Price T Rowe Associates Inc. MD Acquires 15,167 Shares of Royal Gold, Inc. $RGLD

Price T Rowe Associates Inc. MD boosted its holdings in shares of Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 3.9% during the first quarter, HoldingsChannel reports. The fund owned 405,224 shares of the basic materials company’s stock after purchasing an additional 15,167 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in Royal Gold were worth $66,259,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. PFG Investments LLC grew its holdings in Royal Gold by 0.9% during the 1st quarter. PFG Investments LLC now owns 5,938 shares of the basic materials company’s stock worth $971,000 after acquiring an additional 54 shares during the last quarter. BCS Wealth Management boosted its stake in shares of Royal Gold by 0.3% in the 1st quarter. BCS Wealth Management now owns 20,704 shares of the basic materials company’s stock valued at $3,385,000 after purchasing an additional 63 shares during the last quarter. NorthRock Partners LLC boosted its stake in shares of Royal Gold by 4.5% in the 1st quarter. NorthRock Partners LLC now owns 1,586 shares of the basic materials company’s stock valued at $259,000 after purchasing an additional 68 shares during the last quarter. GoalVest Advisory LLC boosted its stake in shares of Royal Gold by 5.2% in the 1st quarter. GoalVest Advisory LLC now owns 1,505 shares of the basic materials company’s stock valued at $246,000 after purchasing an additional 75 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its stake in shares of Royal Gold by 0.7% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 13,471 shares of the basic materials company’s stock valued at $2,203,000 after purchasing an additional 100 shares during the last quarter. 83.65% of the stock is owned by institutional investors.

Royal Gold Trading Up 1.9%

RGLD opened at $177.89 on Wednesday. The company’s fifty day moving average price is $166.89 and its two-hundred day moving average price is $167.10. Royal Gold, Inc. has a 1-year low of $130.67 and a 1-year high of $191.78. The company has a market cap of $11.71 billion, a price-to-earnings ratio of 26.08, a PEG ratio of 1.28 and a beta of 0.40.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last released its quarterly earnings data on Wednesday, August 6th. The basic materials company reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.11. Royal Gold had a net margin of 56.24% and a return on equity of 13.30%. The firm had revenue of $209.64 million for the quarter, compared to the consensus estimate of $186.63 million. During the same quarter in the prior year, the company posted $1.25 earnings per share. The business’s revenue was up 20.4% on a year-over-year basis. As a group, equities analysts forecast that Royal Gold, Inc. will post 6.2 earnings per share for the current fiscal year.

Royal Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Friday, October 3rd will be issued a dividend of $0.45 per share. The ex-dividend date is Friday, October 3rd. This represents a $1.80 annualized dividend and a yield of 1.0%. Royal Gold’s dividend payout ratio is presently 26.39%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on RGLD. CIBC upped their price objective on shares of Royal Gold from $202.00 to $215.00 and gave the company a “neutral” rating in a research note on Thursday, May 8th. Wall Street Zen lowered shares of Royal Gold from a “buy” rating to a “hold” rating in a research note on Saturday, August 16th. Canaccord Genuity Group boosted their target price on shares of Royal Gold from $202.00 to $203.00 in a research report on Wednesday, June 11th. TD Securities reiterated a “buy” rating and set a $237.00 target price (up previously from $229.00) on shares of Royal Gold in a research report on Friday, August 8th. Finally, Zacks Research downgraded shares of Royal Gold from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 19th. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $198.63.

About Royal Gold

Royal Gold, Inc, together with its subsidiaries, acquires and manages precious metal streams, royalties, and related interests. The company engages in acquiring stream and royalty interests or to finance projects that are in production, development, or in the exploration stage in exchange for stream or royalty interests, which primarily consists of gold, silver, copper, nickel, zinc, lead, and other metals.