California Public Employees Retirement System Acquires 3,300 Shares of Royal Gold, Inc. (RGLD)
California Public Employees Retirement System boosted its holdings in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 2.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 158,900 shares of the basic materials company’s stock after acquiring an additional 3,300 shares during the quarter. California Public Employees Retirement System owned 0.24% of Royal Gold worth $12,421,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in RGLD. Arcadia Investment Management Corp MI bought a new position in Royal Gold in the 2nd quarter valued at about $104,000. Almanack Investment Partners LLC. bought a new position in Royal Gold in the 2nd quarter valued at about $109,000. MUFG Americas Holdings Corp bought a new position in Royal Gold in the 2nd quarter valued at about $117,000. KBC Group NV bought a new position in Royal Gold in the 2nd quarter valued at about $142,000. Finally, US Bancorp DE lifted its position in Royal Gold by 6.4% in the 2nd quarter. US Bancorp DE now owns 2,120 shares of the basic materials company’s stock valued at $166,000 after acquiring an additional 127 shares in the last quarter. 70.43% of the stock is currently owned by institutional investors and hedge funds.
Royal Gold, Inc. (NASDAQ:RGLD) opened at 86.59 on Thursday. The firm’s 50 day moving average is $89.53 and its 200 day moving average is $80.12. Royal Gold, Inc. has a 52-week low of $60.21 and a 52-week high of $94.39. The company has a market cap of $5.66 billion, a PE ratio of 55.86 and a beta of 0.57.
Royal Gold (NASDAQ:RGLD) (TSE:RGL) last issued its quarterly earnings data on Wednesday, August 9th. The basic materials company reported $0.31 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.33 by ($0.02). The company had revenue of $108.90 million for the quarter, compared to the consensus estimate of $108.72 million. Royal Gold had a net margin of 23.03% and a return on equity of 4.19%. The firm’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same quarter last year, the company earned $0.32 EPS. Analysts forecast that Royal Gold, Inc. will post $1.80 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 20th. Investors of record on Friday, October 6th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $0.96 dividend on an annualized basis and a yield of 1.11%. Royal Gold’s dividend payout ratio (DPR) is 61.54%.
Several equities analysts recently weighed in on the stock. FBR & Co raised their price target on shares of Royal Gold from $81.00 to $85.00 and gave the company a “market perform” rating in a research report on Wednesday, August 16th. Canaccord Genuity reaffirmed a “buy” rating and issued a $105.00 price target (up previously from $99.00) on shares of Royal Gold in a research report on Thursday, August 10th. Raymond James Financial, Inc. reaffirmed a “market perform” rating and issued a $88.00 price target on shares of Royal Gold in a research report on Thursday, June 15th. BidaskClub cut shares of Royal Gold from a “buy” rating to a “hold” rating in a research report on Saturday, June 10th. Finally, BMO Capital Markets reaffirmed a “buy” rating and issued a $95.00 price target on shares of Royal Gold in a research report on Wednesday, September 6th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $92.68.
In related news, VP Bruce Christopher Kirchhoff sold 28,805 shares of the stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $86.28, for a total transaction of $2,485,295.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Tony A. Jensen sold 25,000 shares of the stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $85.00, for a total transaction of $2,125,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 106,845 shares of company stock worth $9,319,753. 1.37% of the stock is owned by insiders.
Royal Gold Company 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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