Ontario Teachers Pension Plan Board Raises Holdings in Royal Gold, Inc. (NASDAQ:RGLD)

Key Points

• The Ontario Teachers Pension Plan Board increased its stake in Royal Gold, Inc. by 24.8% in the first quarter, owning 20,597 shares valued at approximately $3.37 million.
• Several hedge funds have also increased their positions, with institutional investors owning 83.65% of Royal Gold's stock.
• Analysts have adjusted their price targets for Royal Gold, with the consensus target now at $192.13, and multiple firms giving the stock a "Moderate Buy" rating.

Ontario Teachers Pension Plan Board boosted its holdings in shares of Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL by 24.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 20,597 shares of the basic materials company's stock after purchasing an additional 4,089 shares during the quarter. Ontario Teachers Pension Plan Board's holdings in Royal Gold were worth $3,368,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Alpine Bank Wealth Management purchased a new position in Royal Gold during the 1st quarter valued at approximately $32,000. Banque Cantonale Vaudoise purchased a new position in Royal Gold during the 1st quarter valued at approximately $34,000. Bayforest Capital Ltd grew its holdings in Royal Gold by 256.5% during the 1st quarter. Bayforest Capital Ltd now owns 246 shares of the basic materials company's stock valued at $40,000 after buying an additional 177 shares in the last quarter. Larson Financial Group LLC grew its holdings in Royal Gold by 77.0% during the 1st quarter. Larson Financial Group LLC now owns 439 shares of the basic materials company's stock valued at $72,000 after buying an additional 191 shares in the last quarter. Finally, HM Payson & Co. grew its holdings in Royal Gold by 4,545.5% during the 1st quarter. HM Payson & Co. now owns 511 shares of the basic materials company's stock valued at $84,000 after buying an additional 500 shares in the last quarter. Institutional investors own 83.65% of the company's stock.

Royal Gold Stock Up 2.2%

RGLD traded up $3.64 during trading hours on Friday, reaching $168.97. 1,015,011 shares of the company's stock traded hands, compared to its average volume of 946,503. The firm has a 50-day moving average price of $168.74 and a 200 day moving average price of $164.31. Royal Gold, Inc. has a 52-week low of $127.82 and a 52-week high of $191.78. The firm has a market capitalization of $11.12 billion, a PE ratio of 24.78, a PEG ratio of 1.17 and a beta of 0.40.

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 analysts' consensus estimates of $1.70 by $0.11. Royal Gold had a return on equity of 13.30% and a net margin of 56.24%. 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 previous year, the business earned $1.25 EPS. Royal Gold's revenue was up 20.4% compared to the same quarter last year. Equities analysts predict that Royal Gold, Inc. will post 6.2 EPS for the current fiscal year.

Royal Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 17th. Investors of record on Thursday, July 3rd were issued a dividend of $0.45 per share. The ex-dividend date was Thursday, July 3rd. This represents a $1.80 dividend on an annualized basis and a yield of 1.1%. Royal Gold's payout ratio is presently 26.39%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Scotiabank upgraded Royal Gold from a "sector perform" rating to a "sector outperform" rating and raised their price target for the company from $166.00 to $189.00 in a report on Monday, April 14th. Canaccord Genuity Group raised their price target on Royal Gold from $202.00 to $203.00 in a research report on Wednesday, June 11th. BMO Capital Markets set a $197.00 price target 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 stock a "neutral" rating in a research report on Thursday, May 8th. Finally, Wall Street Zen downgraded Royal Gold from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 2nd. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $198.63.

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.