KLP Kapitalforvaltning AS Increases Stock Position in Royal Gold, Inc. $RGLD

KLP Kapitalforvaltning AS boosted its stake in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 0.6% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,200 shares of the basic materials company’s stock after purchasing an additional 100 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Royal Gold were worth $3,059,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of RGLD. Farther Finance Advisors LLC lifted its stake in Royal Gold by 29.5% in the 1st quarter. Farther Finance Advisors LLC now owns 812 shares of the basic materials company’s stock worth $133,000 after purchasing an additional 185 shares in the last quarter. GAMMA Investing LLC lifted its stake in Royal Gold by 9.0% in the 1st quarter. GAMMA Investing LLC now owns 2,798 shares of the basic materials company’s stock worth $458,000 after purchasing an additional 231 shares in the last quarter. Fifth Third Bancorp lifted its stake in Royal Gold by 50.7% in the 1st quarter. Fifth Third Bancorp now owns 871 shares of the basic materials company’s stock worth $142,000 after purchasing an additional 293 shares in the last quarter. NorthCrest Asset Manangement LLC purchased a new stake in Royal Gold in the 1st quarter worth $503,000. Finally, Everhart Financial Group Inc. lifted its stake in Royal Gold by 29.3% in the 1st quarter. Everhart Financial Group Inc. now owns 2,588 shares of the basic materials company’s stock worth $423,000 after purchasing an additional 587 shares in the last quarter. Hedge funds and other institutional investors own 83.65% of the company’s stock.

Royal Gold Price Performance

Shares of RGLD stock opened at $194.47 on Friday. The company has a market capitalization of $12.80 billion, a P/E ratio of 28.51, a P/E/G ratio of 1.54 and a beta of 0.41. The company’s 50-day simple moving average is $183.35 and its two-hundred day simple moving average is $176.03. Royal Gold, Inc. has a one year low of $130.67 and a one year high of $206.49.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last issued its earnings results on Wednesday, August 6th. The basic materials company reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.11. The business had revenue of $209.64 million for the quarter, compared to the consensus estimate of $186.63 million. Royal Gold had a net margin of 56.24% and a return on equity of 13.30%. The company’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.25 EPS. On average, research analysts expect that Royal Gold, Inc. will post 6.2 EPS 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. Stockholders of record on Friday, October 3rd will be paid a dividend of $0.45 per share. The ex-dividend date is Friday, October 3rd. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.9%. Royal Gold’s dividend payout ratio (DPR) is currently 26.39%.

Analyst Upgrades and Downgrades

RGLD has been the topic of several recent research reports. Wall Street Zen upgraded shares of Royal Gold from a “hold” rating to a “buy” rating in a research report on Saturday, August 30th. Zacks Research cut shares of Royal Gold from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 19th. Weiss Ratings restated a “buy (b)” rating on shares of Royal Gold in a research report on Wednesday. CIBC upped their target price on shares of Royal Gold from $225.00 to $250.00 and gave the company a “neutral” rating in a research report on Friday. Finally, 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. Six research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $203.00.

Royal Gold 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.