Advisors Asset Management Inc. Purchases 1,929 Shares of Royal Gold, Inc. $RGLD

Key Points

• Advisors Asset Management Inc. raised its holdings in Royal Gold, Inc. by 104.9% during the 1st quarter, now owning shares worth $616,000.
• Royal Gold reported quarterly earnings of $1.81 EPS, beating estimates and showing a 20.4% year-over-year revenue increase.
• Royal Gold announced a quarterly dividend of $0.45 per share, representing an annualized dividend of $1.80 and a 1.0% yield.

Advisors Asset Management Inc. increased its stake in shares of Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL by 104.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,768 shares of the basic materials company's stock after purchasing an additional 1,929 shares during the period. Advisors Asset Management Inc.'s holdings in Royal Gold were worth $616,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of RGLD. WPG Advisers LLC acquired a new stake in Royal Gold in the 1st quarter worth about $27,000. Alpine Bank Wealth Management purchased a new stake in shares of Royal Gold during the first quarter valued at approximately $32,000. Banque Cantonale Vaudoise acquired a new stake in shares of Royal Gold during the first quarter valued at about $34,000. Bayforest Capital Ltd raised its position in shares of Royal Gold by 256.5% in the 1st quarter. Bayforest Capital Ltd now owns 246 shares of the basic materials company's stock valued at $40,000 after purchasing an additional 177 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new position in Royal Gold during the 1st quarter valued at $40,000. 83.65% of the stock is owned by institutional investors and hedge funds.

Royal Gold Price Performance

Shares of NASDAQ RGLD traded down $4.84 during mid-day trading on Tuesday, hitting $190.59. The company's stock had a trading volume of 945,559 shares, compared to its average volume of 688,346. Royal Gold, Inc. has a one year low of $130.67 and a one year high of $196.00. The company's fifty day simple moving average is $169.08 and its 200-day simple moving average is $170.81. The stock has a market cap of $12.55 billion, a price-to-earnings ratio of 27.95, a price-to-earnings-growth ratio of 1.54 and a beta of 0.43.

Royal Gold (NASDAQ:RGLD - Get Free Report) TSE: RGL last released its quarterly earnings data on Wednesday, August 6th. The basic materials company reported $1.81 EPS for the quarter, beating analysts' consensus estimates of $1.70 by $0.11. The business had revenue of $209.64 million during the quarter, compared to analysts' expectations of $186.63 million. Royal Gold had a net margin of 56.24% and a return on equity of 13.30%. The firm's quarterly revenue was up 20.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.25 EPS. On average, sell-side analysts predict that Royal Gold, Inc. will post 6.2 EPS for the current year.

Royal Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Friday, October 3rd will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Friday, October 3rd. Royal Gold's dividend payout ratio (DPR) is currently 26.39%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on RGLD shares. BMO Capital Markets set a $197.00 price objective on shares of Royal Gold and gave the company a "market perform" rating in a research report on Thursday, May 22nd. Wall Street Zen upgraded shares of Royal Gold from a "hold" rating to a "buy" rating in a research note on Saturday, August 30th. TD Securities reaffirmed a "buy" rating and issued a $237.00 price target (up previously from $229.00) on shares of Royal Gold in a report on Friday, August 8th. Zacks Research downgraded shares of Royal Gold from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 19th. Finally, Canaccord Genuity Group raised their price target on shares of Royal Gold from $202.00 to $203.00 in a report on Wednesday, June 11th. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $198.63.

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.