Bridgefront Capital LLC Takes $536,000 Position in Royal Gold, Inc. (NASDAQ:RGLD)

Bridgefront Capital LLC bought a new position in Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL during the fourth quarter, according to its most recent filing with the SEC. The firm bought 4,068 shares of the basic materials company's stock, valued at approximately $536,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in RGLD. Norges Bank purchased a new stake in shares of Royal Gold in the fourth quarter valued at about $44,009,000. BLI Banque de Luxembourg Investments bought a new stake in Royal Gold in the fourth quarter worth about $27,536,000. Arrowstreet Capital Limited Partnership boosted its stake in Royal Gold by 181.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 302,206 shares of the basic materials company's stock valued at $39,846,000 after acquiring an additional 194,905 shares during the last quarter. Northern Trust Corp grew its position in shares of Royal Gold by 19.6% during the 4th quarter. Northern Trust Corp now owns 1,029,431 shares of the basic materials company's stock valued at $135,730,000 after acquiring an additional 168,569 shares during the period. Finally, AQR Capital Management LLC increased its stake in shares of Royal Gold by 18.1% during the 4th quarter. AQR Capital Management LLC now owns 997,054 shares of the basic materials company's stock worth $131,412,000 after purchasing an additional 152,599 shares during the last quarter. 83.65% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on RGLD shares. CIBC boosted their target price on Royal Gold from $202.00 to $215.00 and gave the company a "neutral" rating in a research note on Thursday. BMO Capital Markets assumed coverage on shares of Royal Gold in a research note on Wednesday, April 16th. They set a "market perform" rating and a $196.00 price target on the stock. Raymond James boosted their target price on shares of Royal Gold from $181.00 to $200.00 and gave the company an "outperform" rating in a report on Friday, April 4th. Scotiabank raised Royal Gold from a "sector perform" rating to a "sector outperform" rating and raised their price target for the stock from $166.00 to $189.00 in a report on Monday, April 14th. Finally, Royal Bank of Canada reduced 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. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Royal Gold has an average rating of "Moderate Buy" and a consensus price target of $183.00.

Insiders Place Their Bets

In related 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 directly 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 position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.49% of the company's stock.

Royal Gold Price Performance

NASDAQ RGLD traded up $5.64 during trading on Friday, reaching $184.36. The company's stock had a trading volume of 439,463 shares, compared to its average volume of 412,022. The firm has a fifty day moving average of $168.07 and a 200 day moving average of $151.80. Royal Gold, Inc. has a one year low of $119.72 and a one year high of $191.78. The stock has a market capitalization of $12.13 billion, a PE ratio of 36.58, a P/E/G ratio of 3.42 and a beta of 0.48.

Royal Gold (NASDAQ:RGLD - Get Free Report) TSE: RGL last announced its earnings results on Wednesday, May 7th. The basic materials company reported $1.51 earnings per share for the quarter, beating analysts' consensus estimates of $1.37 by $0.14. Royal Gold had a net margin of 46.15% and a return on equity of 11.46%. The business had revenue of $193.44 million for the quarter, compared to the consensus estimate of $176.17 million. During the same period last year, the firm posted $0.91 earnings per share. Royal Gold's quarterly revenue was up 29.9% on a year-over-year basis. Research analysts expect that Royal Gold, Inc. will post 6.2 earnings per share for the current fiscal year.

Royal Gold Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 17th. Shareholders of record on Friday, April 4th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, April 4th. This represents a $1.80 dividend on an annualized basis and a yield of 0.98%. Royal Gold's payout ratio is 35.71%.

Royal Gold 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.