Royal Gold, Inc. (NASDAQ:RGLD) Stock Position Cut by PKO Investment Management Joint Stock Co

PKO Investment Management Joint Stock Co lessened its stake in Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL by 14.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,400 shares of the basic materials company's stock after selling 4,000 shares during the period. PKO Investment Management Joint Stock Co's holdings in Royal Gold were worth $3,990,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in RGLD. Capital World Investors increased its position in shares of Royal Gold by 0.4% in the 4th quarter. Capital World Investors now owns 8,773,925 shares of the basic materials company's stock worth $1,156,842,000 after purchasing an additional 37,648 shares during the last quarter. Vanguard Group Inc. grew its stake in Royal Gold by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 6,651,935 shares of the basic materials company's stock worth $877,058,000 after purchasing an additional 89,298 shares in the last quarter. Northern Trust Corp grew its stake in Royal Gold by 19.6% in the fourth quarter. Northern Trust Corp now owns 1,029,431 shares of the basic materials company's stock worth $135,730,000 after purchasing an additional 168,569 shares in the last quarter. AQR Capital Management LLC increased its holdings in Royal Gold by 18.1% in the fourth quarter. AQR Capital Management LLC now owns 997,054 shares of the basic materials company's stock valued at $131,412,000 after buying an additional 152,599 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Royal Gold by 5.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 877,803 shares of the basic materials company's stock valued at $115,735,000 after buying an additional 49,206 shares during the last quarter. 83.65% of the stock is owned by institutional investors and hedge funds.

Royal Gold Price Performance

Shares of RGLD stock traded up $0.22 during trading hours on Friday, reaching $179.35. The stock had a trading volume of 1,144,389 shares, compared to its average volume of 437,588. The firm has a market capitalization of $11.80 billion, a PE ratio of 29.69, a price-to-earnings-growth ratio of 1.31 and a beta of 0.44. The firm has a 50-day simple moving average of $179.39 and a 200-day simple moving average of $157.95. Royal Gold, Inc. has a twelve month low of $122.17 and a twelve month high of $191.78.

Royal Gold (NASDAQ:RGLD - Get Free Report) TSE: RGL last announced its quarterly earnings results on Wednesday, May 7th. The basic materials company reported $1.51 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 quarter last year, the business earned $0.91 earnings per share. On average, equities analysts anticipate that Royal Gold, Inc. will post 6.2 earnings per share for the current year.

Royal Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 17th. Shareholders of record on Thursday, July 3rd will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.00%. The ex-dividend date is Thursday, July 3rd. Royal Gold's payout ratio is currently 29.80%.

Analysts Set New Price Targets

Several brokerages recently issued reports on RGLD. Canaccord Genuity Group raised their price objective on Royal Gold from $202.00 to $203.00 in a research note on Wednesday, June 11th. CIBC raised their price target on shares of Royal Gold from $202.00 to $215.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Wall Street Zen raised shares of Royal Gold from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 24th. Royal Bank Of Canada dropped their price objective on shares of Royal Gold from $175.00 to $170.00 and set an "outperform" rating on the stock in a research note on Friday, April 4th. Finally, Scotiabank raised shares of Royal Gold from a "sector perform" rating to a "sector outperform" rating and raised their target price for the stock from $166.00 to $189.00 in a report on Monday, April 14th. One analyst has rated the stock with a sell rating, three have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $185.33.

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.