First Hawaiian Bank Takes $548,000 Position in Royal Gold, Inc. $RGLD

Key Points

• First Hawaiian Bank has acquired a new position in Royal Gold, Inc., purchasing 3,349 shares valued at approximately $548,000 during the 1st quarter of 2023.
• Research analysts have shown positive outlook for Royal Gold, with five analysts rating it as a "Buy" and a consensus price target of $198.63.
• Royal Gold will pay a $0.45 quarterly dividend to shareholders on October 17th, representing a 1.0% annual yield.

First Hawaiian Bank acquired a new position in Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 3,349 shares of the basic materials company's stock, valued at approximately $548,000.

Several other institutional investors have also recently modified their holdings of the company. PFG Investments LLC raised its stake in shares of Royal Gold by 0.9% in the first quarter. PFG Investments LLC now owns 5,938 shares of the basic materials company's stock worth $971,000 after purchasing an additional 54 shares during the last quarter. BCS Wealth Management raised its stake in shares of Royal Gold by 0.3% in the first quarter. BCS Wealth Management now owns 20,704 shares of the basic materials company's stock worth $3,385,000 after purchasing an additional 63 shares during the last quarter. NorthRock Partners LLC raised its stake in shares of Royal Gold by 4.5% in the first quarter. NorthRock Partners LLC now owns 1,586 shares of the basic materials company's stock worth $259,000 after purchasing an additional 68 shares during the last quarter. GoalVest Advisory LLC lifted its holdings in Royal Gold by 5.2% in the first quarter. GoalVest Advisory LLC now owns 1,505 shares of the basic materials company's stock valued at $246,000 after acquiring an additional 75 shares during the period. Finally, Intech Investment Management LLC lifted its holdings in Royal Gold by 0.5% in the first quarter. Intech Investment Management LLC now owns 16,544 shares of the basic materials company's stock valued at $2,705,000 after acquiring an additional 78 shares during the period. 83.65% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RGLD has been the subject of a number of analyst reports. BMO Capital Markets set a $197.00 price target on Royal Gold and gave the company a "market perform" rating in a report on Thursday, May 22nd. Zacks Research downgraded Royal Gold from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 19th. TD Securities reissued a "buy" rating and issued a $237.00 price target (up from $229.00) on shares of Royal Gold in a report on Friday, August 8th. Canaccord Genuity Group boosted their price target on Royal Gold from $202.00 to $203.00 in a report on Wednesday, June 11th. Finally, Wall Street Zen raised Royal Gold from a "hold" rating to a "buy" rating in a report on Saturday, August 30th. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $198.63.

Royal Gold Stock Performance

Shares of RGLD traded up $3.65 during trading hours on Friday, hitting $191.67. 4,324,266 shares of the stock were exchanged, compared to its average volume of 719,789. Royal Gold, Inc. has a 12-month low of $130.67 and a 12-month high of $196.00. The company has a market cap of $12.62 billion, a price-to-earnings ratio of 28.10, a price-to-earnings-growth ratio of 1.49 and a beta of 0.43. The stock's 50-day moving average price is $170.83 and its two-hundred day moving average price is $171.51.

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

Royal Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Friday, October 3rd will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $1.80 dividend on an annualized basis and a yield of 0.9%. Royal Gold's payout ratio is 26.39%.

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.