CoreCommodity Management LLC Acquires New Stake in Royal Gold, Inc. (NASDAQ:RGLD)

CoreCommodity Management LLC acquired a new position in Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,802 shares of the basic materials company's stock, valued at approximately $238,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RGLD. Bridgefront Capital LLC bought a new stake in Royal Gold in the fourth quarter worth about $536,000. Captrust Financial Advisors lifted its stake in Royal Gold by 22.1% in the fourth quarter. Captrust Financial Advisors now owns 4,916 shares of the basic materials company's stock valued at $648,000 after purchasing an additional 890 shares during the last quarter. BW Gestao de Investimentos Ltda. bought a new stake in shares of Royal Gold in the fourth quarter valued at $1,318,000. Baird Financial Group Inc. lifted its position in shares of Royal Gold by 1.2% during the 4th quarter. Baird Financial Group Inc. now owns 89,322 shares of the basic materials company's stock valued at $11,777,000 after buying an additional 1,069 shares during the last quarter. Finally, BLI Banque de Luxembourg Investments bought a new position in shares of Royal Gold during the 4th quarter worth $27,536,000. 83.65% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Royal Gold

In related news, SVP Randy Shefman sold 1,300 shares of the business's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $154.98, for a total value of $201,474.00. Following the sale, the senior vice president now directly owns 9,360 shares in the company, valued at approximately $1,450,612.80. The trade was a 12.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.49% of the stock is currently owned by corporate insiders.

Royal Gold Price Performance

RGLD stock traded up $5.64 during trading on Friday, hitting $184.36. 439,463 shares of the stock traded hands, compared to its average volume of 412,081. The stock has a market cap of $12.13 billion, a price-to-earnings ratio of 36.58, a price-to-earnings-growth ratio of 3.42 and a beta of 0.48. Royal Gold, Inc. has a 1 year low of $119.72 and a 1 year high of $191.78. The firm's 50 day moving average is $168.07 and its two-hundred day moving average is $151.80.

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

Royal Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 17th. Stockholders of record on Friday, April 4th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date was Friday, April 4th. Royal Gold's payout ratio is 29.80%.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Royal Bank of Canada lowered their price target on shares of Royal Gold from $175.00 to $170.00 and set an "outperform" rating on the stock in a research report on Friday, April 4th. BMO Capital Markets started coverage on Royal Gold in a research note on Wednesday, April 16th. They issued a "market perform" rating and a $196.00 target price for the company. Raymond James raised their price target 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 upgraded Royal Gold from a "sector perform" rating to a "sector outperform" rating and lifted their price target for the company from $166.00 to $189.00 in a research report on Monday, April 14th. Finally, CIBC boosted their price target on shares of Royal Gold from $202.00 to $215.00 and gave the stock a "neutral" rating in a research note on Thursday. One equities research 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, the stock has an average rating of "Moderate Buy" and an average target price of $183.00.

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.