Price T Rowe Associates Inc. MD Has $66.26 Million Stake in Royal Gold, Inc. $RGLD

Key Points

• Price T Rowe Associates Inc. increased its stake in Royal Gold, owning 405,224 shares valued at approximately $66.26 million after a 3.9% boost in the first quarter.
• Royal Gold reported $1.81 earnings per share (EPS) for its most recent quarter, exceeding expectations and reflecting a 20.4% year-over-year revenue increase.
• The company announced a quarterly dividend of $0.45 per share, with a payout ratio of 26.39% and an annualized dividend yield of 1.0%.

Price T Rowe Associates Inc. MD boosted its holdings in Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL by 3.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 405,224 shares of the basic materials company's stock after purchasing an additional 15,167 shares during the quarter. Price T Rowe Associates Inc. MD owned 0.62% of Royal Gold worth $66,259,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of RGLD. Alpine Bank Wealth Management acquired a new position in shares of Royal Gold in the 1st quarter valued at approximately $32,000. Banque Cantonale Vaudoise acquired a new position in shares of Royal Gold in the 1st quarter valued at approximately $34,000. Bayforest Capital Ltd raised its position in shares of Royal Gold by 256.5% in 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. Caitong International Asset Management Co. Ltd acquired a new position in shares of Royal Gold in the 1st quarter valued at approximately $40,000. Finally, Brooklyn Investment Group raised its position in shares of Royal Gold by 961.5% in the 1st quarter. Brooklyn Investment Group now owns 276 shares of the basic materials company's stock valued at $45,000 after buying an additional 250 shares in the last quarter. Institutional investors and hedge funds own 83.65% of the company's stock.

Royal Gold Trading Up 1.9%

Shares of Royal Gold stock opened at $177.89 on Wednesday. The firm has a market capitalization of $11.71 billion, a PE ratio of 26.08, a price-to-earnings-growth ratio of 1.28 and a beta of 0.40. The firm's 50 day moving average is $166.89 and its 200 day moving average is $167.10. Royal Gold, Inc. has a 1 year low of $130.67 and a 1 year high of $191.78.

Royal Gold (NASDAQ:RGLD - Get Free Report) TSE: RGL last announced its quarterly earnings results 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. 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 for the quarter, compared to analyst estimates of $186.63 million. During the same period in the previous year, the firm posted $1.25 EPS. The firm's revenue was up 20.4% on a year-over-year basis. As a group, research analysts anticipate that Royal Gold, Inc. will post 6.2 earnings per share for the current year.

Royal Gold Announces Dividend

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

Wall Street Analysts Forecast Growth

RGLD has been the subject of several analyst reports. Zacks Research cut shares of Royal Gold from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 19th. CIBC boosted their target price on shares of Royal Gold from $202.00 to $215.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. TD Securities reaffirmed a "buy" rating and set a $237.00 price target (up from $229.00) on shares of Royal Gold in a report on Friday, August 8th. Wall Street Zen lowered shares of Royal Gold from a "buy" rating to a "hold" rating in a report on Saturday, August 16th. Finally, Canaccord Genuity Group lifted their price target on shares of Royal Gold from $202.00 to $203.00 in a report on Wednesday, June 11th. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Royal Gold presently has an average rating of "Moderate Buy" and an average target price 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.

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