Essex Investment Management Co. LLC increased its position in shares of Royal Gold Inc. (NASDAQ:RGLD) by 321.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 61,756 shares of the company’s stock after buying an additional 47,106 shares during the period. Essex Investment Management Co. LLC’s holdings in Royal Gold were worth $4,448,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Meeder Asset Management Inc. raised its stake in 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 during the last quarter. LS Investment Advisors LLC raised its stake in Royal Gold by 73.2% in the second quarter. LS Investment Advisors LLC now owns 3,948 shares of the company’s stock worth $284,000 after buying an additional 1,668 shares during the last quarter. Confluence Investment Management LLC raised its stake in Royal Gold by 14.9% in the second quarter. Confluence Investment Management LLC now owns 5,146 shares of the company’s stock worth $371,000 after buying an additional 666 shares during the last quarter. Oakbrook Investments LLC acquired a new stake in Royal Gold during the second quarter worth about $403,000. Finally, IBM Retirement Fund raised its stake in Royal Gold by 1.5% in the second quarter. IBM Retirement Fund now owns 6,568 shares of the company’s stock worth $473,000 after buying an additional 96 shares during the last quarter. Institutional investors own 69.02% of the company’s stock.
Shares of Royal Gold Inc. (NASDAQ:RGLD) traded up 1.98% during midday trading on Wednesday, hitting $79.65. The stock had a trading volume of 649,135 shares. The firm’s market capitalization is $5.20 billion. Royal Gold Inc. has a 1-year low of $24.68 and a 1-year high of $87.74. The company’s 50 day moving average price is $79.83 and its 200-day moving average price is $67.87.
Royal Gold (NASDAQ:RGLD) last issued its earnings results on Wednesday, August 10th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.33 by $0.01. The firm earned $94.10 million during the quarter, compared to the consensus estimate of $100.62 million. Royal Gold had a negative net margin of 21.44% and a positive return on equity of 2.81%. The firm’s revenue for the quarter was up 27.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.23 earnings per share. Equities analysts predict that Royal Gold Inc. will post $1.87 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be issued a $0.23 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.16%. Royal Gold’s payout ratio is -77.97%.
Several analysts recently issued reports on the company. Zacks Investment Research upgraded Royal Gold from a “hold” rating to a “buy” rating and set a $79.00 price objective for the company in a report on Thursday, June 30th. National Bank Financial upgraded Royal Gold from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $72.00 to $85.00 in a report on Wednesday, July 6th. Royal Bank Of Canada reiterated an “outperform” rating and set a $84.00 price objective on shares of Royal Gold in a report on Monday, June 13th. FBR & Co set a $80.00 price objective on Royal Gold and gave the stock a “hold” rating in a report on Tuesday, September 20th. Finally, RBC Capital Markets reiterated an “outperform” rating on shares of Royal Gold in a report on Tuesday, September 20th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the stock. Royal Gold presently has an average rating of “Buy” and a consensus price target of $72.29.
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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