Royal Gold, Inc. (NASDAQ:RGLD) Shares Purchased by State of New Jersey Common Pension Fund D
State of New Jersey Common Pension Fund D boosted its position in Royal Gold, Inc. (NASDAQ:RGLD – Get Rating) (TSE:RGL) by 10.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 40,992 shares of the basic materials company’s stock after purchasing an additional 3,814 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.06% of Royal Gold worth $3,846,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently added to or reduced their stakes in the company. National Bank of Canada FI raised its stake in Royal Gold by 280.0% in the 2nd quarter. National Bank of Canada FI now owns 247 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 182 shares during the last quarter. Eagle Bay Advisors LLC acquired a new position in Royal Gold in the 2nd quarter valued at about $41,000. CoreCap Advisors LLC acquired a new position in Royal Gold in the 2nd quarter valued at about $51,000. 1832 Asset Management L.P. purchased a new stake in Royal Gold in the 1st quarter valued at about $51,000. Finally, Wipfli Financial Advisors LLC purchased a new stake in Royal Gold in the 3rd quarter valued at about $66,000. Institutional investors and hedge funds own 78.13% of the company’s stock.
Insiders Place Their Bets
In other Royal Gold news, CFO Paul Libner sold 250 shares of the company’s stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $115.00, for a total value of $28,750.00. Following the transaction, the chief financial officer now directly owns 14,265 shares of the company’s stock, valued at approximately $1,640,475. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.38% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
Several analysts have commented on the company. Credit Suisse Group assumed coverage on Royal Gold in a report on Monday, December 12th. They issued a “neutral” rating and a $120.00 price target for the company. StockNews.com upgraded Royal Gold from a “sell” rating to a “hold” rating in a report on Thursday, December 1st. Raymond James lifted their price target on Royal Gold from $138.00 to $140.00 and gave the company an “outperform” rating in a report on Friday, January 6th. National Bankshares lifted their price target on Royal Gold from $120.00 to $150.00 and gave the company a “sector perform” rating in a report on Friday. Finally, Barclays decreased their target price on Royal Gold from $110.00 to $108.00 and set an “equal weight” rating for the company in a report on Monday, October 17th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Royal Gold currently has an average rating of “Moderate Buy” and an average price target of $138.09.
Royal Gold Stock Up 1.5 %
NASDAQ RGLD opened at $128.65 on Friday. The stock has a market cap of $8.44 billion, a PE ratio of 33.68, a P/E/G ratio of 3.47 and a beta of 0.62. Royal Gold, Inc. has a fifty-two week low of $84.54 and a fifty-two week high of $147.70. The business has a 50 day moving average price of $111.43 and a two-hundred day moving average price of $102.73. The company has a quick ratio of 2.61, a current ratio of 2.82 and a debt-to-equity ratio of 0.16.
Royal Gold (NASDAQ:RGLD – Get Rating) (TSE:RGL) last released its quarterly earnings results on Wednesday, November 2nd. The basic materials company reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.01). The company had revenue of $131.43 million during the quarter. Royal Gold had a return on equity of 8.84% and a net margin of 41.19%. As a group, sell-side analysts predict that Royal Gold, Inc. will post 3.26 EPS for the current fiscal year.
Royal Gold Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, January 20th. Shareholders of record on Friday, January 6th will be issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend is Thursday, January 5th. This is a boost from Royal Gold’s previous quarterly dividend of $0.35. Royal Gold’s dividend payout ratio is currently 39.27%.
About Royal Gold
Royal Gold, Inc, together with its subsidiaries, acquires and manages precious metal streams, royalties, and related interests. It focuses on acquiring stream and royalty interests or to finance projects that are in production or in development stage in exchange for stream or royalty interests, which primarily consists of gold, silver, copper, nickel, zinc, lead, and cobalt.
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