Brown Advisory Inc. Acquires Shares of 2,755 Royal Gold, Inc. (NASDAQ:RGLD)

Brown Advisory Inc. acquired a new position in Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,755 shares of the basic materials company's stock, valued at approximately $450,000.

A number of other hedge funds have also recently added to or reduced their stakes in RGLD. Jones Financial Companies Lllp increased its holdings in Royal Gold by 390.7% in the fourth quarter. Jones Financial Companies Lllp now owns 368 shares of the basic materials company's stock worth $49,000 after buying an additional 293 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Royal Gold in the fourth quarter valued at approximately $11,998,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Royal Gold in the fourth quarter worth $741,000. Swiss National Bank lifted its stake in shares of Royal Gold by 0.7% in the fourth quarter. Swiss National Bank now owns 129,300 shares of the basic materials company's stock worth $17,048,000 after buying an additional 900 shares during the last quarter. Finally, Commonwealth Equity Services LLC lifted its stake in shares of Royal Gold by 1.6% in the fourth quarter. Commonwealth Equity Services LLC now owns 13,005 shares of the basic materials company's stock worth $1,715,000 after buying an additional 199 shares during the last quarter. Institutional investors and hedge funds own 83.65% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on RGLD. Wall Street Zen upgraded shares of Royal Gold from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 24th. CIBC boosted their price objective on shares of Royal Gold from $202.00 to $215.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Scotiabank upgraded shares of Royal Gold from a "sector perform" rating to a "sector outperform" rating and boosted their price objective for the stock from $166.00 to $189.00 in a research note on Monday, April 14th. Royal Bank Of Canada reduced their price objective on shares of Royal Gold from $175.00 to $170.00 and set an "outperform" rating for the company in a research note 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 research note on Thursday, May 22nd. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Royal Gold currently has an average rating of "Moderate Buy" and a consensus target price of $192.13.

Royal Gold Price Performance

Shares of Royal Gold stock traded down $0.35 during midday trading on Friday, hitting $154.76. The company had a trading volume of 674,687 shares, compared to its average volume of 477,127. The business's 50 day simple moving average is $174.19 and its two-hundred day simple moving average is $162.10. The stock has a market cap of $10.19 billion, a PE ratio of 25.62, a P/E/G ratio of 1.09 and a beta of 0.44. Royal Gold, Inc. has a 1-year low of $125.69 and a 1-year high of $191.78.

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 (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.14. The business had revenue of $193.44 million for the quarter, compared to the consensus estimate of $176.17 million. Royal Gold had a net margin of 52.15% and a return on equity of 12.48%. Royal Gold's quarterly revenue was up 29.9% on a year-over-year basis. During the same quarter last year, the company posted $0.91 earnings per share. On average, sell-side analysts expect that Royal Gold, Inc. will post 6.2 EPS for the current fiscal year.

Royal Gold Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 17th. Investors of record on Thursday, July 3rd were given a $0.45 dividend. The ex-dividend date was Thursday, July 3rd. This represents a $1.80 annualized dividend and a yield of 1.16%. Royal Gold's dividend payout ratio (DPR) is currently 29.80%.

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.