Good Life Advisors LLC Invests $2.99 Million in Royal Gold, Inc. $RGLD

Good Life Advisors LLC acquired a new stake in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 16,782 shares of the basic materials company’s stock, valued at approximately $2,985,000.

Several other hedge funds have also made changes to their positions in RGLD. Kaizen Financial Strategies acquired a new stake in shares of Royal Gold in the 2nd quarter worth about $465,000. Police & Firemen s Retirement System of New Jersey increased its position in shares of Royal Gold by 5.6% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 25,060 shares of the basic materials company’s stock valued at $4,457,000 after purchasing an additional 1,325 shares during the period. Geode Capital Management LLC raised its position in Royal Gold by 3.6% in the second quarter. Geode Capital Management LLC now owns 1,751,136 shares of the basic materials company’s stock worth $311,457,000 after acquiring an additional 61,352 shares in the last quarter. PNC Financial Services Group Inc. raised its position in Royal Gold by 57.5% in the second quarter. PNC Financial Services Group Inc. now owns 8,134 shares of the basic materials company’s stock worth $1,447,000 after acquiring an additional 2,971 shares in the last quarter. Finally, denkapparat Operations GmbH lifted its holdings in Royal Gold by 22.0% in the 2nd quarter. denkapparat Operations GmbH now owns 2,222 shares of the basic materials company’s stock valued at $395,000 after acquiring an additional 400 shares during the last quarter. Institutional investors own 83.65% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on RGLD. Bank of America lifted their price objective on shares of Royal Gold from $193.00 to $203.00 and gave the stock an “underperform” rating in a research note on Thursday, October 16th. Wall Street Zen cut shares of Royal Gold from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Raymond James Financial set a $264.00 price target on shares of Royal Gold in a research report on Thursday, November 6th. TD Securities reiterated a “buy” rating and set a $237.00 price objective (up previously from $229.00) on shares of Royal Gold in a research report on Friday, August 8th. Finally, Zacks Research raised Royal Gold from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $221.22.

Royal Gold Trading Up 0.6%

Shares of RGLD stock opened at $194.59 on Thursday. The company has a market capitalization of $12.81 billion, a price-to-earnings ratio of 28.62, a P/E/G ratio of 0.96 and a beta of 0.39. Royal Gold, Inc. has a 1-year low of $130.67 and a 1-year high of $209.42. The stock’s fifty day simple moving average is $189.13 and its 200-day simple moving average is $178.15.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last announced its quarterly earnings data on Wednesday, November 5th. The basic materials company reported $2.06 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.24). The business had revenue of $250.23 million for the quarter, compared to analyst estimates of $275.11 million. Royal Gold had a return on equity of 13.30% and a net margin of 56.24%.The company’s revenue was up 30.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.47 earnings per share. On average, sell-side analysts predict that Royal Gold, Inc. will post 6.2 EPS for the current year.

Royal Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 17th. Shareholders of record on Friday, October 3rd were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 0.9%. The ex-dividend date was Friday, October 3rd. Royal Gold’s dividend payout ratio is currently 24.73%.

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.