Exchange Traded Concepts LLC Acquires 14,891 Shares of Royal Gold, Inc. (NASDAQ:RGLD)

Exchange Traded Concepts LLC grew its holdings in Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL by 7,920.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,079 shares of the basic materials company's stock after acquiring an additional 14,891 shares during the period. Exchange Traded Concepts LLC's holdings in Royal Gold were worth $2,466,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Royal Gold by 61.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 29,963 shares of the basic materials company's stock worth $4,899,000 after acquiring an additional 11,435 shares in the last quarter. Everhart Financial Group Inc. boosted its position in Royal Gold by 29.3% during the first quarter. Everhart Financial Group Inc. now owns 2,588 shares of the basic materials company's stock worth $423,000 after purchasing an additional 587 shares during the period. NorthCrest Asset Manangement LLC bought a new stake in Royal Gold during the first quarter worth approximately $503,000. Fifth Third Bancorp boosted its position in Royal Gold by 50.7% during the first quarter. Fifth Third Bancorp now owns 871 shares of the basic materials company's stock worth $142,000 after purchasing an additional 293 shares during the period. Finally, Fiduciary Financial Group LLC bought a new stake in Royal Gold during the first quarter worth approximately $309,000. 83.65% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on RGLD. 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. Canaccord Genuity Group upped their price target on shares of Royal Gold from $202.00 to $203.00 in a report on Wednesday, June 11th. Scotiabank upgraded shares of Royal Gold from a "sector perform" rating to a "sector outperform" rating and upped their price target for the company from $166.00 to $189.00 in a report on Monday, April 14th. Wall Street Zen upgraded shares of Royal Gold from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 24th. Finally, Royal Bank Of Canada decreased their target price on Royal Gold from $175.00 to $170.00 and set an "outperform" rating for the company in a research note on Friday, April 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Royal Gold has a consensus rating of "Moderate Buy" and an average target price of $185.33.

Royal Gold Stock Up 0.1%

Royal Gold stock traded up $0.22 during mid-day trading on Friday, reaching $179.35. The company had a trading volume of 1,144,389 shares, compared to its average volume of 434,268. The company has a 50 day moving average of $179.39 and a 200-day moving average of $158.23. Royal Gold, Inc. has a 52 week low of $122.51 and a 52 week high of $191.78. The firm has a market cap of $11.80 billion, a price-to-earnings ratio of 29.69, a PEG ratio of 1.31 and a beta of 0.44.

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

Royal Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 17th. Shareholders of record on Thursday, July 3rd will be given a $0.45 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.00%. Royal Gold's dividend payout ratio is currently 29.80%.

Royal Gold 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.