Legal & General Group Plc raised its stake in Royal Gold, Inc (NASDAQ:RGLD) (TSE:RGL) by 15.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 87,464 shares of the basic materials company’s stock after buying an additional 11,965 shares during the period. Legal & General Group Plc owned about 0.13% of Royal Gold worth $7,526,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. TD Asset Management Inc. bought a new stake in shares of Royal Gold in the 3rd quarter valued at about $3,878,000. ING Groep NV bought a new stake in shares of Royal Gold in the 3rd quarter valued at about $688,000. America First Investment Advisors LLC grew its position in shares of Royal Gold by 2.7% in the 3rd quarter. America First Investment Advisors LLC now owns 150,863 shares of the basic materials company’s stock valued at $12,980,000 after buying an additional 3,996 shares during the last quarter. Pacer Advisors Inc. grew its position in shares of Royal Gold by 28.4% in the 3rd quarter. Pacer Advisors Inc. now owns 10,713 shares of the basic materials company’s stock valued at $922,000 after buying an additional 2,367 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Royal Gold in the 3rd quarter valued at about $619,000. Hedge funds and other institutional investors own 72.04% of the company’s stock.
In related news, CFO Stefan Wenger sold 1,500 shares of the company’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $85.88, for a total transaction of $128,820.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders have sold 4,500 shares of company stock worth $383,820. 1.12% of the stock is owned by corporate insiders.
Shares of Royal Gold, Inc (RGLD) opened at $84.64 on Friday. Royal Gold, Inc has a 52-week low of $60.21 and a 52-week high of $94.39. The company has a debt-to-equity ratio of 0.23, a quick ratio of 3.73 and a current ratio of 3.92. The company has a market capitalization of $5,480.00, a PE ratio of 56.76, a P/E/G ratio of 4.73 and a beta of 0.46.
Royal Gold (NASDAQ:RGLD) (TSE:RGL) last announced its earnings results on Wednesday, November 1st. The basic materials company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.37 by $0.07. Royal Gold had a return on equity of 4.12% and a net margin of 23.06%. The company had revenue of $112.50 million for the quarter, compared to analyst estimates of $112.43 million. During the same quarter in the prior year, the company earned $0.46 EPS. The firm’s revenue for the quarter was down 4.7% compared to the same quarter last year. research analysts forecast that Royal Gold, Inc will post 1.76 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 19th. Investors of record on Friday, January 5th will be given a dividend of $0.25 per share. This is a positive change from Royal Gold’s previous quarterly dividend of $0.24. The ex-dividend date is Thursday, January 4th. This represents a $1.00 annualized dividend and a dividend yield of 1.18%. Royal Gold’s dividend payout ratio is presently 62.34%.
A number of equities research analysts have commented on RGLD shares. BMO Capital Markets reiterated a “buy” rating and issued a $95.00 price target on shares of Royal Gold in a research report on Wednesday, September 6th. Zacks Investment Research upgraded Royal Gold from a “sell” rating to a “hold” rating in a research report on Wednesday, November 8th. Royal Bank of Canada reiterated an “outperform” rating on shares of Royal Gold in a research report on Thursday, September 7th. Canaccord Genuity reiterated a “buy” rating and issued a $114.00 price target on shares of Royal Gold in a research report on Sunday, October 22nd. Finally, Eight Capital reiterated a “neutral” rating on shares of Royal Gold in a research report on Thursday, November 16th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Royal Gold presently has an average rating of “Hold” and a consensus price target of $96.28.
Royal Gold Profile
Royal Gold, Inc, together with its subsidiaries, is engaged in acquiring and managing precious metal streams, royalties and similar interests. The Company operates through two segments: Acquisition and Management of Stream Interests, and Acquisition and Management of Royalty Interests. Its assets are located in Canada, Chile, Dominican Republic, Mexico, the United States, Africa, Australia and Other.
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