Burney Co. Takes Position in Royal Gold, Inc. $RGLD

Burney Co. acquired a new stake in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,384 shares of the basic materials company’s stock, valued at approximately $1,669,000.

Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Royal Gold by 0.7% in the first quarter. Vanguard Group Inc. now owns 6,698,891 shares of the basic materials company’s stock valued at $1,095,336,000 after purchasing an additional 46,956 shares during the period. AQR Capital Management LLC raised its position in shares of Royal Gold by 68.8% in the first quarter. AQR Capital Management LLC now owns 1,682,911 shares of the basic materials company’s stock valued at $274,887,000 after purchasing an additional 685,857 shares during the period. Findlay Park Partners LLP raised its position in shares of Royal Gold by 1.4% in the first quarter. Findlay Park Partners LLP now owns 1,241,030 shares of the basic materials company’s stock valued at $202,921,000 after purchasing an additional 16,600 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Royal Gold by 6.3% in the first quarter. Dimensional Fund Advisors LP now owns 933,488 shares of the basic materials company’s stock valued at $152,628,000 after purchasing an additional 55,685 shares during the period. Finally, Invesco Ltd. raised its position in shares of Royal Gold by 2.3% in the first quarter. Invesco Ltd. now owns 776,840 shares of the basic materials company’s stock valued at $127,021,000 after purchasing an additional 17,649 shares during the period. 83.65% of the stock is owned by institutional investors.

Royal Gold Stock Performance

NASDAQ:RGLD opened at $169.08 on Wednesday. Royal Gold, Inc. has a 52 week low of $130.67 and a 52 week high of $209.42. The firm has a market cap of $11.13 billion, a price-to-earnings ratio of 24.79, a P/E/G ratio of 0.96 and a beta of 0.41. The firm’s 50-day simple moving average is $188.96 and its 200 day simple moving average is $178.17.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last released its earnings results on Wednesday, August 6th. The basic materials company reported $1.81 EPS for the quarter, beating the consensus estimate of $1.70 by $0.11. Royal Gold had a net margin of 56.24% and a return on equity of 13.30%. The firm had revenue of $209.64 million for the quarter, compared to analyst estimates of $186.63 million. During the same period last year, the firm earned $1.25 EPS. The business’s quarterly revenue was up 20.4% compared to the same quarter last year. Sell-side analysts anticipate that Royal Gold, Inc. will post 6.2 EPS for the current year.

Royal Gold Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 17th. Shareholders of record on Friday, October 3rd were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Friday, October 3rd. Royal Gold’s dividend payout ratio (DPR) is currently 26.39%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on RGLD. Bank of America increased their price objective on shares of Royal Gold from $193.00 to $203.00 and gave the company an “underperform” rating in a research report on Thursday, October 16th. Zacks Research raised shares of Royal Gold from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 17th. TD Securities reaffirmed a “buy” rating and set a $237.00 price target (up from $229.00) on shares of Royal Gold in a research report on Friday, August 8th. Scotiabank reaffirmed an “outperform” rating on shares of Royal Gold in a research report on Thursday, October 23rd. Finally, Raymond James Financial set a $257.00 price target on shares of Royal Gold and gave the stock an “outperform” rating in a research report on Tuesday, October 21st. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Royal Gold presently has a consensus rating of “Moderate Buy” and an average target price of $220.44.

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.