Ethic Inc. Has $3.66 Million Stake in Royal Gold, Inc. (NASDAQ:RGLD)

Key Points

• Ethic Inc. increased its stake in Royal Gold, Inc. by 8.8%, owning 22,296 shares worth $3.66 million at the end of the most recent quarter.
• Royal Gold reported $1.81 EPS for its last quarter, exceeding analysts' expectations of $1.70, along with a revenue of $209.64 million, which was well above the consensus estimate.
• The company recently announced a quarterly dividend of $0.45, resulting in an annualized dividend of $1.80 and a yield of 1.0%.

Ethic Inc. boosted its position in shares of Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL by 8.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,296 shares of the basic materials company's stock after buying an additional 1,807 shares during the period. Ethic Inc.'s holdings in Royal Gold were worth $3,662,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of RGLD. GAMMA Investing LLC boosted its position in Royal Gold by 17,722.4% during the 1st quarter. GAMMA Investing LLC now owns 457,501 shares of the basic materials company's stock worth $74,806,000 after buying an additional 454,934 shares during the period. Select Equity Group L.P. acquired a new stake in Royal Gold during the 4th quarter worth approximately $55,825,000. Nuveen LLC acquired a new stake in Royal Gold during the 1st quarter worth approximately $40,882,000. Victory Capital Management Inc. boosted its position in Royal Gold by 117.0% during the 1st quarter. Victory Capital Management Inc. now owns 415,179 shares of the basic materials company's stock worth $67,886,000 after buying an additional 223,870 shares during the period. Finally, BLI Banque de Luxembourg Investments acquired a new stake in Royal Gold during the 4th quarter worth approximately $27,536,000. 83.65% of the stock is currently owned by institutional investors and hedge funds.

Royal Gold Price Performance

RGLD opened at $171.45 on Friday. The company has a market capitalization of $11.29 billion, a price-to-earnings ratio of 25.14, a P/E/G ratio of 1.22 and a beta of 0.40. The firm's fifty day moving average price is $167.55 and its two-hundred day moving average price is $165.62. Royal Gold, Inc. has a 1 year low of $130.67 and a 1 year high of $191.78.

Royal Gold (NASDAQ:RGLD - Get Free Report) TSE: RGL last posted its quarterly earnings data on Wednesday, August 6th. The basic materials company reported $1.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.70 by $0.11. The firm had revenue of $209.64 million for the quarter, compared to the consensus estimate of $186.63 million. Royal Gold had a net margin of 56.24% and a return on equity of 13.30%. The business's revenue for the quarter was up 20.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.25 EPS. As a group, equities analysts anticipate that Royal Gold, Inc. will post 6.2 EPS for the current year.

Royal Gold Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 17th. Investors of record on Thursday, July 3rd were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Thursday, July 3rd. Royal Gold's payout ratio is 26.39%.

Wall Street Analysts Forecast Growth

RGLD has been the topic of several recent research reports. CIBC lifted their target price on shares of Royal Gold from $202.00 to $215.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. BMO Capital Markets set a $197.00 target price on shares of Royal Gold and gave the stock a "market perform" rating in a research report on Thursday, May 22nd. Wall Street Zen downgraded shares of Royal Gold from a "buy" rating to a "hold" rating in a research report on Saturday. TD Securities reiterated a "buy" rating and set a $237.00 target price (up from $229.00) on shares of Royal Gold in a research report on Friday, August 8th. Finally, Canaccord Genuity Group lifted their target price on shares of Royal Gold from $202.00 to $203.00 in a research report on Wednesday, June 11th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $198.63.

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.

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