Principal Financial Group Inc. raised its stake in shares of Royal Gold Inc. (NASDAQ:RGLD) by 11.7% during the second quarter, according to its most recent filing with the SEC. The fund owned 242,518 shares of the company’s stock after buying an additional 25,362 shares during the period. Principal Financial Group Inc. owned about 0.37% of Royal Gold worth $17,466,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in RGLD. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Royal Gold by 14.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,669 shares of the company’s stock valued at $120,000 after buying an additional 208 shares during the period. Meeder Asset Management Inc. boosted its position 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 valued at $144,000 after buying an additional 1,991 shares during the period. PNC Financial Services Group Inc. boosted its position in Royal Gold by 1.0% in the second quarter. PNC Financial Services Group Inc. now owns 2,184 shares of the company’s stock valued at $157,000 after buying an additional 22 shares during the period. World Asset Management Inc acquired a new position in Royal Gold during the second quarter valued at $230,000. Finally, Symons Capital Management Inc. acquired a new position in Royal Gold during the second quarter valued at $234,000. Institutional investors and hedge funds own 68.97% of the company’s stock.
Shares of Royal Gold Inc. (NASDAQ:RGLD) traded up 0.2912% on Wednesday, hitting $68.8399. The stock had a trading volume of 97,933 shares. Royal Gold Inc. has a 52 week low of $24.68 and a 52 week high of $87.74. The company’s market capitalization is $4.49 billion. The company has a 50-day moving average of $78.62 and a 200 day moving average of $68.83.
Royal Gold (NASDAQ:RGLD) last posted its quarterly earnings data on Wednesday, August 10th. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.33 by $0.01. The company earned $94.10 million during the quarter, compared to analysts’ expectations of $100.62 million. Royal Gold had a positive return on equity of 2.81% and a negative net margin of 21.44%. The company’s revenue for the quarter was up 27.9% on a year-over-year basis. During the same quarter last year, the company earned $0.23 earnings per share. On average, equities research analysts predict that Royal Gold Inc. will post $1.87 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.92 annualized dividend and a dividend yield of 1.34%. Royal Gold’s dividend payout ratio (DPR) is -77.97%.
Several research firms have recently weighed in on RGLD. Zacks Investment Research upgraded Royal Gold from a “hold” rating to a “buy” rating and set a $79.00 price objective on the stock in a report on Thursday, June 30th. National Bank Financial upgraded Royal Gold from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company 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 target price on Royal Gold and gave the company a “hold” rating in a research report on Tuesday, September 20th. Finally, RBC Capital Markets reissued an “outperform” rating on shares of Royal Gold in a research report on Tuesday, September 20th. One analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $72.29.
Royal Gold Company Profile
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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