Principal Financial Group Inc. Has $29.33 Million Holdings in Royal Gold, Inc. $RGLD

Principal Financial Group Inc. trimmed its holdings in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 2.0% in the 3rd quarter, Holdings Channel reports. The fund owned 146,215 shares of the basic materials company’s stock after selling 3,011 shares during the quarter. Principal Financial Group Inc.’s holdings in Royal Gold were worth $29,328,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. AQR Capital Management LLC boosted its holdings in Royal Gold by 8.2% in the 2nd quarter. AQR Capital Management LLC now owns 1,820,435 shares of the basic materials company’s stock valued at $319,140,000 after purchasing an additional 137,524 shares during the period. Geode Capital Management LLC raised its position in shares of Royal Gold by 3.6% during the second quarter. Geode Capital Management LLC now owns 1,751,136 shares of the basic materials company’s stock valued at $311,457,000 after buying an additional 61,352 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Royal Gold by 19.5% in the second quarter. Invesco Ltd. now owns 928,332 shares of the basic materials company’s stock valued at $165,095,000 after buying an additional 151,492 shares during the period. Arrowstreet Capital Limited Partnership grew its position in Royal Gold by 52.3% during the second quarter. Arrowstreet Capital Limited Partnership now owns 833,181 shares of the basic materials company’s stock worth $148,173,000 after buying an additional 286,268 shares in the last quarter. Finally, Swedbank AB increased its stake in Royal Gold by 35.0% during the third quarter. Swedbank AB now owns 424,129 shares of the basic materials company’s stock valued at $85,072,000 after acquiring an additional 109,981 shares during the period. Institutional investors own 83.65% of the company’s stock.

Royal Gold Price Performance

Shares of RGLD opened at $265.77 on Friday. The stock has a market cap of $22.43 billion, a P/E ratio of 36.51, a price-to-earnings-growth ratio of 0.70 and a beta of 0.49. Royal Gold, Inc. has a 1 year low of $142.95 and a 1 year high of $306.25. The stock’s 50-day moving average price is $241.62 and its two-hundred day moving average price is $202.58. The company has a current ratio of 2.89, a quick ratio of 2.68 and a debt-to-equity ratio of 0.23.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last announced its quarterly earnings results on Wednesday, November 5th. The basic materials company reported $2.06 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.24). The firm had revenue of $250.23 million during the quarter, compared to analyst estimates of $275.11 million. Royal Gold had a net margin of 55.99% and a return on equity of 14.14%. The business’s revenue was up 30.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.47 earnings per share. On average, equities analysts predict that Royal Gold, Inc. will post 6.2 earnings per share for the current year.

Royal Gold Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Friday, January 2nd were given a dividend of $0.475 per share. This is a positive change from Royal Gold’s previous quarterly dividend of $0.45. This represents a $1.90 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, January 2nd. Royal Gold’s payout ratio is 26.10%.

Wall Street Analyst Weigh In

A number of analysts have commented on RGLD shares. Wall Street Zen downgraded Royal Gold from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Raymond James Financial set a $264.00 price objective on Royal Gold in a report on Thursday, November 6th. Jefferies Financial Group restated a “buy” rating and issued a $270.00 target price on shares of Royal Gold in a research note on Sunday, December 7th. Scotiabank cut shares of Royal Gold from a “sector outperform” rating to a “sector perform” rating and set a $335.00 target price for the company. in a research report on Monday, January 26th. Finally, Canadian Imperial Bank of Commerce reissued a “neutral” rating and set a $330.00 price target on shares of Royal Gold in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $251.50.

Royal Gold Profile

Royal Gold, Inc, headquartered in Denver, Colorado, is a leading precious metals streaming and royalty company. Through its business model, Royal Gold provides upfront financing to mining operators in exchange for the right to purchase a percentage of future metal production at predetermined prices. This structure allows the company to participate in production upside while minimizing exposure to the operating and capital-intensive aspects of mine ownership.

The company’s portfolio encompasses interests in over 200 streams and royalties on projects across North America, South America, Europe, Africa and Australia.