Gamco Investors INC. ET AL raised its stake in shares of Royal Gold, Inc (NASDAQ:RGLD) (TSE:RGL) by 64.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,293 shares of the basic materials company’s stock after buying an additional 7,953 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Royal Gold were worth $2,500,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in Royal Gold by 3.6% during the second quarter. Vanguard Group Inc. now owns 7,230,223 shares of the basic materials company’s stock valued at $741,024,000 after buying an additional 251,565 shares during the last quarter. Nuveen Asset Management LLC purchased a new position in shares of Royal Gold in the second quarter worth $45,477,000. Invesco Ltd. raised its stake in shares of Royal Gold by 353.5% in the second quarter. Invesco Ltd. now owns 350,177 shares of the basic materials company’s stock worth $35,890,000 after purchasing an additional 272,966 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Royal Gold by 2.5% in the second quarter. Charles Schwab Investment Management Inc. now owns 342,076 shares of the basic materials company’s stock worth $35,060,000 after purchasing an additional 8,460 shares during the last quarter. Finally, Rhumbline Advisers raised its stake in shares of Royal Gold by 0.9% in the third quarter. Rhumbline Advisers now owns 179,096 shares of the basic materials company’s stock worth $22,066,000 after purchasing an additional 1,624 shares during the last quarter. Institutional investors and hedge funds own 78.20% of the company’s stock.
Royal Gold stock traded down $0.19 during mid-day trading on Friday, reaching $113.56. 890,400 shares of the stock traded hands, compared to its average volume of 505,029. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.60 and a quick ratio of 4.26. The stock has a market capitalization of $7.26 billion, a PE ratio of 78.32, a price-to-earnings-growth ratio of 4.43 and a beta of 0.10. Royal Gold, Inc has a 12-month low of $70.16 and a 12-month high of $138.78. The business’s 50-day moving average is $122.05 and its 200-day moving average is $110.39.
Royal Gold (NASDAQ:RGLD) (TSE:RGL) last posted its earnings results on Wednesday, November 6th. The basic materials company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. The company had revenue of $118.77 million for the quarter, compared to the consensus estimate of $129.47 million. Royal Gold had a return on equity of 4.42% and a net margin of 22.18%. The firm’s revenue for the quarter was up 18.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.23 earnings per share. Equities analysts anticipate that Royal Gold, Inc will post 2.5 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Friday, October 4th were given a $0.265 dividend. The ex-dividend date of this dividend was Thursday, October 3rd. This represents a $1.06 dividend on an annualized basis and a dividend yield of 0.93%. Royal Gold’s dividend payout ratio is currently 73.10%.
Several research analysts have recently weighed in on the company. Cantor Fitzgerald upgraded Royal Gold from a “hold” rating to a “buy” rating in a research note on Thursday. ValuEngine cut Royal Gold from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Raymond James set a $122.00 price target on Royal Gold and gave the stock a “market perform” rating in a research note on Friday. BidaskClub cut Royal Gold from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, CIBC cut Royal Gold from a “sector outperform” rating to a “neutral” rating in a research note on Thursday, August 1st. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have issued a buy rating to the company. Royal Gold presently has an average rating of “Hold” and a consensus price target of $111.31.
In related news, CEO Tony A. Jensen sold 14,984 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $134.08, for a total value of $2,009,054.72. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Mark Isto sold 2,497 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $135.00, for a total value of $337,095.00. Following the completion of the sale, the vice president now owns 24,442 shares in the company, valued at $3,299,670. The disclosure for this sale can be found here. Insiders sold 87,603 shares of company stock worth $11,107,708 over the last quarter. 0.52% of the stock is owned by company insiders.
About Royal Gold
Royal Gold, Inc, together with its subsidiaries, acquires and manages precious metal streams, royalties, and related interests. It focuses on acquiring stream and royalty interests or to finance projects that are in production or in development stage in exchange for stream or royalty interests, which primarily consists of gold, silver, copper, nickel, zinc, lead, cobalt, and molybdenum.
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