California State Teachers Retirement System Has $3.93 Billion Holdings in Royal Gold, Inc. $RGLD

Key Points

• California State Teachers Retirement System increased its Royal Gold stake by 19,848.6% in the second quarter, owning 19.67 million shares worth approximately $3.93 billion, or 23.21% of the company. Institutional investors and hedge funds collectively own 83.65% of RGLD.
• Royal Gold reported quarterly revenue of $468.98 million, up 114.9% year over year, and earnings of $2.56 per share, narrowly exceeding analyst expectations. The company declared a quarterly dividend of $0.475 per share, representing a 0.7% yield.
• Analysts maintain a generally positive outlook, with eight Buy, four Hold, and one Sell rating, producing a “Moderate Buy” consensus and an average price target of $287.82. Shares recently opened at $253.98, down 3.3% in the reported session.

California State Teachers Retirement System increased its position in shares of Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL by 19,848.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,665,976 shares of the basic materials company's stock after purchasing an additional 19,567,393 shares during the quarter. California State Teachers Retirement System owned 23.21% of Royal Gold worth $3,925,525,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of RGLD. Plancorp LLC raised its position in Royal Gold by 69.8% during the fourth quarter. Plancorp LLC now owns 13,732 shares of the basic materials company's stock valued at $3,053,000 after purchasing an additional 5,646 shares in the last quarter. World Investment Advisors acquired a new stake in shares of Royal Gold in the 4th quarter valued at $1,024,000. TD Asset Management Inc boosted its holdings in shares of Royal Gold by 161.2% in the 4th quarter. TD Asset Management Inc now owns 43,836 shares of the basic materials company's stock valued at $9,744,000 after purchasing an additional 27,051 shares in the last quarter. Vestcor Inc increased its stake in shares of Royal Gold by 62.5% in the 4th quarter. Vestcor Inc now owns 32,177 shares of the basic materials company's stock valued at $7,153,000 after purchasing an additional 12,381 shares during the last quarter. Finally, Clear Harbor Asset Management LLC bought a new position in shares of Royal Gold in the 2nd quarter valued at $1,083,000. 83.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Randy Shefman sold 500 shares of the firm's stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $262.80, for a total transaction of $131,400.00. Following the completion of the transaction, the senior vice president directly owned 8,082 shares in the company, valued at $2,123,949.60. This trade represents a 5.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.35% of the stock is owned by company insiders.

Royal Gold Stock Down 3.3%

Shares of NASDAQ RGLD opened at $253.98 on Friday. The company has a 50 day simple moving average of $225.06 and a 200 day simple moving average of $235.12. The firm has a market cap of $21.52 billion, a PE ratio of 27.73, a price-to-earnings-growth ratio of 1.98 and a beta of 0.50. Royal Gold, Inc. has a 1 year low of $168.88 and a 1 year high of $306.25. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.92 and a quick ratio of 2.68.

Royal Gold (NASDAQ:RGLD - Get Free Report) TSE: RGL last posted its earnings results on Wednesday, August 5th. The basic materials company reported $2.56 EPS for the quarter, topping the consensus estimate of $2.55 by $0.01. Royal Gold had a net margin of 47.74% and a return on equity of 12.06%. The business had revenue of $468.98 million for the quarter, compared to the consensus estimate of $458.85 million. During the same period last year, the company earned $1.81 EPS. The firm's revenue was up 114.9% compared to the same quarter last year. On average, research analysts forecast that Royal Gold, Inc. will post 10.26 EPS for the current year.

Royal Gold Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Friday, October 2nd will be given a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Friday, October 2nd. Royal Gold's dividend payout ratio (DPR) is currently 20.74%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on RGLD shares. Weiss Ratings cut Royal Gold from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday, August 4th. Jefferies Financial Group reduced their price objective on Royal Gold from $318.00 to $311.00 and set a "buy" rating on the stock in a research note on Monday, July 6th. Zacks Research upgraded Royal Gold from a "strong sell" rating to a "hold" rating in a research report on Monday. Scotiabank reissued a "sector perform" rating and issued a $310.00 target price on shares of Royal Gold in a report on Tuesday, July 14th. Finally, TD raised their price target on shares of Royal Gold from $289.00 to $315.00 and gave the company a "buy" rating in a research note on Thursday. Eight research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $287.82.

About Royal Gold

Royal Gold, Inc is a precious metals streaming and royalty company headquartered in Denver, Colorado. Rather than operating mines directly, the company provides financing to mining companies in exchange for the right to purchase a portion of the metals produced from certain projects at predetermined prices, or to receive revenue-based payments tied to mineral production.

Royal Gold's portfolio is organized into two primary businesses: streams and royalties. Its streaming agreements generally provide rights to purchase gold, silver, copper or other metals from mining operations, while its royalty interests entitle the company to a percentage of revenue or production from a mine without bearing the operator's ongoing costs.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.