Banque Pictet & Cie SA Reduces Holdings in Royal Gold, Inc. $RGLD

Banque Pictet & Cie SA decreased its position in shares of Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 6.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,591 shares of the basic materials company’s stock after selling 240 shares during the quarter. Banque Pictet & Cie SA’s holdings in Royal Gold were worth $639,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Jefferies Financial Group Inc. acquired a new position in Royal Gold in the fourth quarter valued at $570,000. Wealth Enhancement Advisory Services LLC increased its stake in Royal Gold by 39.3% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 18,528 shares of the basic materials company’s stock valued at $2,443,000 after purchasing an additional 5,225 shares during the period. Wellington Management Group LLP increased its stake in Royal Gold by 1.9% in the fourth quarter. Wellington Management Group LLP now owns 59,757 shares of the basic materials company’s stock valued at $7,879,000 after purchasing an additional 1,128 shares during the period. First Hawaiian Bank acquired a new position in Royal Gold in the first quarter valued at $548,000. Finally, GAMMA Investing LLC increased its stake in Royal Gold by 17,722.4% in the first quarter. GAMMA Investing LLC now owns 457,501 shares of the basic materials company’s stock valued at $74,806,000 after purchasing an additional 454,934 shares during the period. Hedge funds and other institutional investors own 83.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on RGLD. TD Securities restated a “buy” rating and issued a $237.00 price objective (up from $229.00) on shares of Royal Gold in a research note on Friday, August 8th. Wall Street Zen upgraded shares of Royal Gold from a “hold” rating to a “buy” rating in a research note on Saturday, August 30th. Canaccord Genuity Group lifted their price objective on shares of Royal Gold from $202.00 to $203.00 in a research note on Wednesday, June 11th. Finally, Zacks Research lowered shares of Royal Gold from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 19th. Five equities 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 has an average rating of “Moderate Buy” and a consensus target price of $198.63.

Royal Gold Trading Up 1.9%

Shares of RGLD opened at $196.71 on Friday. Royal Gold, Inc. has a twelve month low of $130.67 and a twelve month high of $198.13. The stock’s 50 day moving average is $174.38 and its two-hundred day moving average is $172.90. The firm has a market capitalization of $12.95 billion, a PE ratio of 28.84, a P/E/G ratio of 1.53 and a beta of 0.43.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last released its quarterly earnings data 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 firm 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 firm’s revenue was up 20.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.25 earnings per share. On average, sell-side analysts predict that Royal Gold, Inc. will post 6.2 EPS for the current year.

Royal Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Friday, October 3rd will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $1.80 dividend on an annualized basis and a yield of 0.9%. Royal Gold’s payout ratio is currently 26.39%.

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.