Royal Gold, Inc. $RGLD Stock Holdings Increased by CIBC Asset Management Inc

CIBC Asset Management Inc grew its position in shares of Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 17.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,228 shares of the basic materials company’s stock after buying an additional 2,295 shares during the period. CIBC Asset Management Inc’s holdings in Royal Gold were worth $3,054,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Cullen Frost Bankers Inc. lifted its stake in Royal Gold by 548.1% during the second quarter. Cullen Frost Bankers Inc. now owns 175 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 148 shares during the last quarter. Blue Trust Inc. lifted its position in shares of Royal Gold by 56.8% in the 2nd quarter. Blue Trust Inc. now owns 196 shares of the basic materials company’s stock worth $35,000 after buying an additional 71 shares during the last quarter. Caldwell Trust Co acquired a new position in shares of Royal Gold in the 2nd quarter valued at about $36,000. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Royal Gold by 33.9% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 221 shares of the basic materials company’s stock valued at $44,000 after buying an additional 56 shares during the period. Finally, JFS Wealth Advisors LLC grew its position in shares of Royal Gold by 568.4% during the 2nd quarter. JFS Wealth Advisors LLC now owns 254 shares of the basic materials company’s stock valued at $45,000 after buying an additional 216 shares during the last quarter. Institutional investors and hedge funds own 83.65% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on RGLD shares. Zacks Research raised shares of Royal Gold from a “hold” rating to a “strong-buy” rating in a report on Monday, January 19th. Wall Street Zen lowered Royal Gold from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. CIBC upped their price objective on Royal Gold from $225.00 to $250.00 and gave the stock a “neutral” rating in a research note on Friday, October 10th. BMO Capital Markets set a $240.00 target price on Royal Gold and gave the company an “outperform” rating in a research note on Tuesday, October 21st. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Royal Gold in a report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $243.50.

Royal Gold Trading Up 1.1%

NASDAQ:RGLD opened at $293.73 on Wednesday. The stock has a market cap of $24.79 billion, a price-to-earnings ratio of 40.35, a PEG ratio of 0.80 and a beta of 0.49. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.68 and a current ratio of 2.89. Royal Gold, Inc. has a 1 year low of $136.00 and a 1 year high of $299.60. The business has a fifty day moving average of $229.21 and a 200-day moving average of $196.82.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last issued its quarterly earnings data on Wednesday, November 5th. The basic materials company reported $2.06 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.24). The company had revenue of $250.23 million for the quarter, compared to the consensus estimate of $275.11 million. Royal Gold had a net margin of 55.99% and a return on equity of 14.14%. Royal Gold’s revenue for the quarter was up 30.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.47 earnings per share. Equities analysts predict that Royal Gold, Inc. will post 6.2 earnings per share for the current year.

Royal Gold Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Friday, January 2nd were issued a $0.475 dividend. This represents a $1.90 annualized dividend and a dividend yield of 0.6%. This is a boost from Royal Gold’s previous quarterly dividend of $0.45. The ex-dividend date was Friday, January 2nd. Royal Gold’s payout ratio is 26.10%.

About Royal Gold

Royal Gold, Inc, headquartered in Denver, Colorado, is a leading precious metals streaming and royalty company. Through its business model, Royal Gold provides upfront financing to mining operators in exchange for the right to purchase a percentage of future metal production at predetermined prices. This structure allows the company to participate in production upside while minimizing exposure to the operating and capital-intensive aspects of mine ownership.

The company’s portfolio encompasses interests in over 200 streams and royalties on projects across North America, South America, Europe, Africa and Australia.