Russell Investments Group Ltd. raised its stake in shares of Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 51.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 173,285 shares of the basic materials company’s stock after buying an additional 58,828 shares during the quarter. Russell Investments Group Ltd. owned about 0.26% of Royal Gold worth $18,627,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. NEXT Financial Group Inc purchased a new position in shares of Royal Gold during the third quarter worth about $37,000. Perigon Wealth Management LLC purchased a new position in shares of Royal Gold during the fourth quarter worth about $42,000. Planned Solutions Inc. purchased a new position in shares of Royal Gold during the fourth quarter worth about $48,000. Fortis Group Advisors LLC purchased a new position in shares of Royal Gold during the third quarter worth about $57,000. Finally, International Assets Investment Management LLC purchased a new position in shares of Royal Gold during the fourth quarter worth about $63,000. 74.95% of the stock is owned by institutional investors and hedge funds.
In other news, VP Randy Shefman sold 900 shares of the business’s stock in a transaction that occurred on Wednesday, February 10th. The stock was sold at an average price of $109.19, for a total transaction of $98,271.00. Following the transaction, the vice president now directly owns 6,188 shares of the company’s stock, valued at $675,667.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.38% of the stock is currently owned by insiders.
Royal Gold (NASDAQ:RGLD) (TSE:RGL) last announced its quarterly earnings data on Tuesday, February 2nd. The basic materials company reported $0.92 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.07. Royal Gold had a return on equity of 7.56% and a net margin of 44.76%. The firm had revenue of $158.40 million during the quarter, compared to the consensus estimate of $152.81 million. During the same quarter in the previous year, the company posted $0.63 earnings per share. The business’s revenue was up 28.2% on a year-over-year basis. As a group, equities analysts predict that Royal Gold, Inc. will post 3.55 earnings per share for the current year.
RGLD has been the subject of a number of recent research reports. National Bank Financial dropped their target price on Royal Gold from $155.00 to $150.00 and set a “sector perform” rating for the company in a research report on Thursday, February 4th. TheStreet downgraded Royal Gold from a “b-” rating to a “c+” rating in a research report on Wednesday, February 3rd. Raymond James dropped their target price on Royal Gold from $155.00 to $150.00 and set an “outperform” rating for the company in a research report on Friday, February 5th. Canaccord Genuity upgraded Royal Gold from a “hold” rating to a “buy” rating in a research report on Monday, November 23rd. Finally, Royal Bank of Canada upgraded Royal Gold from a “sector perform” rating to an “outperform” rating and dropped their target price for the stock from $155.00 to $150.00 in a research report on Monday, January 11th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $138.45.
About Royal Gold
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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