Price T Rowe Associates Inc. MD Has $74.28 Million Stake in Royal Gold, Inc. (NASDAQ:RGLD)

Price T Rowe Associates Inc. MD lifted its holdings in shares of Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 224.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 609,760 shares of the basic materials company’s stock after purchasing an additional 422,026 shares during the quarter. Price T Rowe Associates Inc. MD owned 0.93% of Royal Gold worth $74,276,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of RGLD. Van ECK Associates Corp raised its holdings in Royal Gold by 6.8% during the 1st quarter. Van ECK Associates Corp now owns 4,595,734 shares of the basic materials company’s stock worth $559,807,000 after buying an additional 292,357 shares during the period. Norges Bank bought a new stake in Royal Gold in the 4th quarter valued at $33,696,000. International Assets Investment Management LLC increased its holdings in Royal Gold by 12,032.4% during the 4th quarter. International Assets Investment Management LLC now owns 183,685 shares of the basic materials company’s stock worth $22,219,000 after purchasing an additional 182,171 shares in the last quarter. Global Assets Advisory LLC acquired a new stake in shares of Royal Gold in the 1st quarter valued at about $20,675,000. Finally, Barlow Wealth Partners Inc. bought a new stake in shares of Royal Gold in the fourth quarter valued at about $12,733,000. Institutional investors own 83.65% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on RGLD shares. Jefferies Financial Group lifted their target price on Royal Gold from $130.00 to $141.00 and gave the company a “hold” rating in a research report on Friday, July 12th. Scotiabank boosted their price objective on shares of Royal Gold from $144.00 to $148.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 23rd. Bank of America raised their target price on shares of Royal Gold from $129.00 to $131.00 and gave the company an “underperform” rating in a research report on Wednesday, June 26th. CIBC boosted their price target on shares of Royal Gold from $166.00 to $175.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 10th. Finally, Cibc World Mkts upgraded Royal Gold to a “hold” rating in a report on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $152.75.

Insider Buying and Selling at Royal Gold

In other news, SVP Daniel Breeze sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $130.73, for a total transaction of $196,095.00. Following the completion of the sale, the senior vice president now owns 14,840 shares in the company, valued at approximately $1,940,033.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.52% of the company’s stock.

Royal Gold Stock Up 0.4 %

Shares of RGLD stock opened at $135.65 on Tuesday. Royal Gold, Inc. has a 52-week low of $100.55 and a 52-week high of $140.95. The stock has a market cap of $8.92 billion, a price-to-earnings ratio of 40.01, a PEG ratio of 1.09 and a beta of 0.87. The firm’s 50-day moving average is $129.49 and its 200-day moving average is $121.27. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.35 and a current ratio of 2.50.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last released its quarterly earnings data on Wednesday, May 8th. The basic materials company reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.04). Royal Gold had a net margin of 38.12% and a return on equity of 7.96%. The business had revenue of $148.90 million during the quarter, compared to the consensus estimate of $147.02 million. During the same quarter in the prior year, the company earned $0.96 EPS. Royal Gold’s quarterly revenue was down 12.6% on a year-over-year basis. Sell-side analysts predict that Royal Gold, Inc. will post 4.69 EPS for the current year.

Royal Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 19th. Shareholders of record on Friday, July 5th were given a dividend of $0.40 per share. The ex-dividend date was Friday, July 5th. This represents a $1.60 dividend on an annualized basis and a yield of 1.18%. Royal Gold’s dividend payout ratio (DPR) is 47.20%.

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.