Royal Gold, Inc. $RGLD Shares Acquired by State of New Jersey Common Pension Fund D

Key Points

• State of New Jersey Common Pension Fund D increased its stake in Royal Gold (NASDAQ:RGLD) by 34.8% to 32,438 shares worth $7.21M, while other institutions like Capital World, Vanguard and VanEck also materially boosted positions—institutional investors now own 83.65% of the stock.
• Royal Gold reported Q results that missed expectations (EPS $1.92 vs. $2.68 est., revenue $310.8M vs. $425.5M est.) despite revenue rising 85.2% YoY; the company has a $19.56B market cap, P/E of 33.86, pays a quarterly dividend of $0.475 (annual $1.90, yield 0.8%), and carries a consensus analyst rating of Moderate Buy (target $273.64).

State of New Jersey Common Pension Fund D grew its stake in Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL by 34.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,438 shares of the basic materials company's stock after buying an additional 8,379 shares during the period. State of New Jersey Common Pension Fund D's holdings in Royal Gold were worth $7,211,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of RGLD. Capital World Investors boosted its stake in Royal Gold by 1.0% during the 3rd quarter. Capital World Investors now owns 9,055,075 shares of the basic materials company's stock worth $1,816,267,000 after purchasing an additional 93,282 shares during the period. Vanguard Group Inc. boosted its stake in Royal Gold by 25.0% during the 4th quarter. Vanguard Group Inc. now owns 8,398,944 shares of the basic materials company's stock worth $1,867,001,000 after purchasing an additional 1,681,577 shares during the period. Van ECK Associates Corp boosted its stake in Royal Gold by 104.1% during the 3rd quarter. Van ECK Associates Corp now owns 4,994,944 shares of the basic materials company's stock worth $1,001,885,000 after purchasing an additional 2,547,076 shares during the period. State Street Corp boosted its stake in Royal Gold by 5.4% during the 3rd quarter. State Street Corp now owns 3,321,868 shares of the basic materials company's stock worth $666,300,000 after purchasing an additional 170,430 shares during the period. Finally, Northern Trust Corp boosted its stake in Royal Gold by 0.7% during the 3rd quarter. Northern Trust Corp now owns 1,030,501 shares of the basic materials company's stock worth $206,698,000 after purchasing an additional 6,710 shares during the period. Institutional investors and hedge funds own 83.65% of the company's stock.

Royal Gold Stock Performance

Shares of RGLD opened at $230.59 on Friday. The company has a 50-day simple moving average of $260.65 and a 200-day simple moving average of $237.57. The company has a quick ratio of 2.91, a current ratio of 3.12 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $19.56 billion, a PE ratio of 33.86, a P/E/G ratio of 1.35 and a beta of 0.44. Royal Gold, Inc. has a 52-week low of $150.75 and a 52-week high of $306.25.

Royal Gold (NASDAQ:RGLD - Get Free Report) TSE: RGL last announced its quarterly earnings results on Wednesday, February 18th. The basic materials company reported $1.92 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.68 by ($0.76). The company had revenue of $310.83 million during the quarter, compared to analysts' expectations of $425.47 million. Royal Gold had a net margin of 45.26% and a return on equity of 11.89%. The business's revenue for the quarter was up 85.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.63 EPS. Equities research analysts predict that Royal Gold, Inc. will post 12.5 earnings per share for the current fiscal year.

Royal Gold Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 16th. Stockholders of record on Thursday, April 2nd were issued a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Thursday, April 2nd. Royal Gold's dividend payout ratio (DPR) is currently 27.90%.

Analyst Ratings Changes

A number of equities analysts have commented on RGLD shares. Zacks Research downgraded shares of Royal Gold from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 17th. Canadian Imperial Bank of Commerce restated a "neutral" rating and set a $330.00 price objective on shares of Royal Gold in a research report on Wednesday, February 4th. National Bank Financial cut their price objective on shares of Royal Gold from $350.00 to $340.00 and set an "outperform" rating for the company in a research report on Friday, April 17th. Scotiabank downgraded shares of Royal Gold from a "sector outperform" rating to a "sector perform" rating and set a $335.00 price objective for the company. in a research report on Monday, January 26th. Finally, UBS Group set a $325.00 price objective on shares of Royal Gold and gave the stock a "buy" rating in a research report on Wednesday, April 15th. Eight analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $273.64.

Insider Activity

In other news, Director Mark Isto sold 2,000 shares of the stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $274.83, for a total value of $549,660.00. Following the completion of the transaction, the director owned 20,043 shares in the company, valued at $5,508,417.69. This trade represents a 9.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Daniel Breeze sold 1,400 shares of the stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $300.87, for a total transaction of $421,218.00. Following the completion of the transaction, the senior vice president owned 20,140 shares of the company's stock, valued at $6,059,521.80. This represents a 6.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 7,573 shares of company stock worth $2,127,091 in the last 90 days. 0.35% of the stock is currently owned by corporate insiders.

Royal Gold Company 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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