Ninety One UK Ltd cut its holdings in Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL by 16.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor 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 filing with the Securities and Exchange Commission.
Several other hedge funds have also recently made changes to their positions in RGLD. US Bancorp DE raised its position in shares of Royal Gold by 10.1% in the 4th quarter. US Bancorp DE now owns 3,215 shares of the basic materials company's stock worth $424,000 after acquiring an additional 295 shares in the last quarter. Jones Financial Companies Lllp increased its position in Royal Gold by 390.7% in the 4th quarter. Jones Financial Companies Lllp now owns 368 shares of the basic materials company's stock valued at $49,000 after buying an additional 293 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in 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 valued at $63,843,000 after buying an additional 5,067 shares in the last quarter. M&T Bank Corp increased its position in Royal Gold by 17.1% in the 4th quarter. M&T Bank Corp now owns 3,860 shares of the basic materials company's stock valued at $509,000 after buying an additional 564 shares in the last quarter. Finally, Proficio Capital Partners LLC bought a new stake in Royal Gold in the 4th quarter valued at about $18,427,000. 83.65% of the stock is owned by institutional investors.
Royal Gold Trading Down 4.8%
Shares of NASDAQ:RGLD traded down $8.01 on Tuesday, reaching $160.23. 1,916,037 shares of the company traded hands, compared to its average volume of 457,375. The business's 50-day simple moving average is $178.22 and its 200 day simple moving average is $160.91. Royal Gold, Inc. has a 52 week low of $125.69 and a 52 week high of $191.78. The stock has a market capitalization of $10.55 billion, a P/E ratio of 26.53, a price-to-earnings-growth ratio of 1.30 and a beta of 0.44.
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 (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.14. The company had revenue of $193.44 million for the quarter, compared to analysts' expectations of $176.17 million. Royal Gold had a return on equity of 12.48% and a net margin of 52.15%. Royal Gold's quarterly revenue was up 29.9% on a year-over-year basis. During the same period last year, the firm earned $0.91 earnings per share. Sell-side analysts expect 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 will be paid on Thursday, July 17th. Investors of record on Thursday, July 3rd will be paid a $0.45 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $1.80 annualized dividend and a dividend yield of 1.12%. Royal Gold's payout ratio is presently 29.80%.
Wall Street Analyst Weigh In
A number of analysts recently commented on the company. BMO Capital Markets set a $197.00 target price on Royal Gold and gave the company a "market perform" rating in a research report on Thursday, May 22nd. Raymond James Financial boosted 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. CIBC boosted their target price on Royal Gold from $202.00 to $215.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. 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 report on Monday, April 14th. Finally, Royal Bank Of Canada decreased their target price on Royal Gold from $175.00 to $170.00 and set an "outperform" rating for the company in a research report on Friday, April 4th. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $192.13.
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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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