Banque Pictet & Cie SA Takes Position in Royal Gold, Inc. (NASDAQ:RGLD)

Banque Pictet & Cie SA acquired a new stake in shares of Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 3,831 shares of the basic materials company's stock, valued at approximately $626,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Greenleaf Trust purchased a new position in Royal Gold during the first quarter valued at approximately $247,000. OMNI 360 Wealth Inc. purchased a new position in Royal Gold during the first quarter valued at approximately $220,000. Brown Advisory Inc. purchased a new position in Royal Gold during the first quarter valued at approximately $450,000. Envestnet Asset Management Inc. grew its position in Royal Gold by 128.0% during the first quarter. Envestnet Asset Management Inc. now owns 15,075 shares of the basic materials company's stock valued at $2,465,000 after purchasing an additional 8,462 shares in the last quarter. Finally, HM Payson & Co. lifted its stake in Royal Gold by 4,545.5% in the first quarter. HM Payson & Co. now owns 511 shares of the basic materials company's stock valued at $84,000 after acquiring an additional 500 shares during the last quarter. 83.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on RGLD shares. Scotiabank upgraded shares of Royal Gold from a "sector perform" rating to a "sector outperform" rating and lifted their target price for the company from $166.00 to $189.00 in a research note on Monday, April 14th. 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. Canaccord Genuity Group upped their price objective on shares of Royal Gold from $202.00 to $203.00 in a report on Wednesday, June 11th. Raymond James Financial upped their price objective on shares of Royal Gold from $181.00 to $200.00 and gave the stock an "outperform" rating in a report on Friday, April 4th. Finally, BMO Capital Markets set a $197.00 price objective on shares of Royal Gold and gave the stock a "market perform" rating in a report on Thursday, May 22nd. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $192.13.

Royal Gold Trading Down 0.1%

NASDAQ:RGLD traded down $0.14 during trading hours on Monday, hitting $159.82. 1,287,623 shares of the company traded hands, compared to its average volume of 466,919. The stock has a market capitalization of $10.52 billion, a price-to-earnings ratio of 26.46, a P/E/G ratio of 1.14 and a beta of 0.44. Royal Gold, Inc. has a twelve month low of $125.69 and a twelve month high of $191.78. The firm has a 50-day moving average of $176.67 and a 200 day moving average of $161.65.

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

Royal Gold Announces Dividend

The firm also recently disclosed 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. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date of this dividend is Thursday, July 3rd. Royal Gold's dividend payout ratio is 29.80%.

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.