Principal Financial Group Inc. Increases Position in Royal Gold, Inc. $RGLD

Principal Financial Group Inc. raised its holdings in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 3.8% in the first quarter, Holdings Channel reports. The fund owned 180,921 shares of the basic materials company’s stock after buying an additional 6,668 shares during the period. Principal Financial Group Inc.’s holdings in Royal Gold were worth $46,043,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Chicago Partners Investment Group LLC increased its holdings in shares of Royal Gold by 55.3% during the 1st quarter. Chicago Partners Investment Group LLC now owns 1,297 shares of the basic materials company’s stock worth $326,000 after buying an additional 462 shares during the last quarter. J. Safra Sarasin Holding AG lifted its holdings in Royal Gold by 9.3% in the first quarter. J. Safra Sarasin Holding AG now owns 5,627 shares of the basic materials company’s stock valued at $1,432,000 after acquiring an additional 479 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in Royal Gold by 37.3% in the first quarter. International Assets Investment Management LLC now owns 924 shares of the basic materials company’s stock valued at $244,000 after acquiring an additional 251 shares during the last quarter. Fifth Third Bancorp increased its stake in Royal Gold by 2,497.7% during the first quarter. Fifth Third Bancorp now owns 22,938 shares of the basic materials company’s stock worth $5,837,000 after acquiring an additional 22,055 shares during the last quarter. Finally, Sequoia Financial Advisors LLC increased its stake in Royal Gold by 2.3% during the first quarter. Sequoia Financial Advisors LLC now owns 3,982 shares of the basic materials company’s stock worth $1,013,000 after acquiring an additional 90 shares during the last quarter. 83.65% of the stock is currently owned by institutional investors and hedge funds.

Royal Gold Trading Down 1.1%

RGLD opened at $189.17 on Friday. Royal Gold, Inc. has a 52 week low of $150.75 and a 52 week high of $306.25. The business has a fifty day simple moving average of $212.07 and a 200-day simple moving average of $243.68. The firm has a market cap of $16.05 billion, a P/E ratio of 22.55, a P/E/G ratio of 1.34 and a beta of 0.44. The company has a quick ratio of 3.26, a current ratio of 3.52 and a debt-to-equity ratio of 0.08.

Royal Gold Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 16th. Investors of record on Thursday, July 2nd were paid a dividend of $0.475 per share. The ex-dividend date of this dividend was Thursday, July 2nd. This represents a $1.90 annualized dividend and a yield of 1.0%. Royal Gold’s dividend payout ratio is presently 22.65%.

Insider Buying and Selling

In related news, SVP Randy Shefman sold 1,000 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $243.74, for a total transaction of $243,740.00. Following the completion of the transaction, the senior vice president directly owned 9,082 shares in the company, valued at $2,213,646.68. This trade represents a 9.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.35% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on RGLD shares. Zacks Research raised Royal Gold from a “strong sell” rating to a “hold” rating in a research note on Thursday, July 2nd. National Bank Financial reduced their price objective on shares of Royal Gold from $350.00 to $340.00 and set an “outperform” rating on the stock in a report on Friday, April 17th. Jefferies Financial Group decreased their target price on shares of Royal Gold from $318.00 to $311.00 and set a “buy” rating on the stock in a research report on Monday, July 6th. Royal Bank Of Canada lowered their target price on shares of Royal Gold from $310.00 to $305.00 and set an “outperform” rating for the company in a research note on Thursday, July 9th. Finally, UBS Group dropped their price target on shares of Royal Gold from $325.00 to $280.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. Nine analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $280.27.

Royal Gold Company Profile

Royal Gold, Inc, headquartered in Denver, Colorado, is a leading precious metals streaming and royalty company. Through its business model, Royal Gold provides upfront financing to mining operators in exchange for the right to purchase a percentage of future metal production at predetermined prices. This structure allows the company to participate in production upside while minimizing exposure to the operating and capital-intensive aspects of mine ownership.

The company’s portfolio encompasses interests in over 200 streams and royalties on projects across North America, South America, Europe, Africa and Australia.