Raymond James Financial Inc. Has $17.66 Million Stock Position in Royal Gold, Inc. $RGLD

Key Points

• Raymond James Financial Inc. has increased its stake in Royal Gold, Inc. by 18.7%, now holding approximately $17.65 million worth of the company's stock.
• Royal Gold reported earnings of $1.81 per share for the quarter, exceeding analyst expectations, alongside a 20.4% year-over-year revenue increase to approximately $209.64 million.
• The company has declared a quarterly dividend of $0.45 per share, set to be paid on October 17th, leading to an annualized yield of 1.0%.

Raymond James Financial Inc. increased its position in shares of Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL by 18.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 107,974 shares of the basic materials company's stock after purchasing an additional 16,977 shares during the quarter. Raymond James Financial Inc. owned approximately 0.16% of Royal Gold worth $17,655,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in RGLD. Vanguard Group Inc. increased its position in Royal Gold by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 6,698,891 shares of the basic materials company's stock valued at $1,095,336,000 after acquiring an additional 46,956 shares in the last quarter. Northern Trust Corp increased its position in Royal Gold by 19.6% in the 4th quarter. Northern Trust Corp now owns 1,029,431 shares of the basic materials company's stock valued at $135,730,000 after acquiring an additional 168,569 shares in the last quarter. AQR Capital Management LLC increased its position in Royal Gold by 18.1% in the 4th quarter. AQR Capital Management LLC now owns 997,054 shares of the basic materials company's stock valued at $131,412,000 after acquiring an additional 152,599 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Royal Gold by 6.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 933,488 shares of the basic materials company's stock valued at $152,628,000 after acquiring an additional 55,685 shares in the last quarter. Finally, Invesco Ltd. increased its position in Royal Gold by 2.3% in the 1st quarter. Invesco Ltd. now owns 776,840 shares of the basic materials company's stock valued at $127,021,000 after acquiring an additional 17,649 shares in the last quarter. Institutional investors and hedge funds own 83.65% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. BMO Capital Markets set a $197.00 price objective on shares of Royal Gold and gave the company a "market perform" rating in a research report on Thursday, May 22nd. TD Securities restated a "buy" rating and issued a $237.00 price objective (up previously from $229.00) on shares of Royal Gold in a research report on Friday, August 8th. Wall Street Zen cut shares of Royal Gold from a "buy" rating to a "hold" rating in a research report on Saturday, August 16th. Canaccord Genuity Group raised their price objective on shares of Royal Gold from $202.00 to $203.00 in a research report on Wednesday, June 11th. Finally, CIBC raised their target price on shares of Royal Gold from $202.00 to $215.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $198.63.

Royal Gold Trading Down 0.5%

Shares of NASDAQ RGLD opened at $176.97 on Thursday. The firm has a market capitalization of $11.65 billion, a PE ratio of 25.95, a price-to-earnings-growth ratio of 1.30 and a beta of 0.40. Royal Gold, Inc. has a 1 year low of $130.67 and a 1 year high of $191.78. The firm's 50-day moving average is $166.84 and its 200-day moving average is $167.17.

Royal Gold (NASDAQ:RGLD - Get Free Report) TSE: RGL last issued its 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. The company had revenue of $209.64 million for the quarter, compared to analyst estimates of $186.63 million. Royal Gold had a net margin of 56.24% and a return on equity of 13.30%. The company's revenue for the quarter was up 20.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.25 EPS. As a group, equities research analysts anticipate that Royal Gold, Inc. will post 6.2 earnings per share for the current fiscal year.

Royal Gold Dividend Announcement

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.