First Quadrant L P CA bought a new stake in Royal Gold, Inc (NASDAQ:RGLD) (TSE:RGL) during the 2nd quarter, Holdings Channel.com reports. The firm bought 2,889 shares of the basic materials company’s stock, valued at approximately $359,000.
A number of other hedge funds also recently made changes to their positions in the stock. First Eagle Investment Management LLC boosted its holdings in Royal Gold by 5.2% in the first quarter. First Eagle Investment Management LLC now owns 3,021,782 shares of the basic materials company’s stock valued at $265,040,000 after acquiring an additional 148,174 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Royal Gold by 5.3% in the first quarter. Geode Capital Management LLC now owns 806,722 shares of the basic materials company’s stock valued at $70,757,000 after acquiring an additional 40,293 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in shares of Royal Gold by 0.6% during the 1st quarter. Acadian Asset Management LLC now owns 770,050 shares of the basic materials company’s stock worth $67,543,000 after buying an additional 4,773 shares in the last quarter. Norges Bank bought a new position in shares of Royal Gold during the 4th quarter worth approximately $74,258,000. Finally, Invesco Ltd. boosted its holdings in shares of Royal Gold by 36.6% during the 1st quarter. Invesco Ltd. now owns 394,751 shares of the basic materials company’s stock worth $34,624,000 after buying an additional 105,672 shares in the last quarter. Institutional investors and hedge funds own 78.42% of the company’s stock.
A number of equities analysts have issued reports on the company. BMO Capital Markets restated a “hold” rating on shares of Royal Gold in a report on Monday, July 13th. Canaccord Genuity restated a “hold” rating and set a $108.00 price target on shares of Royal Gold in a report on Thursday, May 7th. Barclays increased their price target on Royal Gold from $105.00 to $118.00 and gave the stock an “equal weight” rating in a report on Monday, July 20th. Cfra increased their price target on Royal Gold from $136.00 to $151.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Finally, BidaskClub upgraded Royal Gold from a “hold” rating to a “buy” rating in a report on Wednesday, July 22nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $130.30.
NASDAQ RGLD opened at $139.93 on Friday. The firm has a market capitalization of $8.95 billion, a P/E ratio of 57.86, a PEG ratio of 3.69 and a beta of 0.80. The business has a fifty day simple moving average of $124.86 and a 200 day simple moving average of $114.40. Royal Gold, Inc has a 12 month low of $59.78 and a 12 month high of $144.75. The company has a current ratio of 3.02, a quick ratio of 2.78 and a debt-to-equity ratio of 0.04.
Royal Gold (NASDAQ:RGLD) (TSE:RGL) last released its quarterly earnings results on Wednesday, May 6th. The basic materials company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.01. The business had revenue of $136.40 million during the quarter, compared to analyst estimates of $133.59 million. Royal Gold had a return on equity of 6.93% and a net margin of 35.75%. Royal Gold’s quarterly revenue was up 24.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.44 EPS. As a group, sell-side analysts predict that Royal Gold, Inc will post 2.35 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, July 16th. Investors of record on Thursday, July 2nd were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date was Wednesday, July 1st. Royal Gold’s payout ratio is currently 77.24%.
Royal Gold Company Profile
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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