Nuveen LLC Makes New $40.88 Million Investment in Royal Gold, Inc. (NASDAQ:RGLD)

Key Points

• Nuveen LLC has made a substantial investment of approximately $40.88 million in Royal Gold, acquiring 250,026 shares in the first quarter, which constitutes about 0.38% of the company's total stock.
• Royal Gold reported significant financial performance with earnings per share of $1.81, beating estimates, and a revenue increase of 20.4% year-over-year during its latest quarterly reporting.
• The firm declared a quarterly dividend of $0.45 per share, achieving a dividend yield of 1.0%, while its payout ratio stands at 26.39%.

Nuveen LLC purchased a new position in Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 250,026 shares of the basic materials company's stock, valued at approximately $40,882,000. Nuveen LLC owned approximately 0.38% of Royal Gold as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of RGLD. Invesco Ltd. grew its position in shares of Royal Gold by 2.3% during the first quarter. Invesco Ltd. now owns 776,840 shares of the basic materials company's stock worth $127,021,000 after purchasing an additional 17,649 shares in the last quarter. Covestor Ltd grew its position in shares of Royal Gold by 53.4% during the first quarter. Covestor Ltd now owns 1,292 shares of the basic materials company's stock worth $211,000 after purchasing an additional 450 shares in the last quarter. Townsquare Capital LLC grew its position in shares of Royal Gold by 20.2% during the first quarter. Townsquare Capital LLC now owns 2,735 shares of the basic materials company's stock worth $447,000 after purchasing an additional 460 shares in the last quarter. Savvy Advisors Inc. purchased a new stake in shares of Royal Gold during the first quarter worth about $299,000. Finally, Ontario Teachers Pension Plan Board grew its position in shares of Royal Gold by 24.8% during the first quarter. Ontario Teachers Pension Plan Board now owns 20,597 shares of the basic materials company's stock worth $3,368,000 after purchasing an additional 4,089 shares in the last quarter. Hedge funds and other institutional investors own 83.65% of the company's stock.

Royal Gold Price Performance

NASDAQ:RGLD opened at $171.45 on Friday. The firm has a market capitalization of $11.29 billion, a price-to-earnings ratio of 25.14, a PEG ratio of 1.20 and a beta of 0.40. Royal Gold, Inc. has a 1 year low of $130.67 and a 1 year high of $191.78. The business has a 50 day simple moving average of $167.55 and a 200-day simple moving average of $165.42.

Royal Gold (NASDAQ:RGLD - Get Free Report) TSE: RGL last posted its quarterly earnings data on Wednesday, August 6th. The basic materials company reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.11. The business had revenue of $209.64 million during the quarter, compared to analyst estimates 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 period last year, the company earned $1.25 EPS. As a group, analysts expect that Royal Gold, Inc. will post 6.2 earnings per share for the current fiscal year.

Royal Gold Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 17th. Investors of record on Thursday, July 3rd were paid 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 was Thursday, July 3rd. Royal Gold's dividend payout ratio (DPR) is currently 26.39%.

Wall Street Analysts Forecast Growth

RGLD has been the subject of several research analyst reports. Wall Street Zen cut Royal Gold from a "buy" rating to a "hold" rating in a research report on Saturday. TD Securities reiterated a "buy" rating and set a $237.00 target price (up previously from $229.00) on shares of Royal Gold in a research report on Friday, August 8th. BMO Capital Markets set a $197.00 target price on Royal Gold and gave the stock a "market perform" rating in a research report on Thursday, May 22nd. CIBC raised their price target on Royal Gold from $202.00 to $215.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Finally, Canaccord Genuity Group raised their price target on Royal Gold from $202.00 to $203.00 in a report on Wednesday, June 11th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $198.63.

About Royal Gold

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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