Oregon Public Employees Retirement Fund grew its stake in Royal Gold, Inc (NASDAQ:RGLD) (TSE:RGL) by 1.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,520 shares of the basic materials company’s stock after acquiring an additional 350 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Royal Gold were worth $2,718,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of RGLD. Norges Bank acquired a new position in Royal Gold in the fourth quarter valued at $82,113,000. Clearbridge Investments LLC increased its stake in Royal Gold by 12.7% in the first quarter. Clearbridge Investments LLC now owns 764,539 shares of the basic materials company’s stock valued at $69,520,000 after purchasing an additional 86,116 shares during the last quarter. Geode Capital Management LLC increased its stake in Royal Gold by 6.3% in the fourth quarter. Geode Capital Management LLC now owns 681,646 shares of the basic materials company’s stock valued at $58,382,000 after purchasing an additional 40,512 shares during the last quarter. Deutsche Bank AG increased its stake in Royal Gold by 182.5% during the fourth quarter. Deutsche Bank AG now owns 442,460 shares of the basic materials company’s stock worth $37,895,000 after acquiring an additional 285,839 shares during the last quarter. Finally, Martingale Asset Management L P increased its stake in Royal Gold by 91.6% during the first quarter. Martingale Asset Management L P now owns 367,439 shares of the basic materials company’s stock worth $33,413,000 after acquiring an additional 175,624 shares during the last quarter. Institutional investors and hedge funds own 79.17% of the company’s stock.
Several equities research analysts have commented on the company. Desjardins lowered Canadian Pacific Railway from a “buy” rating to a “hold” rating in a research note on Friday, April 12th. Zacks Investment Research upgraded Global Ship Lease from a “hold” rating to a “strong-buy” rating and set a $7.75 price target for the company in a research note on Monday, June 3rd. TheStreet lowered Zimmer Biomet from a “b-” rating to a “c” rating in a research note on Friday, June 7th. B. Riley upped their price target on Royal Gold from $100.00 to $125.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Barclays lowered Barrick Gold from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $15.00 to $18.00 in a research note on Tuesday, July 16th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $102.35.
In related news, Director Ronald J. Vance sold 1,930 shares of the stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $94.77, for a total value of $182,906.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Tony A. Jensen sold 38,821 shares of the stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $92.42, for a total value of $3,587,836.82. The disclosure for this sale can be found here. Insiders sold 87,423 shares of company stock valued at $8,138,746 in the last three months. 0.95% of the stock is currently owned by company insiders.
Shares of NASDAQ RGLD traded down $0.54 on Tuesday, hitting $118.11. The company had a trading volume of 26,801 shares, compared to its average volume of 463,592. Royal Gold, Inc has a 12-month low of $70.16 and a 12-month high of $118.91. The company has a 50 day moving average price of $102.21. The company has a debt-to-equity ratio of 0.17, a current ratio of 5.39 and a quick ratio of 5.13. The firm has a market cap of $7.77 billion, a price-to-earnings ratio of 67.17, a P/E/G ratio of 5.43 and a beta of 0.21.
Royal Gold (NASDAQ:RGLD) (TSE:RGL) last issued its quarterly earnings results on Wednesday, May 1st. The basic materials company reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.01). The business had revenue of $109.80 million during the quarter, compared to analysts’ expectations of $115.32 million. Royal Gold had a net margin of 22.19% and a return on equity of 4.36%. The company’s revenue for the quarter was down 5.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.48 EPS. Equities research analysts predict that Royal Gold, Inc will post 1.51 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, July 19th. Investors of record on Friday, July 5th were issued a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date of this dividend was Wednesday, July 3rd. Royal Gold’s dividend payout ratio is currently 60.23%.
About Royal Gold
Royal Gold, Inc, together with its subsidiaries, acquires and manages precious metal streams, royalties, and related interests. It focuses on acquiring stream and royalty interests or to finance projects that are in production or in development stage in exchange for stream or royalty interests, which primarily consists of gold, silver, copper, nickel, zinc, lead, cobalt, and molybdenum.
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