Royal Gold, Inc. $RGLD Shares Bought by Harbor Capital Advisors Inc.

Key Points

• Harbor Capital Advisors Inc. increased its stake in Royal Gold, Inc. by 24.4% during the second quarter, bringing its total ownership to 9,544 shares valued at approximately $1.7 million.
• Royal Gold recently reported earnings of $1.81 per share, exceeding analysts' expectations and revealing a revenue of $209.64 million for the quarter, up 20.4% compared to the previous year.
• The company declared a quarterly dividend of $0.45 per share, to be distributed on October 17th, with a dividend yield of 1.0%.

Harbor Capital Advisors Inc. lifted its stake in Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL by 24.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,544 shares of the basic materials company's stock after purchasing an additional 1,874 shares during the period. Harbor Capital Advisors Inc.'s holdings in Royal Gold were worth $1,697,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Royal Gold by 0.7% in the first quarter. Vanguard Group Inc. now owns 6,698,891 shares of the basic materials company's stock valued at $1,095,336,000 after purchasing an additional 46,956 shares during the period. AQR Capital Management LLC increased its holdings in Royal Gold by 68.8% during the 1st quarter. AQR Capital Management LLC now owns 1,682,911 shares of the basic materials company's stock valued at $274,887,000 after acquiring an additional 685,857 shares in the last quarter. Findlay Park Partners LLP increased its holdings in Royal Gold by 1.4% during the 1st quarter. Findlay Park Partners LLP now owns 1,241,030 shares of the basic materials company's stock valued at $202,921,000 after acquiring an additional 16,600 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Royal Gold by 6.3% during 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 holdings in Royal Gold by 2.3% during 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.

Analyst Ratings Changes

Several equities analysts have weighed in on RGLD shares. Wall Street Zen upgraded shares of Royal Gold from a "hold" rating to a "buy" rating in a report on Saturday, August 30th. Canaccord Genuity Group raised their target price on shares of Royal Gold from $202.00 to $203.00 in a report on Wednesday, June 11th. Zacks Research downgraded shares of Royal Gold from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 19th. Finally, TD Securities restated a "buy" rating and set a $237.00 target price (up from $229.00) on shares of Royal Gold in a report on Friday, August 8th. Five investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $198.63.

Royal Gold Stock Up 1.9%

Shares of NASDAQ RGLD traded up $3.65 during trading on Friday, reaching $191.67. 4,324,266 shares of the stock were exchanged, compared to its average volume of 719,789. The business's 50-day moving average price is $170.83 and its 200 day moving average price is $171.51. Royal Gold, Inc. has a twelve month low of $130.67 and a twelve month high of $196.00. The company has a market capitalization of $12.62 billion, a price-to-earnings ratio of 28.10, a price-to-earnings-growth ratio of 1.49 and a beta of 0.43.

Royal Gold (NASDAQ:RGLD - Get Free Report) TSE: RGL last posted its earnings results on Wednesday, August 6th. The basic materials company reported $1.81 EPS for the quarter, topping analysts' consensus estimates of $1.70 by $0.11. Royal Gold had a net margin of 56.24% and a return on equity of 13.30%. The business had revenue of $209.64 million for the quarter, compared to analysts' expectations of $186.63 million. During the same period in the previous year, the company posted $1.25 earnings per share. The business's revenue for the quarter was up 20.4% compared to the same quarter last year. As a group, sell-side analysts expect that Royal Gold, Inc. will post 6.2 earnings per share for the current fiscal year.

Royal Gold Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Friday, October 3rd will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, October 3rd. Royal Gold's payout ratio is presently 26.39%.

Royal Gold 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.