Ninety One UK Ltd Reduces Position in Royal Gold, Inc. (NASDAQ:RGLD)

Ninety One UK Ltd reduced its stake in Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL by 16.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 216,631 shares of the basic materials company's stock after selling 41,396 shares during the period. Ninety One UK Ltd owned approximately 0.33% of Royal Gold worth $35,421,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Royal Gold in the 4th quarter worth about $741,000. Arizona State Retirement System grew its stake in Royal Gold by 0.8% in the 4th quarter. Arizona State Retirement System now owns 19,076 shares of the basic materials company's stock worth $2,515,000 after acquiring an additional 149 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its stake 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 worth $4,447,000 after acquiring an additional 2,015 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Royal Gold by 1.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 484,207 shares of the basic materials company's stock worth $63,843,000 after purchasing an additional 5,067 shares during the period. Finally, QRG Capital Management Inc. lifted its position in shares of Royal Gold by 38.1% in the 1st quarter. QRG Capital Management Inc. now owns 3,718 shares of the basic materials company's stock worth $608,000 after purchasing an additional 1,025 shares during the period. 83.65% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on RGLD. BMO Capital Markets set a $197.00 price target on shares of Royal Gold and gave the stock a "market perform" rating in a research report on Thursday, May 22nd. Scotiabank upgraded shares of Royal Gold from a "sector perform" rating to a "sector outperform" rating and increased their price objective for the stock from $166.00 to $189.00 in a research note on Monday, April 14th. CIBC increased their price objective on shares of Royal Gold from $202.00 to $215.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Raymond James Financial raised their price target on shares of Royal Gold from $181.00 to $200.00 and gave the company an "outperform" rating in a research report on Friday, April 4th. Finally, Royal Bank Of Canada dropped their price target on shares of Royal Gold from $175.00 to $170.00 and set an "outperform" rating on the stock in a research report on Friday, April 4th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $192.13.

Royal Gold Price Performance

RGLD traded up $0.17 on Friday, reaching $159.96. 1,133,308 shares of the company's stock were exchanged, compared to its average volume of 463,106. The stock has a market cap of $10.53 billion, a PE ratio of 26.48, a P/E/G ratio of 1.14 and a beta of 0.44. Royal Gold, Inc. has a twelve month low of $125.69 and a twelve month high of $191.78. The stock's fifty day moving average price is $176.67 and its 200-day moving average price is $161.27.

Royal Gold (NASDAQ:RGLD - Get Free Report) TSE: RGL last posted its 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. The company 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%. Royal Gold's revenue was up 29.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.91 EPS. As a group, research analysts predict that Royal Gold, Inc. will post 6.2 earnings per share for the current fiscal year.

Royal Gold Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 17th. Stockholders of record on Thursday, July 3rd will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date of this dividend is Thursday, July 3rd. Royal Gold's dividend payout ratio (DPR) is 29.80%.

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.