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

Several other institutional investors and hedge funds have also recently bought and sold shares of RGLD. WPG Advisers LLC purchased a new stake in shares of Royal Gold during the 1st quarter valued at $27,000. Alpine Bank Wealth Management acquired a new stake in Royal Gold during the first quarter worth about $32,000. Banque Cantonale Vaudoise acquired a new position in shares of Royal Gold in the 1st quarter valued at about $34,000. Bayforest Capital Ltd lifted its stake in shares of Royal Gold by 256.5% in the 1st quarter. Bayforest Capital Ltd now owns 246 shares of the basic materials company's stock valued at $40,000 after purchasing an additional 177 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in shares of Royal Gold during the 1st quarter worth about $40,000. Institutional investors and hedge funds own 83.65% of the company's stock.

Wall Street Analysts Forecast Growth

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

Royal Gold Trading Up 0.1%

RGLD stock opened at $189.32 on Monday. Royal Gold, Inc. has a twelve month low of $130.67 and a twelve month high of $191.78. The company has a market capitalization of $12.46 billion, a P/E ratio of 27.76, a PEG ratio of 1.39 and a beta of 0.43. The firm has a 50 day simple moving average of $167.93 and a 200-day simple moving average of $170.33.

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

Royal Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Friday, October 3rd will be issued a $0.45 dividend. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $1.80 annualized dividend and a yield of 1.0%. Royal Gold's dividend payout ratio is presently 26.39%.

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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