Bank of Montreal Can acquired a new stake in shares of Royal Gold Inc. (NASDAQ:RGLD) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 39,338 shares of the company’s stock, valued at approximately $2,833,000.
A number of other hedge funds have also recently made changes to their positions in the stock. Teachers Advisors Inc. increased its stake in shares of Royal Gold by 2.7% in the first quarter. Teachers Advisors Inc. now owns 114,308 shares of the company’s stock worth $5,863,000 after buying an additional 2,992 shares during the last quarter. BlackRock Inc. increased its stake in shares of Royal Gold by 2.4% in the first quarter. BlackRock Inc. now owns 283,775 shares of the company’s stock worth $14,555,000 after buying an additional 6,640 shares during the last quarter. Royce & Associates LP increased its stake in shares of Royal Gold by 100.5% in the first quarter. Royce & Associates LP now owns 39,900 shares of the company’s stock worth $2,046,000 after buying an additional 20,000 shares during the last quarter. State Street Corp increased its stake in shares of Royal Gold by 6.7% in the first quarter. State Street Corp now owns 2,118,783 shares of the company’s stock worth $108,671,000 after buying an additional 133,359 shares during the last quarter. Finally, Rafferty Asset Management LLC bought a new stake in shares of Royal Gold during the first quarter worth about $3,623,000. 68.95% of the stock is currently owned by institutional investors.
Royal Gold Inc. (NASDAQ:RGLD) traded up 1.43% during midday trading on Monday, hitting $66.90. 600,379 shares of the stock traded hands. The company’s 50 day moving average price is $74.94 and its 200 day moving average price is $69.71. The firm’s market cap is $4.37 billion. Royal Gold Inc. has a 12 month low of $24.68 and a 12 month high of $87.74.
Royal Gold (NASDAQ:RGLD) last issued its earnings results on Wednesday, August 10th. The company reported $0.32 EPS for the quarter, missing the Zacks’ consensus estimate of $0.33 by $0.01. The firm earned $94.10 million during the quarter, compared to analysts’ expectations of $100.62 million. Royal Gold had a negative net margin of 21.44% and a positive return on equity of 2.81%. Royal Gold’s quarterly revenue was up 27.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.23 EPS. Equities research analysts predict that Royal Gold Inc. will post $1.86 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, October 14th. Investors of record on Friday, September 30th were given a $0.23 dividend. The ex-dividend date of this dividend was Wednesday, September 28th. This represents a $0.92 dividend on an annualized basis and a yield of 1.38%. Royal Gold’s dividend payout ratio is currently -77.97%.
A number of analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Royal Gold from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 12th. FBR & Co set a $80.00 price objective on shares of Royal Gold and gave the stock a “hold” rating in a research note on Tuesday, September 20th. RBC Capital Markets reiterated an “outperform” rating on shares of Royal Gold in a research note on Tuesday, September 20th. Barclays PLC increased their price objective on shares of Royal Gold from $62.00 to $99.00 and gave the stock an “overweight” rating in a research note on Monday, August 8th. Finally, HSBC reiterated a “buy” rating on shares of Royal Gold in a research note on Thursday, July 7th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $71.58.
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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