $176.06 and a 200-day simple moving average of $173.67. The firm has a market capitalization of $13.20 billion, a PE ratio of 29.41, a price-to-earnings-growth ratio of 1.57 and a beta of 0.43. Royal Gold, Inc. has a one year low of $130.67 and a one year high of $202.38.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last posted its earnings results on Wednesday, August 6th. The basic materials company reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.11. The firm had revenue of $209.64 million during the quarter, compared to analyst estimates of $186.63 million. Royal Gold had a net margin of 56.24% and a return on equity of 13.30%. Royal Gold’s revenue was up 20.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.25 EPS. Equities analysts forecast that Royal Gold, Inc. will post 6.2 earnings per share for the current year.

Royal Gold Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Friday, October 3rd will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, October 3rd. Royal Gold’s dividend payout ratio is currently 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.