Allspring Global Investments Holdings LLC Raises Position in Royal Gold, Inc. (NASDAQ:RGLD)

Allspring Global Investments Holdings LLC lifted its position in Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL by 16.6% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 137,366 shares of the basic materials company's stock after purchasing an additional 19,580 shares during the period. Allspring Global Investments Holdings LLC owned about 0.21% of Royal Gold worth $22,564,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Alpine Bank Wealth Management purchased a new position in Royal Gold during the 1st quarter valued at about $32,000. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Royal Gold in the 4th quarter worth approximately $42,000. Jones Financial Companies Lllp increased its stake in shares of Royal Gold by 390.7% during the fourth quarter. Jones Financial Companies Lllp now owns 368 shares of the basic materials company's stock valued at $49,000 after buying an additional 293 shares during the period. IFP Advisors Inc increased its stake in shares of Royal Gold by 66.7% during the fourth quarter. IFP Advisors Inc now owns 395 shares of the basic materials company's stock valued at $52,000 after buying an additional 158 shares during the period. Finally, SRS Capital Advisors Inc. raised its holdings in shares of Royal Gold by 42.5% during the fourth quarter. SRS Capital Advisors Inc. now owns 651 shares of the basic materials company's stock valued at $86,000 after acquiring an additional 194 shares in the last quarter. 83.65% of the stock is owned by hedge funds and other institutional investors.

Royal Gold Price Performance

NASDAQ:RGLD traded up $0.49 during mid-day trading on Thursday, hitting $179.79. 251,305 shares of the company's stock were exchanged, compared to its average volume of 440,064. The company has a market cap of $11.83 billion, a PE ratio of 29.77, a P/E/G ratio of 1.30 and a beta of 0.44. Royal Gold, Inc. has a one year low of $125.69 and a one year high of $191.78. The business has a fifty day moving average price of $178.45 and a 200 day moving average price of $160.07.

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

Royal Gold Announces Dividend

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

Analysts Set New Price Targets

A number of brokerages have issued reports on RGLD. Scotiabank raised shares of Royal Gold from a "sector perform" rating to a "sector outperform" rating and boosted their price objective for the company from $166.00 to $189.00 in a research report on Monday, April 14th. BMO Capital Markets set a $197.00 price target on shares of Royal Gold and gave the company a "market perform" rating in a research report on Thursday, May 22nd. Raymond James Financial increased their price target on shares of Royal Gold from $181.00 to $200.00 and gave the stock an "outperform" rating in a research note on Friday, April 4th. Canaccord Genuity Group raised their price objective on shares of Royal Gold from $202.00 to $203.00 in a report on Wednesday, June 11th. Finally, Royal Bank Of Canada reduced their target price on Royal Gold from $175.00 to $170.00 and set an "outperform" rating on the stock in a report on Friday, April 4th. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price 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.