New York State Common Retirement Fund Has $11.87 Million Stake in Royal Gold, Inc. (RGLD)
New York State Common Retirement Fund lifted its holdings in shares of Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 5.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 151,900 shares of the basic materials company’s stock after buying an additional 7,599 shares during the period. New York State Common Retirement Fund owned about 0.23% of Royal Gold worth $11,874,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of RGLD. Arcadia Investment Management Corp MI acquired a new stake in shares of Royal Gold in the 2nd quarter worth approximately $104,000. Almanack Investment Partners LLC. acquired a new stake in shares of Royal Gold in the 2nd quarter worth approximately $109,000. MUFG Americas Holdings Corp acquired a new stake in shares of Royal Gold in the 2nd quarter worth approximately $117,000. KBC Group NV acquired a new stake in shares of Royal Gold in the 2nd quarter worth approximately $142,000. Finally, US Bancorp DE grew its holdings in shares of Royal Gold by 6.4% in the 2nd quarter. US Bancorp DE now owns 2,120 shares of the basic materials company’s stock worth $166,000 after acquiring an additional 127 shares during the period. 70.43% of the stock is owned by institutional investors and hedge funds.
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RGLD has been the topic of a number of research reports. Canaccord Genuity restated a “buy” rating and issued a $105.00 price target (up previously from $99.00) on shares of Royal Gold in a report on Thursday, August 10th. BMO Capital Markets restated a “buy” rating and issued a $95.00 price target on shares of Royal Gold in a report on Thursday, June 29th. BidaskClub upgraded Royal Gold from a “hold” rating to a “buy” rating in a report on Saturday, July 8th. Zacks Investment Research upgraded Royal Gold from a “hold” rating to a “buy” rating and set a $88.00 price target on the stock in a report on Wednesday, July 12th. Finally, FBR & Co upped their price target on Royal Gold from $81.00 to $85.00 and gave the stock a “market perform” rating in a report on Wednesday, August 16th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $92.68.
Shares of Royal Gold, Inc. (NASDAQ:RGLD) opened at 87.85 on Friday. Royal Gold, Inc. has a one year low of $60.21 and a one year high of $94.39. The firm’s 50-day moving average price is $89.53 and its 200-day moving average price is $80.33. The firm has a market cap of $5.74 billion, a PE ratio of 56.68 and a beta of 0.57.
Royal Gold (NASDAQ:RGLD) (TSE:RGL) last posted its quarterly earnings results on Wednesday, August 9th. The basic materials company reported $0.31 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by ($0.02). The company had revenue of $108.90 million during 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%. Royal Gold’s quarterly revenue was up 15.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.32 EPS. Equities research analysts expect that Royal Gold, Inc. will post $1.78 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 20th. Shareholders of record on Friday, October 6th will be issued a $0.24 dividend. The ex-dividend date is Thursday, October 5th. This represents a $0.96 annualized dividend and a dividend yield of 1.09%. Royal Gold’s dividend payout ratio is currently 61.54%.
In other Royal Gold news, CFO Stefan Wenger sold 1,500 shares of the company’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $85.88, for a total value of $128,820.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Bruce Christopher Kirchhoff sold 28,805 shares of the company’s stock in a transaction on Friday, August 18th. The shares were sold at an average price of $86.28, for a total value of $2,485,295.40. The disclosure for this sale can be found here. Insiders sold 106,845 shares of company stock worth $9,319,753 in the last ninety days. 1.37% of the stock is owned by corporate insiders.
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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