Avidian Wealth Enterprises LLC Takes Position in Royal Gold, Inc. (NASDAQ:RGLD)

Avidian Wealth Enterprises LLC purchased a new position in shares of Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 2,236 shares of the basic materials company's stock, valued at approximately $366,000.

Several other institutional investors have also made changes to their positions in the company. Capital World Investors grew its position in Royal Gold by 0.4% in the fourth quarter. Capital World Investors now owns 8,773,925 shares of the basic materials company's stock worth $1,156,842,000 after acquiring an additional 37,648 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Royal Gold by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 6,651,935 shares of the basic materials company's stock worth $877,058,000 after purchasing an additional 89,298 shares in the last quarter. Northern Trust Corp increased its position in Royal Gold by 19.6% during the fourth quarter. Northern Trust Corp now owns 1,029,431 shares of the basic materials company's stock worth $135,730,000 after buying an additional 168,569 shares during the last quarter. AQR Capital Management LLC raised its holdings in Royal Gold by 18.1% during the fourth quarter. AQR Capital Management LLC now owns 997,054 shares of the basic materials company's stock valued at $131,412,000 after buying an additional 152,599 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Royal Gold by 5.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 877,803 shares of the basic materials company's stock worth $115,735,000 after buying an additional 49,206 shares during the last quarter. 83.65% of the stock is currently owned by institutional investors and hedge funds.

Royal Gold Stock Performance

Shares of RGLD traded up $1.68 during trading hours on Wednesday, reaching $179.30. 421,891 shares of the company traded hands, compared to its average volume of 439,786. The stock's fifty day moving average is $178.53 and its 200 day moving average is $159.83. Royal Gold, Inc. has a 1-year low of $125.69 and a 1-year high of $191.78. The stock has a market cap of $11.80 billion, a P/E ratio of 29.69, a price-to-earnings-growth ratio of 1.29 and a beta of 0.44.

Royal Gold (NASDAQ:RGLD - Get Free Report) TSE: RGL last announced its quarterly earnings data on Wednesday, May 7th. The basic materials company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.14. The company had revenue of $193.44 million for the quarter, compared to analyst estimates of $176.17 million. Royal Gold had a return on equity of 12.48% and a net margin of 52.15%. Royal Gold's revenue for the quarter was up 29.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.91 EPS. On average, equities research analysts predict that Royal Gold, Inc. will post 6.2 EPS for the current year.

Royal Gold Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 17th. Shareholders of record on Thursday, July 3rd will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date of this dividend is Thursday, July 3rd. Royal Gold's dividend payout ratio is 29.80%.

Analyst Upgrades and Downgrades

RGLD has been the topic of a number of recent analyst reports. Raymond James Financial raised their price objective on Royal Gold from $181.00 to $200.00 and gave the company an "outperform" rating in a research note on Friday, April 4th. CIBC upped their price objective on shares of Royal Gold from $202.00 to $215.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. BMO Capital Markets set a $197.00 target price on shares of Royal Gold and gave the stock a "market perform" rating in a report on Thursday, May 22nd. 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. Finally, Scotiabank upgraded Royal Gold from a "sector perform" rating to a "sector outperform" rating and lifted their price objective for the stock from $166.00 to $189.00 in a research note on Monday, April 14th. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $192.13.

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.