Zurich Insurance Group Ltd FI Acquires New Holdings in Royal Gold, Inc. (NASDAQ:RGLD)

Zurich Insurance Group Ltd FI acquired a new stake in shares of Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 9,000 shares of the basic materials company's stock, valued at approximately $1,187,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Royal Gold during the fourth quarter worth $741,000. Arizona State Retirement System raised its position in shares of Royal Gold by 0.8% in the fourth quarter. Arizona State Retirement System now owns 19,076 shares of the basic materials company's stock worth $2,515,000 after acquiring an additional 149 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Royal Gold by 1.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 484,207 shares of the basic materials company's stock worth $63,843,000 after acquiring an additional 5,067 shares in the last quarter. Commonwealth Equity Services LLC boosted its stake in shares of Royal Gold by 1.6% during the 4th quarter. Commonwealth Equity Services LLC now owns 13,005 shares of the basic materials company's stock worth $1,715,000 after acquiring an additional 199 shares in the last quarter. Finally, Merit Financial Group LLC acquired a new stake in shares of Royal Gold during the 4th quarter valued at about $455,000. Institutional investors and hedge funds own 83.65% of the company's stock.

Royal Gold Stock Performance

Shares of NASDAQ:RGLD traded up $3.86 during trading on Monday, reaching $180.59. The stock had a trading volume of 389,178 shares, compared to its average volume of 418,622. Royal Gold, Inc. has a 1-year low of $119.72 and a 1-year high of $191.78. The stock has a market cap of $11.89 billion, a PE ratio of 35.83, a PEG ratio of 3.42 and a beta of 0.48. The business has a fifty day moving average price of $172.11 and a 200-day moving average price of $153.56.

Royal Gold (NASDAQ:RGLD - Get Free Report) TSE: RGL last announced its earnings results on Wednesday, May 7th. The basic materials company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.14. The company had revenue of $193.44 million for the quarter, compared to analysts' expectations of $176.17 million. Royal Gold had a net margin of 46.15% and a return on equity of 11.46%. The firm's quarterly revenue was up 29.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.91 EPS. Sell-side analysts expect that Royal Gold, Inc. will post 6.2 earnings per share for the current year.

Royal Gold Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 17th. Stockholders of record on Thursday, July 3rd will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.00%. The ex-dividend date of this dividend is Thursday, July 3rd. Royal Gold's dividend payout ratio is currently 29.80%.

Analyst Ratings Changes

RGLD has been the subject of a number of analyst reports. BMO Capital Markets set a $197.00 price target on Royal Gold and gave the stock a "market perform" rating in a report on Thursday. Scotiabank upgraded Royal Gold from a "sector perform" rating to a "sector outperform" rating and boosted their price objective for the company from $166.00 to $189.00 in a research report on Monday, April 14th. Royal Bank of Canada decreased their target price on Royal Gold from $175.00 to $170.00 and set an "outperform" rating on the stock in a research report on Friday, April 4th. Raymond James lifted their price target on shares of Royal Gold from $181.00 to $200.00 and gave the company an "outperform" rating in a research note on Friday, April 4th. Finally, CIBC upped their price objective on shares of Royal Gold from $202.00 to $215.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $183.13.

Insider Activity

In other news, SVP Randy Shefman sold 1,300 shares of the business's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $154.98, for a total transaction of $201,474.00. Following the transaction, the senior vice president now owns 9,360 shares of the company's stock, valued at approximately $1,450,612.80. The trade was a 12.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.49% of the company's stock.

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.