Baird Financial Group Inc. Acquires 11,693 Shares of Royal Gold, Inc. $RGLD

Key Points

• Baird Financial Group Inc. increased its stake in Royal Gold, Inc. by 13.1%, owning 101,015 shares worth approximately $16.5 million as of the latest reporting period.
• Royal Gold reported a quarterly earnings per share of $1.81, exceeding analyst expectations and showing a 20.4% year-over-year revenue growth.
• The company announced a quarterly dividend of $0.45, representing an annualized yield of 1.0% with an ex-dividend date of October 3rd.

Baird Financial Group Inc. grew its holdings in shares of Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL by 13.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 101,015 shares of the basic materials company's stock after purchasing an additional 11,693 shares during the period. Baird Financial Group Inc. owned about 0.15% of Royal Gold worth $16,517,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in RGLD. WPG Advisers LLC acquired a new position in shares of Royal Gold during the 1st quarter worth approximately $27,000. Alpine Bank Wealth Management acquired a new stake in shares of Royal Gold during the 1st quarter worth approximately $32,000. Banque Cantonale Vaudoise acquired a new stake in shares of Royal Gold during the 1st quarter worth approximately $34,000. Bayforest Capital Ltd boosted its position in shares of Royal Gold by 256.5% during the 1st quarter. Bayforest Capital Ltd now owns 246 shares of the basic materials company's stock worth $40,000 after acquiring an additional 177 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of Royal Gold during the 1st quarter worth approximately $40,000. Institutional investors and hedge funds own 83.65% of the company's stock.

Analysts Set New Price Targets

RGLD has been the topic of several analyst reports. 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. Canaccord Genuity Group increased their price target on shares of Royal Gold from $202.00 to $203.00 in a research report on Wednesday, June 11th. Wall Street Zen upgraded shares of Royal Gold from a "hold" rating to a "buy" rating in a research report on Saturday, August 30th. Zacks Research lowered shares of Royal Gold from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 19th. Finally, TD Securities reiterated a "buy" rating and set a $237.00 price target (up previously from $229.00) on shares of Royal Gold in a research report on Friday, August 8th. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $198.63.

Royal Gold Trading Up 2.4%

Royal Gold stock traded up $4.40 during mid-day trading on Friday, reaching $184.86. The company had a trading volume of 947,909 shares, compared to its average volume of 697,302. Royal Gold, Inc. has a fifty-two week low of $130.67 and a fifty-two week high of $191.78. The company has a market cap of $12.17 billion, a P/E ratio of 27.11, a P/E/G ratio of 1.32 and a beta of 0.43. The business has a fifty day simple moving average of $167.09 and a 200 day simple moving average of $168.75.

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 for the quarter, beating analysts' consensus estimates of $1.70 by $0.11. The firm 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 quarterly revenue was up 20.4% on a year-over-year basis. During the same quarter last year, the business posted $1.25 earnings per share. Research analysts forecast that Royal Gold, Inc. will post 6.2 EPS for the current year.

Royal Gold Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Friday, October 3rd will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $1.80 annualized dividend and a dividend yield of 1.0%. Royal Gold's dividend payout ratio (DPR) is presently 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.