Northwestern Mutual Wealth Management Co. Has $2.37 Million Stock Holdings in Royal Gold, Inc. $RGLD

Key Points

• Northwestern Mutual Wealth Management Co. has significantly increased its stake in Royal Gold, Inc. by 402.7%, now holding shares valued at approximately $2.37 million.
• Royal Gold reported a quarterly EPS of $1.81, exceeding analyst estimates, with revenue rising 20.4% year-over-year to $209.64 million.
• The company declared a quarterly dividend of $0.45 per share, set to be paid on October 17, 2023, representing an annualized dividend yield of 1.0%.

Northwestern Mutual Wealth Management Co. raised its holdings in Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL by 402.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,489 shares of the basic materials company's stock after acquiring an additional 11,607 shares during the quarter. Northwestern Mutual Wealth Management Co.'s holdings in Royal Gold were worth $2,369,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Oxbow Advisors LLC lifted its stake in Royal Gold by 1.8% in the first quarter. Oxbow Advisors LLC now owns 116,887 shares of the basic materials company's stock valued at $19,112,000 after acquiring an additional 2,039 shares during the last quarter. Kaufman Rossin Wealth LLC acquired a new stake in Royal Gold in the first quarter valued at approximately $278,000. Cambridge Investment Research Advisors Inc. lifted its stake in Royal Gold by 8.0% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 27,196 shares of the basic materials company's stock valued at $4,447,000 after acquiring an additional 2,015 shares during the last quarter. QRG Capital Management Inc. lifted its stake in shares of Royal Gold by 38.1% in the first quarter. QRG Capital Management Inc. now owns 3,718 shares of the basic materials company's stock worth $608,000 after buying an additional 1,025 shares during the last quarter. Finally, City Center Advisors LLC acquired a new stake in shares of Royal Gold in the first quarter worth $324,000. 83.65% of the stock is currently owned by institutional investors and hedge funds.

Royal Gold Stock Performance

Shares of RGLD stock opened at $179.58 on Friday. Royal Gold, Inc. has a 52-week low of $130.67 and a 52-week high of $191.78. The stock has a market cap of $11.82 billion, a price-to-earnings ratio of 26.33, a P/E/G ratio of 1.29 and a beta of 0.40. The firm has a fifty day moving average of $166.78 and a 200-day moving average of $167.61.

Royal Gold (NASDAQ:RGLD - Get Free Report) TSE: RGL last announced its quarterly earnings data 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. Royal Gold had a net margin of 56.24% and a return on equity of 13.30%. The company had revenue of $209.64 million during the quarter, compared to analysts' expectations of $186.63 million. During the same quarter in the prior year, the company posted $1.25 EPS. The business's revenue was up 20.4% on a year-over-year basis. On average, sell-side analysts predict that Royal Gold, Inc. will post 6.2 earnings per share for the current year.

Royal Gold Announces Dividend

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

Analysts Set New Price Targets

A number of brokerages have recently weighed in on RGLD. TD Securities restated a "buy" rating and issued a $237.00 price objective (up from $229.00) on shares of Royal Gold in a research note on Friday, August 8th. Canaccord Genuity Group boosted their price objective on shares of Royal Gold from $202.00 to $203.00 in a research note 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. CIBC boosted 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. Finally, Wall Street Zen upgraded shares of Royal Gold from a "hold" rating to a "buy" rating in a research note on Saturday. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Royal Gold currently has an average rating of "Moderate Buy" and an average target price of $198.63.

Royal Gold 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.

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