Royal Gold, Inc. $RGLD Shares Bought by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. lifted its holdings in shares of Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 1,544.6% during the 1st quarter, Holdings Channel.com reports. The fund owned 26,610 shares of the basic materials company’s stock after buying an additional 24,992 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Royal Gold were worth $4,351,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in RGLD. WPG Advisers LLC purchased a new position in shares of Royal Gold in the 1st quarter valued at approximately $27,000. Alpine Bank Wealth Management purchased a new stake in Royal Gold during the first quarter valued at about $32,000. Banque Cantonale Vaudoise purchased a new stake in shares of Royal Gold in the first quarter worth about $34,000. Bayforest Capital Ltd boosted its holdings in Royal Gold by 256.5% in the first quarter. Bayforest Capital Ltd now owns 246 shares of the basic materials company’s stock valued at $40,000 after purchasing an additional 177 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new position in Royal Gold in the first quarter valued at about $40,000. Hedge funds and other institutional investors own 83.65% of the company’s stock.

Royal Gold Stock Up 0.8%

Shares of RGLD opened at $186.43 on Tuesday. The stock has a market cap of $12.27 billion, a price-to-earnings ratio of 27.34, a P/E/G ratio of 1.35 and a beta of 0.43. Royal Gold, Inc. has a 12 month low of $130.67 and a 12 month high of $191.78. The company has a 50-day moving average price of $167.27 and a two-hundred day moving average price of $169.27.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last posted its earnings results on Wednesday, August 6th. The basic materials company reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.11. Royal Gold had a net margin of 56.24% and a return on equity of 13.30%. The company had revenue of $209.64 million during the quarter, compared to analysts’ expectations of $186.63 million. During the same quarter in the previous year, the company posted $1.25 earnings per share. Royal Gold’s quarterly revenue was up 20.4% compared to the same quarter last year. Equities research analysts expect that Royal Gold, Inc. will post 6.2 EPS for the current fiscal year.

Royal Gold Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Friday, October 3rd will be paid a $0.45 dividend. 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 1.0%. Royal Gold’s dividend payout ratio is presently 26.39%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on RGLD. Zacks Research cut Royal Gold from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 19th. BMO Capital Markets set a $197.00 target price on Royal Gold and gave the company a “market perform” rating in a research report on Thursday, May 22nd. Canaccord Genuity Group increased their price target on Royal Gold from $202.00 to $203.00 in a research note on Wednesday, June 11th. Wall Street Zen upgraded Royal Gold from a “hold” rating to a “buy” rating in a report on Saturday, August 30th. 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 report on Friday, August 8th. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Royal Gold has an average rating of “Moderate Buy” and a consensus target price of $198.63.

About Royal Gold

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.