Parcion Private Wealth LLC Makes New Investment in Royal Gold, Inc. (NASDAQ:RGLD)

Parcion Private Wealth LLC acquired a new position in Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,036 shares of the basic materials company's stock, valued at approximately $333,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of RGLD. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Royal Gold in the 4th quarter worth $741,000. Oxbow Advisors LLC increased its stake in Royal Gold by 1.8% in the 1st quarter. Oxbow Advisors LLC now owns 116,887 shares of the basic materials company's stock worth $19,112,000 after buying an additional 2,039 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased 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 buying an additional 2,015 shares in the last quarter. QRG Capital Management Inc. increased its stake in 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 buying an additional 1,025 shares in the last quarter. Finally, City Center Advisors LLC purchased a new stake in Royal Gold in the 1st quarter worth $324,000. 83.65% of the stock is currently owned by hedge funds and other institutional investors.

Royal Gold Trading Down 1.6%

Shares of Royal Gold stock traded down $2.56 on Thursday, hitting $155.11. 1,104,843 shares of the company traded hands, compared to its average volume of 475,338. The stock's 50 day moving average price is $174.78 and its 200-day moving average price is $161.94. Royal Gold, Inc. has a 52 week low of $125.69 and a 52 week high of $191.78. The company has a market cap of $10.21 billion, a PE ratio of 25.68, a PEG ratio of 1.11 and a beta of 0.44.

Royal Gold (NASDAQ:RGLD - Get Free Report) TSE: RGL last issued its quarterly earnings data on Wednesday, May 7th. The basic materials company reported $1.51 earnings per share (EPS) 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% compared to the same quarter last year. During the same period last year, the company posted $0.91 earnings per share. As a group, research analysts anticipate that Royal Gold, Inc. will post 6.2 EPS for the current fiscal year.

Royal Gold Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 17th. Shareholders of record on Thursday, July 3rd will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.16%. The ex-dividend date is Thursday, July 3rd. Royal Gold's dividend payout ratio is currently 29.80%.

Analysts Set New Price Targets

A number of brokerages have issued reports on RGLD. Scotiabank upgraded Royal Gold from a "sector perform" rating to a "sector outperform" rating and increased their price target for the stock from $166.00 to $189.00 in a research note on Monday, April 14th. Raymond James Financial increased their price objective on shares of Royal Gold from $181.00 to $200.00 and gave the company an "outperform" rating in a report on Friday, April 4th. Canaccord Genuity Group increased their price objective on shares of Royal Gold from $202.00 to $203.00 in a report on Wednesday, June 11th. BMO Capital Markets set a $197.00 price target on shares of Royal Gold and gave the company a "market perform" rating in a report on Thursday, May 22nd. Finally, Royal Bank Of Canada lowered their price target on shares of Royal Gold from $175.00 to $170.00 and set an "outperform" rating for the company in a report on Friday, April 4th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Royal Gold presently has an average rating of "Moderate Buy" and a consensus target price of $192.13.

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.