Friedenthal Financial Acquires Shares of 4,959 Royal Gold, Inc. $RGLD

Key Points

• Friedenthal Financial acquired 4,959 shares of Royal Gold, Inc. valued at approximately $882,000 during the 2nd quarter, contributing to the total institutional ownership of 83.65% in the company.
• Multiple analysts have recently upgraded Royal Gold's stock, with Wall Street Zen raising its rating from "hold" to "buy" and TD Securities increasing its target price from $229.00 to $237.00.
• Royal Gold announced a quarterly dividend of $0.45 per share, with a record date of October 3, translating to an annualized dividend yield of 0.9%.

Friedenthal Financial acquired a new stake in Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 4,959 shares of the basic materials company's stock, valued at approximately $882,000.

Other hedge funds also recently bought and sold shares of the company. Oxbow Advisors LLC grew its position in Royal Gold by 1.8% in the 1st quarter. Oxbow Advisors LLC now owns 116,887 shares of the basic materials company's stock valued at $19,112,000 after acquiring an additional 2,039 shares during the last quarter. Kaufman Rossin Wealth LLC bought a new position in Royal Gold in the 1st quarter valued at $278,000. Swedbank AB grew its position in Royal Gold by 75.1% in the 1st quarter. Swedbank AB now owns 207,155 shares of the basic materials company's stock valued at $33,872,000 after acquiring an additional 88,828 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its position in Royal Gold by 8.0% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 27,196 shares of the basic materials company's stock valued at $4,447,000 after acquiring an additional 2,015 shares during the last quarter. Finally, Autumn Glory Partners LLC bought a new position in Royal Gold in the 2nd quarter valued at $587,000. Institutional investors own 83.65% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Wall Street Zen raised Royal Gold from a "hold" rating to a "buy" rating in a research report on Saturday, August 30th. TD Securities reiterated a "buy" rating and issued a $237.00 target price (up from $229.00) on shares of Royal Gold in a report on Friday, August 8th. Canaccord Genuity Group upped their target price on Royal Gold from $202.00 to $203.00 in a report on Wednesday, June 11th. Zacks Research cut Royal Gold from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 19th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Royal Gold in a report on Saturday, September 27th. Six investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $198.63.

Royal Gold Stock Performance

Shares of NASDAQ RGLD opened at $197.99 on Wednesday. The company has a market cap of $13.03 billion, a PE ratio of 29.03, a P/E/G ratio of 1.61 and a beta of 0.41. The business has a 50-day simple moving average of $180.63 and a two-hundred day simple moving average of $175.23. Royal Gold, Inc. has a fifty-two week low of $130.67 and a fifty-two week high of $205.90.

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 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.11. The business had revenue of $209.64 million during the quarter, compared to the consensus estimate of $186.63 million. Royal Gold had a return on equity of 13.30% and a net margin of 56.24%.The company's quarterly revenue was up 20.4% on a year-over-year basis. During the same quarter last year, the company earned $1.25 earnings per share. On average, sell-side analysts predict that Royal Gold, Inc. will post 6.2 earnings per share for the current fiscal year.

Royal Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Friday, October 3rd will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, October 3rd. Royal Gold's dividend payout ratio (DPR) is presently 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.

Want to see what other hedge funds are holding RGLD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.