Quantitative Investment Management LLC acquired a new position in shares of Royal Gold Inc. (NASDAQ:RGLD) (TSE:RGL) during the third quarter, Holdings Channel reports. The firm acquired 17,000 shares of the company’s stock, valued at approximately $1,316,000.
A number of other hedge funds have also recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Royal Gold by 14.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,669 shares of the company’s stock worth $120,000 after buying an additional 208 shares in the last quarter. Bellwether Investment Group LLC acquired a new position in shares of Royal Gold during the second quarter worth $139,000. Meeder Asset Management Inc. increased its position in shares of Royal Gold by 199,100.0% in the second quarter. Meeder Asset Management Inc. now owns 1,992 shares of the company’s stock worth $144,000 after buying an additional 1,991 shares in the last quarter. Cantab Capital Partners LLP acquired a new position in shares of Royal Gold during the second quarter worth $144,000. Finally, PNC Financial Services Group Inc. increased its position in shares of Royal Gold by 1.0% in the second quarter. PNC Financial Services Group Inc. now owns 2,184 shares of the company’s stock worth $157,000 after buying an additional 22 shares in the last quarter. 67.35% of the stock is owned by institutional investors.
Royal Gold Inc. (NASDAQ:RGLD) remained flat at $67.72 during midday trading on Thursday. 738,341 shares of the company traded hands. The company’s market capitalization is $4.42 billion. The stock has a 50-day moving average price of $69.01 and a 200-day moving average price of $72.25. Royal Gold Inc. has a 12-month low of $24.68 and a 12-month high of $87.74.
Royal Gold (NASDAQ:RGLD) last released its earnings results on Thursday, November 3rd. The company reported $0.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.04. The firm had revenue of $117.90 million for the quarter, compared to analysts’ expectations of $2.40 million. Royal Gold had a positive return on equity of 3.65% and a negative net margin of 0.57%. The business’s quarterly revenue was up 59.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.17 EPS. Equities analysts predict that Royal Gold Inc. will post $1.83 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, January 20th. Shareholders of record on Friday, January 6th will be paid a $0.24 dividend. This is a boost from Royal Gold’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Wednesday, January 4th. This represents a $0.96 annualized dividend and a yield of 1.42%. Royal Gold’s payout ratio is presently -3,066.67%.
A number of brokerages have recently weighed in on RGLD. FBR & Co reiterated a “hold” rating on shares of Royal Gold in a report on Monday, November 7th. Zacks Investment Research upgraded Royal Gold from a “hold” rating to a “buy” rating and set a $85.00 target price on the stock in a report on Tuesday, November 8th. Barclays PLC upped their target price on Royal Gold from $62.00 to $99.00 and gave the company an “overweight” rating in a report on Monday, August 8th. CIBC upgraded Royal Gold from a “sector perform” rating to a “sector outperform” rating and set a $90.00 price objective on the stock in a report on Friday, November 4th. Finally, Goldman Sachs Group Inc. restated a “neutral” rating and issued a $86.00 price objective on shares of Royal Gold in a report on Friday, November 11th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company’s stock. Royal Gold presently has an average rating of “Buy” and a consensus target price of $75.62.
In other Royal Gold news, CFO Stefan Wenger sold 9,917 shares of the business’s stock in a transaction that occurred on Thursday, November 17th. The stock was sold at an average price of $68.03, for a total value of $674,653.51. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.37% of the stock is owned by company insiders.
About Royal Gold
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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