Inspire Investing LLC bought a new position in Royal Gold, Inc. (NASDAQ:RGLD – Get Rating) (TSE:RGL) in the first quarter, HoldingsChannel reports. The institutional investor purchased 1,661 shares of the basic materials company’s stock, valued at approximately $235,000.
A number of other hedge funds have also recently added to or reduced their stakes in RGLD. Chase Investment Counsel Corp purchased a new stake in shares of Royal Gold during the first quarter valued at $1,020,000. CWM LLC boosted its stake in shares of Royal Gold by 21.6% in the first quarter. CWM LLC now owns 849 shares of the basic materials company’s stock valued at $120,000 after purchasing an additional 151 shares in the last quarter. Destiny Wealth Partners LLC bought a new stake in shares of Royal Gold in the first quarter valued at $107,000. Sigma Planning Corp raised its stake in shares of Royal Gold by 72.5% in the first quarter. Sigma Planning Corp now owns 7,416 shares of the basic materials company’s stock valued at $1,048,000 after purchasing an additional 3,116 shares in the last quarter. Finally, Uncommon Cents Investing LLC boosted its stake in shares of Royal Gold by 10.9% in the first quarter. Uncommon Cents Investing LLC now owns 11,725 shares of the basic materials company’s stock valued at $1,657,000 after buying an additional 1,155 shares during the last quarter. 80.33% of the shares are owned by institutional investors and hedge funds.
RGLD has been the subject of a number of research reports. Canaccord Genuity Group raised shares of Royal Gold from a “hold” rating to a “buy” rating in a research note on Monday, June 13th. StockNews.com started coverage on shares of Royal Gold in a report on Thursday, March 31st. They assign a “hold” rating to the company. Barclays boosted their target price on shares of Royal Gold from $122.00 to $128.00 in a report on Thursday, April 21st. Raymond James set a $158.00 target price on shares of Royal Gold and gave the company an “outperform” rating in a report on Friday, May 6th. Finally, National Bank Financial boosted their price objective on shares of Royal Gold from C$140.00 to C$165.00 in a report on Wednesday, April 20th. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Royal Gold has an average rating of “Moderate Buy” and an average target price of $141.62, based on data from MarketBeat.com.
Shares of NASDAQ RGLD opened at $107.79 on Friday. Royal Gold, Inc. has a 12-month low of $92.01 and a 12-month high of $147.70. The firm has a market cap of $7.08 billion, a PE ratio of 24.78 and a beta of 0.66. The firm has a fifty day simple moving average of $114.65 and a two hundred day simple moving average of $118.91.
Royal Gold (NASDAQ:RGLD – Get Rating ) (TSE:RGL) last posted its quarterly earnings data on Wednesday, May 4th. The basic materials company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.83 by $0.16. Royal Gold had a net margin of 42.43% and a return on equity of 10.61%. The business had revenue of $162.40 million during the quarter, compared to analyst estimates of $156.00 million. During the same period in the prior year, the business earned $0.84 EPS. The company’s revenue for the quarter was up 13.9% on a year-over-year basis. Analysts expect Royal Gold, Inc. to post 3.8 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 15th. Shareholders of record on Friday, July 1st will be given a $0.35 dividend. The ex-dividend date is Thursday, June 30th. This represents a $1.40 annual dividend and a yield of 1.30%. Royal Gold’s dividend payout ratio (DPR) is currently 32.18%.
In other Royal Gold news, VP Randy Sheffman sold 638 shares of the company’s stock in a transaction on Thursday, June 2nd. The shares were sold at an average price of $117.57, for a total value of $75,009.66. Following the completion of the transaction, the vice president now directly owns 9,456 shares in the company, valued at approximately $1,111,741.92. The sale was disclosed in a filing with the Securities and Exchange Commission, which can be accessed through the SEC’s website. 0.38% of shares are currently owned by corporate insiders.
About the royal gold (Get Rating)
Royal Gold, Inc, together with its subsidiaries, acquires and manages precious metal streams, royalties and related interests. It focuses on acquiring stream interests and royalties or to finance projects that are in production or in the development stage in exchange for stream interests or royalties that primarily consist of gold, silver, copper, nickel, zinc, lead and cobalt.
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