Swedbank AB Has $55.87 Million Stake in 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 increased its holdings in Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL by 51.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 314,148 shares of the basic materials company's stock after buying 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 filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. WPG Advisers LLC acquired a new stake in shares of Royal Gold in the first quarter valued at approximately $27,000. Alpine Bank Wealth Management acquired a new stake in shares of Royal Gold in the first quarter valued at approximately $32,000. Banque Cantonale Vaudoise acquired a new stake in shares of Royal Gold in the first quarter valued at approximately $34,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Royal Gold in the first quarter valued at approximately $40,000. Finally, Bayforest Capital Ltd raised its position in Royal Gold by 256.5% during the first quarter. Bayforest Capital Ltd now owns 246 shares of the basic materials company's stock valued at $40,000 after purchasing an additional 177 shares in the last quarter. 83.65% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Royal Gold Price Performance

NASDAQ RGLD traded down $0.15 on Monday, reaching $191.52. The company had a trading volume of 1,351,862 shares, compared to its average volume of 904,237. The firm has a market cap of $12.61 billion, a price-to-earnings ratio of 28.08, a P/E/G ratio of 1.52 and a beta of 0.43. Royal Gold, Inc. has a fifty-two week low of $130.67 and a fifty-two week high of $196.00. The business has a 50 day moving average of $171.47 and a two-hundred day moving average of $172.07.

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

Royal Gold Dividend Announcement

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