Public Employees Retirement System of Ohio Invests $9.39 Million in Royal Gold, Inc. $RGLD

Key Points

• Public Employees Retirement System of Ohio bought 47,043 Royal Gold shares worth approximately $9.39 million, while institutional investors and hedge funds collectively own 83.65% of the company.
• Royal Gold beat quarterly earnings and revenue expectations, reporting $2.56 in EPS and $468.98 million in revenue; revenue increased 114.9% year over year.
• Analysts have an average “Hold” rating and a consensus price target of $285.10. Royal Gold also declared a quarterly dividend of $0.475 per share, representing a 0.7% annualized yield.

Public Employees Retirement System of Ohio bought a new position in Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 47,043 shares of the basic materials company's stock, valued at approximately $9,390,000. Public Employees Retirement System of Ohio owned approximately 0.06% of Royal Gold at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. BlackRock Inc. acquired a new stake in Royal Gold during the 2nd quarter valued at $2,177,865,000. Capital World Investors boosted its stake in Royal Gold by 7.5% in the fourth quarter. Capital World Investors now owns 9,733,807 shares of the basic materials company's stock worth $2,163,732,000 after purchasing an additional 678,732 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of Royal Gold by 18.1% during the fourth quarter. Van ECK Associates Corp now owns 5,900,432 shares of the basic materials company's stock worth $1,311,607,000 after purchasing an additional 905,488 shares during the last quarter. State Street Corp increased its stake in shares of Royal Gold by 11.9% in the fourth quarter. State Street Corp now owns 3,718,646 shares of the basic materials company's stock valued at $826,618,000 after buying an additional 396,778 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Royal Gold by 4.2% in the fourth quarter. Geode Capital Management LLC now owns 1,952,363 shares of the basic materials company's stock valued at $434,063,000 after buying an additional 78,344 shares in the last quarter. 83.65% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Royal Gold

In other news, SVP Randy Shefman sold 500 shares of Royal Gold stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $262.80, for a total transaction of $131,400.00. Following the completion of the sale, the senior vice president owned 8,082 shares in the company, valued at $2,123,949.60. The trade was a 5.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.35% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Weiss Ratings cut Royal Gold from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday, August 4th. Jefferies Financial Group lowered their price objective on shares of Royal Gold from $318.00 to $311.00 and set a "buy" rating for the company in a research report on Monday, July 6th. Royal Bank Of Canada dropped their target price on shares of Royal Gold from $310.00 to $305.00 and set an "outperform" rating for the company in a research note on Thursday, July 9th. UBS Group upped their target price on shares of Royal Gold from $280.00 to $285.00 and gave the stock a "buy" rating in a research report on Friday, August 7th. Finally, Scotiabank reissued a "sector perform" rating and set a $310.00 price target on shares of Royal Gold in a research note on Tuesday, July 14th. Seven research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $285.10.

Royal Gold Trading Down 0.5%

Shares of RGLD opened at $261.47 on Tuesday. The company has a quick ratio of 2.68, a current ratio of 2.92 and a debt-to-equity ratio of 0.05. Royal Gold, Inc. has a 12-month low of $168.88 and a 12-month high of $306.25. The firm has a market capitalization of $22.15 billion, a PE ratio of 28.54, a price-to-earnings-growth ratio of 1.98 and a beta of 0.44. The stock's fifty day simple moving average is $215.99 and its 200-day simple moving average is $236.28.

Royal Gold (NASDAQ:RGLD - Get Free Report) TSE: RGL last posted its quarterly earnings results on Wednesday, August 5th. The basic materials company reported $2.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.55 by $0.01. The business had revenue of $468.98 million for the quarter, compared to analysts' expectations of $458.85 million. Royal Gold had a return on equity of 12.06% and a net margin of 47.74%.The firm's quarterly revenue was up 114.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.81 earnings per share. As a group, research analysts predict that Royal Gold, Inc. will post 10.26 earnings per share for the current year.

Royal Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Friday, October 2nd will be paid a $0.475 dividend. This represents a $1.90 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Friday, October 2nd. Royal Gold's dividend payout ratio (DPR) is 20.74%.

Royal Gold Profile

Royal Gold, Inc, headquartered in Denver, Colorado, is a leading precious metals streaming and royalty company. Through its business model, Royal Gold provides upfront financing to mining operators in exchange for the right to purchase a percentage of future metal production at predetermined prices. This structure allows the company to participate in production upside while minimizing exposure to the operating and capital-intensive aspects of mine ownership.

The company's portfolio encompasses interests in over 200 streams and royalties on projects across North America, South America, Europe, Africa and Australia.

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