Principal Financial Group Inc. boosted its holdings in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 4.2% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 294,652 shares of the basic materials company’s stock after purchasing an additional 11,795 shares during the quarter. Principal Financial Group Inc. owned 0.45% of Royal Gold worth $23,033,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of the business. Vanguard Group Inc. raised its stake in Royal Gold by 6.5% in the 1st quarter. Vanguard Group Inc. now owns 5,778,135 shares of the basic materials company’s stock worth $404,759,000 after purchasing an additional 355,155 shares in the last quarter. Van ECK Associates Corp raised its stake in Royal Gold by 15.8% in the 1st quarter. Van ECK Associates Corp now owns 4,901,086 shares of the basic materials company’s stock worth $343,321,000 after purchasing an additional 667,497 shares in the last quarter. First Eagle Investment Management LLC raised its stake in Royal Gold by 2.2% in the 2nd quarter. First Eagle Investment Management LLC now owns 3,479,449 shares of the basic materials company’s stock worth $271,989,000 after purchasing an additional 73,384 shares in the last quarter. State Street Corp raised its stake in Royal Gold by 4.8% in the 1st quarter. State Street Corp now owns 2,354,371 shares of the basic materials company’s stock worth $164,922,000 after purchasing an additional 108,212 shares in the last quarter. Finally, Gabelli Funds LLC raised its stake in Royal Gold by 4.3% in the 2nd quarter. Gabelli Funds LLC now owns 686,700 shares of the basic materials company’s stock worth $53,679,000 after purchasing an additional 28,000 shares in the last quarter. Institutional investors and hedge funds own 70.43% of the company’s stock.
Shares of Royal Gold, Inc. (NASDAQ RGLD) opened at 91.64 on Tuesday. Royal Gold, Inc. has a one year low of $60.21 and a one year high of $94.39. The company has a market capitalization of $5.99 billion, a price-to-earnings ratio of 59.12 and a beta of 0.63. The company’s 50 day moving average is $88.02 and its 200 day moving average is $77.12.
Royal Gold (NASDAQ:RGLD) (TSE:RGL) last announced its earnings results on Wednesday, August 9th. The basic materials company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by $0.02. The company had revenue of $108.90 million during the quarter, compared to analysts’ expectations of $108.72 million. Royal Gold had a net margin of 23.03% and a return on equity of 4.19%. The company’s revenue for the quarter was up 15.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.32 earnings per share. Equities research analysts predict that Royal Gold, Inc. will post $1.79 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 20th. Investors of record on Friday, October 6th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date of this dividend is Thursday, October 5th. Royal Gold’s dividend payout ratio is currently 61.54%.
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In related news, VP Bruce Christopher Kirchhoff sold 28,805 shares of the firm’s stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $86.28, for a total value of $2,485,295.40. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Stefan Wenger sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $77.05, for a total transaction of $115,575.00. The disclosure for this sale can be found here. Insiders sold 106,845 shares of company stock worth $9,306,508 over the last ninety days. 1.37% of the stock is currently owned by insiders.
Several analysts have weighed in on RGLD shares. BMO Capital Markets reiterated a “buy” rating and issued a $95.00 price objective on shares of Royal Gold in a research note on Thursday, June 29th. Zacks Investment Research raised shares of Royal Gold from a “hold” rating to a “buy” rating and set a $84.00 target price on the stock in a report on Wednesday, June 21st. Royal Bank Of Canada reissued a “buy” rating and issued a $83.00 target price on shares of Royal Gold in a report on Monday, June 5th. BidaskClub raised shares of Royal Gold from a “hold” rating to a “buy” rating in a report on Saturday, July 8th. Finally, Canaccord Genuity reissued a “buy” rating and issued a $105.00 target price (up from $99.00) on shares of Royal Gold in a report on Thursday, August 10th. One analyst has rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $91.95.
About Royal Gold
Royal Gold, Inc, together with its subsidiaries, is engaged in acquiring and managing precious metal streams, royalties and similar interests. The Company operates through two segments: Acquisition and Management of Stream Interests, and Acquisition and Management of Royalty Interests. Its assets are located in Canada, Chile, Dominican Republic, Mexico, the United States, Africa, Australia and Other.
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