Swedbank AB Acquires 106,993 Shares of Royal Gold, Inc. $RGLD

Key Points

• Swedbank AB increased its holdings in Royal Gold, Inc. by 51.6% in Q2, now owning approximately $55.87 million worth of shares.
• Royal Gold reported earnings of $1.81 per share for the last quarter, beating analysts' expectations, with revenues up 20.4% year-over-year.
• The company has announced a quarterly dividend of $0.45 per share, representing a yield of 1.0%, set to be paid on October 17th.

Swedbank AB lifted its stake in shares of Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL by 51.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 314,148 shares of the basic materials company's stock after purchasing an additional 106,993 shares during the period. Swedbank AB owned 0.48% of Royal Gold worth $55,868,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AQR Capital Management LLC boosted its holdings in Royal Gold by 68.8% in 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 purchasing an additional 685,857 shares during the last quarter. GAMMA Investing LLC raised its position in Royal Gold by 17,722.4% in the 1st quarter. GAMMA Investing LLC now owns 457,501 shares of the basic materials company's stock valued at $74,806,000 after purchasing an additional 454,934 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Royal Gold in the 1st quarter valued at $40,882,000. Victory Capital Management Inc. raised its stake in Royal Gold by 117.0% in the first quarter. Victory Capital Management Inc. now owns 415,179 shares of the basic materials company's stock valued at $67,886,000 after buying an additional 223,870 shares in the last quarter. Finally, Copeland Capital Management LLC raised its holdings in Royal Gold by 106,046.2% during the first quarter. Copeland Capital Management LLC now owns 137,990 shares of the basic materials company's stock worth $22,563,000 after purchasing an additional 137,860 shares in the last quarter. Institutional investors and hedge funds own 83.65% of the company's stock.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Zacks Research lowered shares of Royal Gold from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 19th. TD Securities restated a "buy" rating and set a $237.00 target price (up from $229.00) on shares of Royal Gold in a research report on Friday, August 8th. Canaccord Genuity Group increased their target price on Royal Gold from $202.00 to $203.00 in a 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. Finally, BMO Capital Markets set a $197.00 target price on shares of Royal Gold and gave the stock a "market perform" rating in a research report on Thursday, May 22nd. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, Royal Gold presently has an average rating of "Moderate Buy" and a consensus target price of $198.63.

Royal Gold Trading Up 1.9%

RGLD traded up $3.65 during trading hours on Friday, hitting $191.67. The company's stock had a trading volume of 4,324,266 shares, compared to its average volume of 719,789. The firm has a market capitalization of $12.62 billion, a PE ratio of 28.10, a PEG ratio of 1.49 and a beta of 0.43. The company has a 50-day simple moving average of $170.83 and a 200 day simple moving average of $171.51. Royal Gold, Inc. has a fifty-two week low of $130.67 and a fifty-two week high of $196.00.

Royal Gold (NASDAQ:RGLD - Get Free Report) TSE: RGL last issued its quarterly 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. Royal Gold had a return on equity of 13.30% and a net margin of 56.24%.The business had revenue of $209.64 million for the quarter, compared to the consensus estimate of $186.63 million. During the same quarter in the previous year, the company posted $1.25 earnings per share. Royal Gold's revenue for the quarter was up 20.4% compared to the same quarter last year. Research analysts expect that Royal Gold, Inc. will post 6.2 earnings per share for the current fiscal year.

Royal Gold Dividend Announcement

The firm 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 $0.45 dividend. The ex-dividend date is Friday, October 3rd. This represents a $1.80 dividend on an annualized basis and a yield of 0.9%. Royal Gold's dividend payout ratio is currently 26.39%.

About Royal Gold

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.