Allspring Global Investments Holdings LLC Raises Position in Royal Gold, Inc. $RGLD

Key Points

• Allspring Global Investments increased its stake in Royal Gold by 10.8% in the first quarter, owning 103,707 shares valued at about $27.4 million.
• Other large investors also boosted their holdings, and institutional ownership is high at 83.65% of the company’s stock.
• Royal Gold shares were down 1.0% and opened at $187.36, while analysts currently have a Moderate Buy consensus with an average price target of $280.27.

Allspring Global Investments Holdings LLC grew its holdings in Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL by 10.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 103,707 shares of the basic materials company's stock after acquiring an additional 10,074 shares during the period. Allspring Global Investments Holdings LLC owned about 0.12% of Royal Gold worth $27,415,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Goldman Sachs Group Inc. grew its position in shares of Royal Gold by 99.5% during the first quarter. Goldman Sachs Group Inc. now owns 168,846 shares of the basic materials company's stock worth $27,608,000 after buying an additional 84,206 shares in the last quarter. Focus Partners Wealth raised its holdings in Royal Gold by 51.5% in the first quarter. Focus Partners Wealth now owns 8,465 shares of the basic materials company's stock valued at $1,384,000 after acquiring an additional 2,876 shares in the last quarter. Brown Advisory Inc. raised its holdings in Royal Gold by 28.9% in the second quarter. Brown Advisory Inc. now owns 3,551 shares of the basic materials company's stock valued at $631,000 after acquiring an additional 796 shares in the last quarter. Qube Research & Technologies Ltd lifted its stake in Royal Gold by 43.0% in the second quarter. Qube Research & Technologies Ltd now owns 188,247 shares of the basic materials company's stock worth $33,478,000 after acquiring an additional 56,621 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its stake in Royal Gold by 4.6% in the second quarter. NewEdge Advisors LLC now owns 24,551 shares of the basic materials company's stock worth $4,366,000 after acquiring an additional 1,072 shares during the last quarter. Hedge funds and other institutional investors own 83.65% of the company's stock.

Insider Transactions at Royal Gold

In other Royal Gold news, SVP Randy Shefman sold 1,000 shares of Royal Gold stock in a transaction on Monday, May 11th. The shares were sold at an average price of $243.74, for a total value of $243,740.00. Following the transaction, the senior vice president directly owned 9,082 shares in the company, valued at approximately $2,213,646.68. The trade was a 9.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.35% of the company's stock.

Royal Gold Stock Down 1.0%

Shares of NASDAQ RGLD opened at $187.36 on Tuesday. The business has a 50-day moving average price of $210.91 and a 200 day moving average price of $243.54. The stock has a market cap of $15.90 billion, a PE ratio of 22.33, a price-to-earnings-growth ratio of 1.30 and a beta of 0.44. The company has a quick ratio of 3.26, a current ratio of 3.52 and a debt-to-equity ratio of 0.08. Royal Gold, Inc. has a 52-week low of $150.75 and a 52-week high of $306.25.

Royal Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 16th. Shareholders of record on Thursday, July 2nd were given a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Thursday, July 2nd. Royal Gold's dividend payout ratio (DPR) is presently 22.65%.

Analysts Set New Price Targets

A number of brokerages have commented on RGLD. Zacks Research raised shares of Royal Gold from a "strong sell" rating to a "hold" rating in a research report on Thursday, July 2nd. National Bank Financial decreased their price objective on shares of Royal Gold from $350.00 to $340.00 and set an "outperform" rating for the company in a research report on Friday, April 17th. Scotiabank reiterated a "sector perform" rating and set a $310.00 target price on shares of Royal Gold in a research note on Tuesday, July 14th. UBS Group dropped their target price on Royal Gold from $325.00 to $280.00 and set a "buy" rating on the stock in a report on Tuesday, June 30th. Finally, Royal Bank Of Canada cut their price target on Royal Gold from $310.00 to $305.00 and set an "outperform" rating on the stock in a research note on Thursday, July 9th. Nine research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $280.27.

About Royal Gold

Royal Gold, Inc, headquartered in Denver, Colorado, is a leading precious metals streaming and royalty company. Through its business model, Royal Gold provides upfront financing to mining operators in exchange for the right to purchase a percentage of future metal production at predetermined prices. This structure allows the company to participate in production upside while minimizing exposure to the operating and capital-intensive aspects of mine ownership.

The company's portfolio encompasses interests in over 200 streams and royalties on projects across North America, South America, Europe, Africa and Australia.

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