Royal Gold, Inc. $RGLD Stock Position Increased by CIBC Asset Management Inc

CIBC Asset Management Inc boosted its position in shares of Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 17.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,228 shares of the basic materials company’s stock after buying an additional 2,295 shares during the quarter. CIBC Asset Management Inc’s holdings in Royal Gold were worth $3,054,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RGLD. Norges Bank acquired a new position in shares of Royal Gold in the 2nd quarter worth approximately $68,029,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in Royal Gold by 1,090.1% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 319,454 shares of the basic materials company’s stock worth $56,811,000 after buying an additional 292,611 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Royal Gold by 52.3% in the second quarter. Arrowstreet Capital Limited Partnership now owns 833,181 shares of the basic materials company’s stock valued at $148,173,000 after buying an additional 286,268 shares in the last quarter. Nomura Holdings Inc. acquired a new stake in shares of Royal Gold during the 2nd quarter valued at $45,184,000. Finally, Invesco Ltd. boosted its stake in shares of Royal Gold by 19.5% during the 2nd quarter. Invesco Ltd. now owns 928,332 shares of the basic materials company’s stock worth $165,095,000 after acquiring an additional 151,492 shares in the last quarter. 83.65% of the stock is currently owned by institutional investors.

Royal Gold Price Performance

NASDAQ RGLD opened at $293.73 on Wednesday. The company has a 50 day simple moving average of $229.21 and a 200-day simple moving average of $196.82. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.89 and a quick ratio of 2.68. The firm has a market capitalization of $24.79 billion, a price-to-earnings ratio of 40.35, a price-to-earnings-growth ratio of 0.80 and a beta of 0.49. Royal Gold, Inc. has a 52-week low of $136.00 and a 52-week high of $299.60.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last announced its quarterly earnings data on Wednesday, November 5th. The basic materials company reported $2.06 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.24). Royal Gold had a net margin of 55.99% and a return on equity of 14.14%. The company had revenue of $250.23 million for the quarter, compared to analysts’ expectations of $275.11 million. During the same period in the previous year, the firm posted $1.47 earnings per share. The business’s revenue for the quarter was up 30.1% on a year-over-year basis. Equities research analysts predict that Royal Gold, Inc. will post 6.2 earnings per share for the current fiscal year.

Royal Gold Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 16th. Investors of record on Friday, January 2nd were issued a dividend of $0.475 per share. This is a positive change from Royal Gold’s previous quarterly dividend of $0.45. This represents a $1.90 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Friday, January 2nd. Royal Gold’s dividend payout ratio is 26.10%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on RGLD shares. CIBC boosted their target price on Royal Gold from $225.00 to $250.00 and gave the stock a “neutral” rating in a research report on Friday, October 10th. Raymond James Financial set a $264.00 price objective on Royal Gold in a report on Thursday, November 6th. Zacks Research raised shares of Royal Gold from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 19th. Weiss Ratings reissued a “buy (b)” rating on shares of Royal Gold in a research report on Thursday, January 22nd. Finally, Jefferies Financial Group restated a “buy” rating and issued a $270.00 price target on shares of Royal Gold in a research report on Sunday, December 7th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Royal Gold presently has a consensus rating of “Moderate Buy” and an average target price of $243.50.

About Royal Gold

Royal Gold, Inc, headquartered in Denver, Colorado, is a leading precious metals streaming and royalty company. Through its business model, Royal Gold provides upfront financing to mining operators in exchange for the right to purchase a percentage of future metal production at predetermined prices. This structure allows the company to participate in production upside while minimizing exposure to the operating and capital-intensive aspects of mine ownership.

The company’s portfolio encompasses interests in over 200 streams and royalties on projects across North America, South America, Europe, Africa and Australia.