Envestnet Asset Management Inc. Buys 8,462 Shares of Royal Gold, Inc. (NASDAQ:RGLD)

Key Points

• Envestnet Asset Management Inc. increased its holdings in Royal Gold, Inc. by 128.0% in Q1, bringing its total shares to 15,075 valued at approximately $2.47 million.
• Royal Gold recently announced an EPS of $1.51 for its latest quarter, exceeding estimates, with a significant revenue increase of 29.9% year-over-year.
• Analysts have varied ratings on Royal Gold, with an average rating of "Moderate Buy" and a consensus target price of $192.13.

Envestnet Asset Management Inc. raised its position in shares of Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL by 128.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,075 shares of the basic materials company's stock after buying an additional 8,462 shares during the period. Envestnet Asset Management Inc.'s holdings in Royal Gold were worth $2,465,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Alpine Bank Wealth Management acquired a new stake in shares of Royal Gold during the first quarter worth approximately $32,000. HM Payson & Co. increased its holdings in shares of Royal Gold by 4,545.5% in the first quarter. HM Payson & Co. now owns 511 shares of the basic materials company's stock valued at $84,000 after purchasing an additional 500 shares in the last quarter. Physician Wealth Advisors Inc. acquired a new stake in shares of Royal Gold in the fourth quarter valued at approximately $95,000. Nemes Rush Group LLC acquired a new stake in shares of Royal Gold in the fourth quarter valued at approximately $129,000. Finally, Farther Finance Advisors LLC increased its holdings in shares of Royal Gold by 29.5% in the first quarter. Farther Finance Advisors LLC now owns 812 shares of the basic materials company's stock valued at $133,000 after purchasing an additional 185 shares in the last quarter. Institutional investors and hedge funds own 83.65% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on RGLD shares. Wall Street Zen raised shares of Royal Gold from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 24th. Canaccord Genuity Group lifted their price target on shares of Royal Gold from $202.00 to $203.00 in a research report on Wednesday, June 11th. BMO Capital Markets set a $197.00 price target on shares of Royal Gold and gave the stock a "market perform" rating in a research report on Thursday, May 22nd. Raymond James Financial boosted their price objective on shares of Royal Gold from $181.00 to $200.00 and gave the company an "outperform" rating in a research report on Friday, April 4th. Finally, Royal Bank Of Canada cut 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 report on Friday, April 4th. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $192.13.

Royal Gold Stock Up 0.9%

Shares of NASDAQ RGLD traded up $1.41 during midday trading on Friday, reaching $152.83. 320,184 shares of the company were exchanged, compared to its average volume of 604,319. The stock's 50-day moving average price is $170.95 and its 200-day moving average price is $163.36. The stock has a market cap of $10.06 billion, a P/E ratio of 25.28, a PEG ratio of 1.08 and a beta of 0.44. Royal Gold, Inc. has a one year low of $125.68 and a one year high of $191.78.

Royal Gold (NASDAQ:RGLD - Get Free Report) TSE: RGL last posted its earnings results on Wednesday, May 7th. The basic materials company reported $1.51 earnings per share for the quarter, topping analysts' consensus estimates of $1.37 by $0.14. The firm had revenue of $193.44 million for the quarter, compared to analysts' expectations of $176.17 million. Royal Gold had a net margin of 52.15% and a return on equity of 12.48%. The company's revenue was up 29.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.91 earnings per share. On average, equities research analysts anticipate that Royal Gold, Inc. will post 6.2 EPS for the current year.

Royal Gold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 17th. Investors of record on Thursday, July 3rd were issued a $0.45 dividend. The ex-dividend date was Thursday, July 3rd. This represents a $1.80 annualized dividend and a yield of 1.2%. Royal Gold's payout ratio is presently 29.80%.

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.