Ieq Capital LLC Has $14.73 Million Position in Royal Gold, Inc. $RGLD

Key Points

• Ieq Capital LLC increased its stake in Royal Gold, Inc. by 113.0% during the first quarter, holding approximately $14.73 million in shares.
• Royal Gold reported earnings of $1.81 per share for the last quarter, surpassing analysts' expectations and achieving a revenue increase of 20.4% year-over-year.
• The company announced a quarterly dividend of $0.45 per share, resulting in an annualized yield of 1.0%, with the payout set for October 17th.

Ieq Capital LLC lifted its stake in Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL by 113.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 90,077 shares of the basic materials company's stock after acquiring an additional 47,779 shares during the quarter. Ieq Capital LLC owned approximately 0.14% of Royal Gold worth $14,728,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Alpine Bank Wealth Management acquired a new stake in shares of Royal Gold during the 1st quarter valued at about $32,000. Banque Cantonale Vaudoise bought a new position in Royal Gold during the first quarter valued at approximately $34,000. Bayforest Capital Ltd raised its position in Royal Gold by 256.5% during the first quarter. Bayforest Capital Ltd now owns 246 shares of the basic materials company's stock valued at $40,000 after acquiring an additional 177 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Royal Gold in the first quarter valued at approximately $40,000. Finally, Brooklyn Investment Group lifted its stake in Royal Gold by 961.5% in the first quarter. Brooklyn Investment Group now owns 276 shares of the basic materials company's stock valued at $45,000 after acquiring an additional 250 shares during the last quarter. Institutional investors and hedge funds own 83.65% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. TD Securities restated a "buy" rating and set a $237.00 price target (up previously from $229.00) on shares of Royal Gold in a report on Friday, August 8th. BMO Capital Markets set a $197.00 target price on shares of Royal Gold and gave the stock a "market perform" rating in a research report on Thursday, May 22nd. CIBC raised their target price on Royal Gold from $202.00 to $215.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Canaccord Genuity Group upped their price target on Royal Gold from $202.00 to $203.00 in a research note on Wednesday, June 11th. Finally, Wall Street Zen lowered Royal Gold from a "buy" rating to a "hold" rating in a report on Saturday, August 16th. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $198.63.

Royal Gold Stock Down 0.5%

Shares of NASDAQ RGLD opened at $176.97 on Thursday. The company has a market cap of $11.65 billion, a P/E ratio of 25.95, a P/E/G ratio of 1.30 and a beta of 0.40. Royal Gold, Inc. has a 12 month low of $130.67 and a 12 month high of $191.78. The business's 50 day moving average is $166.84 and its two-hundred day moving average is $167.17.

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, beating analysts' consensus estimates of $1.70 by $0.11. The firm had revenue of $209.64 million during the quarter, compared to the consensus estimate of $186.63 million. Royal Gold had a net margin of 56.24% and a return on equity of 13.30%. The business's revenue was up 20.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.25 EPS. Sell-side analysts expect that Royal Gold, Inc. will post 6.2 earnings per share for the current fiscal year.

Royal Gold Dividend Announcement

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

About Royal Gold

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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