Neuberger Berman Group LLC Has $19.51 Million Position in Royal Gold, Inc. $RGLD

Neuberger Berman Group LLC grew its position in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 1,124.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 109,863 shares of the basic materials company’s stock after purchasing an additional 100,887 shares during the period. Neuberger Berman Group LLC owned about 0.17% of Royal Gold worth $19,512,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Kaufman Rossin Wealth LLC acquired a new position in shares of Royal Gold in the 1st quarter valued at approximately $278,000. Swedbank AB raised its holdings in shares of Royal Gold by 75.1% during the first quarter. Swedbank AB now owns 207,155 shares of the basic materials company’s stock worth $33,872,000 after acquiring an additional 88,828 shares during the period. Autumn Glory Partners LLC bought a new stake in Royal Gold in the 2nd quarter valued at $587,000. Friedenthal Financial acquired a new position in Royal Gold in the 2nd quarter worth $882,000. Finally, Capital Investment Advisors LLC bought a new position in Royal Gold during the 2nd quarter worth about $278,000. Institutional investors and hedge funds own 83.65% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. CIBC upped their price objective on Royal Gold from $225.00 to $250.00 and gave the stock a “neutral” rating in a research report on Friday, October 10th. Bank of America lifted their target price on Royal Gold from $193.00 to $203.00 and gave the stock an “underperform” rating in a research note on Thursday, October 16th. Weiss Ratings reiterated a “buy (b)” rating on shares of Royal Gold in a research note on Wednesday, October 8th. TD Cowen raised their price objective on Royal Gold from $261.00 to $263.00 and gave the stock a “buy” rating in a research note on Tuesday, November 18th. Finally, Wall Street Zen cut Royal Gold from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $225.40.

Royal Gold Price Performance

RGLD stock opened at $203.79 on Friday. The stock has a market cap of $17.20 billion, a price-to-earnings ratio of 29.88, a P/E/G ratio of 0.96 and a beta of 0.39. The company has a 50 day simple moving average of $189.84 and a 200 day simple moving average of $179.08. Royal Gold, Inc. has a 1 year low of $130.67 and a 1 year high of $209.42.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last posted its 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 company had revenue of $250.23 million for the quarter, compared to the consensus estimate of $275.11 million. Royal Gold had a return on equity of 13.30% and a net margin of 56.24%.The business’s quarterly revenue was up 30.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.47 EPS. On average, equities research analysts anticipate that Royal Gold, Inc. will post 6.2 EPS for the current fiscal year.

Royal Gold Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 16th. Shareholders of record on Friday, January 2nd will be issued a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Friday, January 2nd. This is a boost from Royal Gold’s previous quarterly dividend of $0.45. Royal Gold’s payout ratio is currently 26.10%.

Royal Gold Profile

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.