McIlrath & Eck LLC Acquires New Position in Royal Gold, Inc. $RGLD

Key Points

• McIlrath & Eck LLC has purchased 1,996 shares of Royal Gold, Inc., valued at approximately $326,000, indicating growing interest in the company among institutional investors.
• Royal Gold reported a 20.4% increase in revenue compared to the previous year, with earnings per share of $1.81, surpassing expectations.
• The company announced a quarterly dividend of $0.45 per share, providing a yield of 1.0% for investors, with the payment date set for October 17th.

McIlrath & Eck LLC purchased a new position in shares of Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,996 shares of the basic materials company's stock, valued at approximately $326,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in RGLD. PFG Investments LLC boosted its holdings in Royal Gold by 0.9% in the first quarter. PFG Investments LLC now owns 5,938 shares of the basic materials company's stock valued at $971,000 after acquiring an additional 54 shares during the last quarter. BCS Wealth Management lifted its stake in Royal Gold by 0.3% in the first quarter. BCS Wealth Management now owns 20,704 shares of the basic materials company's stock valued at $3,385,000 after buying an additional 63 shares during the period. NorthRock Partners LLC lifted its stake in Royal Gold by 4.5% in the first quarter. NorthRock Partners LLC now owns 1,586 shares of the basic materials company's stock valued at $259,000 after buying an additional 68 shares during the period. GoalVest Advisory LLC lifted its stake 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 buying an additional 75 shares during the period. Finally, Oregon Public Employees Retirement Fund lifted its stake in Royal Gold by 0.7% in the first quarter. Oregon Public Employees Retirement Fund now owns 13,471 shares of the basic materials company's stock valued at $2,203,000 after buying an additional 100 shares during the period. 83.65% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on RGLD shares. Wall Street Zen raised Royal Gold from a "hold" rating to a "buy" rating in a research note on Saturday, August 30th. Zacks Research lowered Royal Gold from a "strong-buy" rating to a "hold" rating in a research note 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 research note on Friday, August 8th. BMO Capital Markets set a $197.00 price target on Royal Gold and gave the company a "market perform" rating in a research note on Thursday, May 22nd. Finally, Canaccord Genuity Group upped their target price on Royal Gold from $202.00 to $203.00 in a research report on Wednesday, June 11th. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $198.63.

Royal Gold Stock Performance

NASDAQ RGLD traded up $0.13 during trading hours on Friday, hitting $189.32. The company had a trading volume of 616,041 shares, compared to its average volume of 637,352. Royal Gold, Inc. has a 52 week low of $130.67 and a 52 week high of $191.78. The firm has a 50 day simple moving average of $167.74 and a 200 day simple moving average of $169.76. The firm has a market capitalization of $12.46 billion, a price-to-earnings ratio of 27.76, a PEG ratio of 1.36 and a beta of 0.43.

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 (EPS) 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 return on equity of 13.30% and a net margin of 56.24%.The company's revenue for the quarter was up 20.4% on a year-over-year basis. During the same quarter last year, the company posted $1.25 EPS. On average, research analysts forecast that Royal Gold, Inc. will post 6.2 earnings per share for the current year.

Royal Gold Announces Dividend

The company 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 dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, October 3rd. Royal Gold's dividend payout ratio (DPR) is currently 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.