New York State Common Retirement Fund increased its position in shares of Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL by 4.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 45,604 shares of the basic materials company's stock after purchasing an additional 1,803 shares during the period. New York State Common Retirement Fund owned approximately 0.07% of Royal Gold worth $7,457,000 at the end of the most recent quarter.
Other hedge funds also recently added to or reduced their stakes in the company. Alpine Bank Wealth Management purchased a new stake in Royal Gold in the 1st quarter valued at about $32,000. HM Payson & Co. boosted its holdings in shares of Royal Gold by 4,545.5% in the first quarter. HM Payson & Co. now owns 511 shares of the basic materials company's stock valued at $84,000 after purchasing an additional 500 shares during the period. Physician Wealth Advisors Inc. purchased a new stake in shares of Royal Gold in the fourth quarter valued at approximately $95,000. Nemes Rush Group LLC bought a new position in Royal Gold in the fourth quarter worth approximately $129,000. Finally, Farther Finance Advisors LLC increased its holdings in Royal Gold by 29.5% during the 1st quarter. Farther Finance Advisors LLC now owns 812 shares of the basic materials company's stock worth $133,000 after purchasing an additional 185 shares during the period. 83.65% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of research firms have weighed in on RGLD. CIBC upped their target price on Royal Gold from $202.00 to $215.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. Canaccord Genuity Group upped their price objective on shares of Royal Gold from $202.00 to $203.00 in a report on Wednesday, June 11th. BMO Capital Markets set a $197.00 price objective on shares of Royal Gold and gave the stock a "market perform" rating in a research note on Thursday, May 22nd. Raymond James Financial upped their target price on Royal Gold from $181.00 to $200.00 and gave the company an "outperform" rating in a research report on Friday, April 4th. Finally, Wall Street Zen upgraded Royal Gold from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 24th. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $192.13.
Check Out Our Latest Research Report on RGLD
Royal Gold Price Performance
NASDAQ RGLD opened at $154.76 on Friday. The stock's 50 day simple moving average is $174.19 and its 200-day simple moving average is $162.31. The company has a market cap of $10.19 billion, a PE ratio of 25.62, a price-to-earnings-growth ratio of 1.09 and a beta of 0.44. Royal Gold, Inc. has a 1-year low of $125.69 and a 1-year high of $191.78.
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 EPS for the quarter, beating the consensus estimate of $1.37 by $0.14. The firm had revenue of $193.44 million for the quarter, compared to analyst estimates of $176.17 million. Royal Gold had a net margin of 52.15% and a return on equity of 12.48%. The business's revenue for the quarter was up 29.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.91 EPS. On average, equities research analysts anticipate that Royal Gold, Inc. will post 6.2 EPS for the current fiscal year.
Royal Gold Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, July 17th. Shareholders of record on Thursday, July 3rd were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $1.80 dividend on an annualized basis and a yield of 1.16%. Royal Gold's dividend payout ratio (DPR) is presently 29.80%.
About Royal Gold
(
Free Report)
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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