Harbor Capital Advisors Inc. Purchases New Shares in Royal Gold, Inc. (NASDAQ:RGLD)

Harbor Capital Advisors Inc. purchased a new position in shares of Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 7,670 shares of the basic materials company's stock, valued at approximately $1,254,000.

Several other hedge funds have also recently added to or reduced their stakes in RGLD. GAMMA Investing LLC increased its stake in Royal Gold by 17,722.4% in the 1st quarter. GAMMA Investing LLC now owns 457,501 shares of the basic materials company's stock worth $74,806,000 after purchasing an additional 454,934 shares during the period. Select Equity Group L.P. purchased a new position in Royal Gold in the 4th quarter worth approximately $55,825,000. Norges Bank purchased a new position in Royal Gold in the 4th quarter worth approximately $44,009,000. BLI Banque de Luxembourg Investments purchased a new position in Royal Gold in the 4th quarter worth approximately $27,536,000. Finally, Arrowstreet Capital Limited Partnership increased its stake in Royal Gold by 181.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 302,206 shares of the basic materials company's stock worth $39,846,000 after purchasing an additional 194,905 shares during the period. Institutional investors own 83.65% of the company's stock.

Royal Gold Stock Performance

Shares of NASDAQ RGLD traded down $2.59 during mid-day trading on Monday, hitting $179.70. 791,009 shares of the stock traded hands, compared to its average volume of 433,662. Royal Gold, Inc. has a 52 week low of $120.00 and a 52 week high of $191.78. The company has a market cap of $11.83 billion, a price-to-earnings ratio of 35.65, a PEG ratio of 3.42 and a beta of 0.44. The stock has a fifty day moving average price of $178.63 and a 200-day moving average price of $157.42.

Royal Gold (NASDAQ:RGLD - Get Free Report) TSE: RGL last released its quarterly 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 return on equity of 11.46% and a net margin of 46.15%. The company had revenue of $193.44 million for the quarter, compared to analyst estimates of $176.17 million. During the same period in the previous year, the company posted $0.91 earnings per share. The firm's revenue was up 29.9% on a year-over-year basis. As a group, sell-side analysts predict that Royal Gold, Inc. will post 6.2 EPS for the current fiscal year.

Royal Gold Announces Dividend

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

Analysts Set New Price Targets

RGLD has been the topic of a number of analyst reports. Royal Bank of Canada decreased their price target on Royal Gold from $175.00 to $170.00 and set an "outperform" rating on the stock in a research note on Friday, April 4th. Scotiabank raised Royal Gold from a "sector perform" rating to a "sector outperform" rating and boosted their target price for the company from $166.00 to $189.00 in a research note on Monday, April 14th. BMO Capital Markets set a $197.00 target price on Royal Gold and gave the company a "market perform" rating in a research note on Thursday, May 22nd. Raymond James boosted their target price on Royal Gold from $181.00 to $200.00 and gave the company an "outperform" rating in a research note on Friday, April 4th. Finally, Wall Street Zen raised Royal Gold from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $185.33.

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.