Swedbank AB Takes Position in Royal Gold, Inc. (NASDAQ:RGLD)

Swedbank AB bought a new stake in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor bought 80,157 shares of the basic materials company’s stock, valued at approximately $11,246,000. Swedbank AB owned 0.12% of Royal Gold as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of RGLD. Kingsview Wealth Management LLC increased its position in Royal Gold by 2.5% during the third quarter. Kingsview Wealth Management LLC now owns 63,241 shares of the basic materials company’s stock worth $8,873,000 after buying an additional 1,530 shares during the last quarter. Cerity Partners LLC lifted its holdings in shares of Royal Gold by 114.5% during the third quarter. Cerity Partners LLC now owns 32,268 shares of the basic materials company’s stock worth $4,527,000 after buying an additional 17,227 shares in the last quarter. Citigroup Inc. boosted its holdings in Royal Gold by 92.4% in the 3rd quarter. Citigroup Inc. now owns 44,790 shares of the basic materials company’s stock valued at $6,284,000 after purchasing an additional 21,510 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Royal Gold by 0.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 479,140 shares of the basic materials company’s stock valued at $67,223,000 after buying an additional 1,641 shares during the period. Finally, Advisors Asset Management Inc. acquired a new stake in shares of Royal Gold during the 3rd quarter worth $38,000. 83.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RGLD has been the topic of a number of recent analyst reports. TD Securities lifted their price objective on shares of Royal Gold from $181.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Jefferies Financial Group upped their price target on shares of Royal Gold from $141.00 to $154.00 and gave the company a “hold” rating in a research report on Friday, October 4th. StockNews.com upgraded Royal Gold from a “hold” rating to a “buy” rating in a research report on Thursday, September 19th. Raymond James boosted their target price on shares of Royal Gold from $184.00 to $186.00 and gave the company an “outperform” rating in a report on Monday, November 11th. Finally, Scotiabank boosted their price target on Royal Gold from $148.00 to $157.00 and gave the company a “sector perform” rating in a research note on Monday, August 19th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Royal Gold currently has an average rating of “Hold” and a consensus price target of $165.43.

Insider Transactions at Royal Gold

In other Royal Gold news, CFO Paul Libner sold 1,500 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $142.53, for a total value of $213,795.00. Following the completion of the sale, the chief financial officer now directly owns 18,657 shares of the company’s stock, valued at approximately $2,659,182.21. This represents a 7.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Daniel Breeze sold 840 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $143.43, for a total transaction of $120,481.20. Following the completion of the sale, the senior vice president now owns 16,842 shares of the company’s stock, valued at approximately $2,415,648.06. This trade represents a 4.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,324 shares of company stock valued at $626,023 over the last ninety days. 0.52% of the stock is currently owned by insiders.

Royal Gold Stock Performance

Shares of NASDAQ:RGLD opened at $146.31 on Wednesday. The firm has a market cap of $9.62 billion, a P/E ratio of 33.56, a PEG ratio of 1.19 and a beta of 0.90. The business’s 50 day simple moving average is $145.08 and its two-hundred day simple moving average is $136.73. Royal Gold, Inc. has a 52-week low of $100.55 and a 52-week high of $155.10.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last issued its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $1.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.13. The firm had revenue of $193.84 million during the quarter, compared to analysts’ expectations of $184.12 million. Royal Gold had a net margin of 42.93% and a return on equity of 10.18%. The business’s revenue was up 39.8% on a year-over-year basis. During the same period last year, the company earned $0.76 earnings per share. On average, equities analysts forecast that Royal Gold, Inc. will post 5.13 earnings per share for the current fiscal year.

Royal Gold Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Friday, January 3rd will be issued a dividend of $0.45 per share. This is a positive change from Royal Gold’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend is Friday, January 3rd. Royal Gold’s payout ratio is currently 36.70%.

Royal Gold Profile

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.