ProShare Advisors LLC Buys 41,382 Shares of Royal Gold, Inc. $RGLD

ProShare Advisors LLC grew its stake in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 22.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 225,400 shares of the basic materials company’s stock after acquiring an additional 41,382 shares during the period. ProShare Advisors LLC’s holdings in Royal Gold were worth $45,211,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Oppenheimer & Co. Inc. boosted its holdings in shares of Royal Gold by 4.3% in the third quarter. Oppenheimer & Co. Inc. now owns 3,785 shares of the basic materials company’s stock valued at $759,000 after purchasing an additional 155 shares during the period. Meixler Investment Management Ltd. bought a new stake in Royal Gold during the 3rd quarter valued at $603,000. Signature Estate & Investment Advisors LLC purchased a new stake in shares of Royal Gold in the 3rd quarter worth $22,219,000. Azzad Asset Management Inc. ADV bought a new position in shares of Royal Gold during the 3rd quarter worth $2,059,000. Finally, Smartleaf Asset Management LLC grew its position in shares of Royal Gold by 248.9% during the 3rd quarter. Smartleaf Asset Management LLC now owns 321 shares of the basic materials company’s stock worth $64,000 after buying an additional 229 shares in the last quarter. 83.65% of the stock is owned by hedge funds and other institutional investors.

Royal Gold Trading Up 5.1%

NASDAQ RGLD opened at $279.21 on Tuesday. Royal Gold, Inc. has a 52 week low of $142.95 and a 52 week high of $306.25. The company has a 50 day moving average price of $243.18 and a 200 day moving average price of $204.08. The company has a quick ratio of 2.68, a current ratio of 2.89 and a debt-to-equity ratio of 0.23. The firm has a market cap of $23.57 billion, a PE ratio of 38.35, a price-to-earnings-growth ratio of 0.73 and a beta of 0.49.

Royal Gold Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Friday, January 2nd were issued a dividend of $0.475 per share. The ex-dividend date was Friday, January 2nd. This represents a $1.90 annualized dividend and a dividend yield of 0.7%. This is a boost from Royal Gold’s previous quarterly dividend of $0.45. Royal Gold’s dividend payout ratio (DPR) is currently 26.10%.

Analysts Set New Price Targets

Several research firms recently weighed in on RGLD. Scotiabank downgraded Royal Gold from a “sector outperform” rating to a “sector perform” rating and set a $335.00 price objective for the company. in a report on Monday, January 26th. Weiss Ratings restated a “buy (b)” rating on shares of Royal Gold in a report on Thursday, January 22nd. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating and issued a $330.00 price target on shares of Royal Gold in a research report on Wednesday, February 4th. BMO Capital Markets set a $240.00 price objective on shares of Royal Gold and gave the company an “outperform” rating in a report on Tuesday, October 21st. Finally, Zacks Research upgraded Royal Gold from a “hold” rating to a “strong-buy” rating in a report on Monday, January 19th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $251.50.

Royal Gold Profile

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.