California State Teachers Retirement System Increases Position in Royal Gold, Inc. $RGLD

California State Teachers Retirement System raised its holdings in Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL by 20.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 98,583 shares of the basic materials company's stock after acquiring an additional 16,418 shares during the period. California State Teachers Retirement System owned approximately 0.12% of Royal Gold worth $25,088,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Greenleaf Trust increased its holdings in shares of Royal Gold by 2.9% in the fourth quarter. Greenleaf Trust now owns 1,538 shares of the basic materials company's stock valued at $342,000 after purchasing an additional 43 shares during the last quarter. Bank of Nova Scotia boosted its stake in Royal Gold by 2.9% during the first quarter. Bank of Nova Scotia now owns 1,526 shares of the basic materials company's stock worth $388,000 after buying an additional 43 shares during the last quarter. Apollon Wealth Management LLC boosted its stake in Royal Gold by 1.5% during the first quarter. Apollon Wealth Management LLC now owns 2,905 shares of the basic materials company's stock worth $739,000 after buying an additional 44 shares during the last quarter. WPG Advisers LLC grew its holdings in Royal Gold by 34.1% in the 4th quarter. WPG Advisers LLC now owns 181 shares of the basic materials company's stock valued at $40,000 after buying an additional 46 shares in the last quarter. Finally, Hilltop Holdings Inc. grew its holdings in Royal Gold by 0.6% in the 1st quarter. Hilltop Holdings Inc. now owns 7,432 shares of the basic materials company's stock valued at $1,891,000 after buying an additional 46 shares in the last quarter. 83.65% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

RGLD has been the topic of several analyst reports. National Bank Financial reduced their price target on Royal Gold from $350.00 to $340.00 and set an "outperform" rating on the stock in a report on Friday, April 17th. Zacks Research raised shares of Royal Gold from a "strong sell" rating to a "hold" rating in a report on Thursday, July 2nd. Jefferies Financial Group cut their price objective on shares of Royal Gold from $318.00 to $311.00 and set a "buy" rating for the company in a research report on Monday, July 6th. Scotiabank reaffirmed a "sector perform" rating and set a $310.00 target price on shares of Royal Gold in a research note on Tuesday, July 14th. Finally, Weiss Ratings lowered shares of Royal Gold from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, June 11th. Nine research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $280.27.

Insider Buying and Selling

In other Royal Gold news, SVP Randy Shefman sold 1,000 shares of the company's stock in a transaction dated 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 owned 9,082 shares of the company's stock, valued at $2,213,646.68. This represents a 9.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.35% of the stock is owned by insiders.

Royal Gold Stock Performance

Shares of Royal Gold stock opened at $198.35 on Friday. Royal Gold, Inc. has a 52 week low of $150.99 and a 52 week high of $306.25. The business's fifty day simple moving average is $205.31 and its 200-day simple moving average is $241.27. The firm has a market cap of $16.83 billion, a PE ratio of 23.64, a price-to-earnings-growth ratio of 1.45 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 16th. Investors of record on Thursday, July 2nd were issued a $0.475 dividend. This represents a $1.90 annualized dividend and a yield of 1.0%. The ex-dividend date was Thursday, July 2nd. Royal Gold's payout ratio is 22.65%.

Royal Gold Company Profile

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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