Public Employees Retirement System of Ohio Invests $9.39 Million in Royal Gold, Inc. $RGLD

Public Employees Retirement System of Ohio acquired a new position in shares of Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) in the second quarter, HoldingsChannel reports. The fund acquired 47,043 shares of the basic materials company’s stock, valued at approximately $9,390,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Goldman Sachs Group Inc. grew its position in shares of Royal Gold by 99.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 168,846 shares of the basic materials company’s stock worth $27,608,000 after buying an additional 84,206 shares during the period. Focus Partners Wealth raised its position in shares of Royal Gold by 51.5% in the 1st quarter. Focus Partners Wealth now owns 8,465 shares of the basic materials company’s stock valued at $1,384,000 after acquiring an additional 2,876 shares during the period. Brown Advisory Inc. boosted its stake in Royal Gold by 28.9% during the 2nd quarter. Brown Advisory Inc. now owns 3,551 shares of the basic materials company’s stock worth $631,000 after acquiring an additional 796 shares during the last quarter. Qube Research & Technologies Ltd boosted its stake in Royal Gold by 43.0% during the 2nd quarter. Qube Research & Technologies Ltd now owns 188,247 shares of the basic materials company’s stock worth $33,478,000 after acquiring an additional 56,621 shares during the last quarter. Finally, NewEdge Advisors LLC grew its holdings in Royal Gold by 4.6% during the second quarter. NewEdge Advisors LLC now owns 24,551 shares of the basic materials company’s stock valued at $4,366,000 after purchasing an additional 1,072 shares during the period. Institutional investors own 83.65% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on RGLD shares. UBS Group increased their target price on shares of Royal Gold from $280.00 to $285.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Royal Bank Of Canada decreased their price target on shares of Royal Gold from $310.00 to $305.00 and set an “outperform” rating for the company in a report on Thursday, July 9th. Weiss Ratings cut shares of Royal Gold from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, August 4th. Scotiabank reaffirmed a “sector perform” rating and set a $310.00 price objective on shares of Royal Gold in a research note on Tuesday, July 14th. Finally, Jefferies Financial Group reduced their target price on Royal Gold from $318.00 to $311.00 and set a “buy” rating on the stock in a report on Monday, July 6th. Seven equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $285.10.

Insider Buying and Selling

In related news, SVP Randy Shefman sold 500 shares of the company’s stock in a transaction on Friday, August 28th. The shares were sold at an average price of $262.80, for a total value of $131,400.00. Following the completion of the transaction, the senior vice president directly owned 8,082 shares of the company’s stock, valued at approximately $2,123,949.60. This represents a 5.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.35% of the company’s stock.

Royal Gold Price Performance

NASDAQ RGLD opened at $261.47 on Tuesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.68 and a current ratio of 2.92. The stock has a market cap of $22.15 billion, a price-to-earnings ratio of 28.54, a PEG ratio of 1.98 and a beta of 0.44. The business has a 50 day simple moving average of $215.99 and a 200 day simple moving average of $236.28. Royal Gold, Inc. has a 52-week low of $168.88 and a 52-week high of $306.25.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last announced its quarterly earnings results on Wednesday, August 5th. The basic materials company reported $2.56 earnings per share for the quarter, beating analysts’ consensus estimates of $2.55 by $0.01. The firm had revenue of $468.98 million for the quarter, compared to analyst estimates of $458.85 million. Royal Gold had a net margin of 47.74% and a return on equity of 12.06%. The business’s revenue was up 114.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.81 earnings per share. Analysts anticipate that Royal Gold, Inc. will post 10.26 earnings per share for the current fiscal year.

Royal Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Friday, October 2nd will be given a $0.475 dividend. This represents a $1.90 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Friday, October 2nd. Royal Gold’s payout ratio is currently 20.74%.

About Royal Gold

Royal Gold, Inc, headquartered in Denver, Colorado, is a leading precious metals streaming and royalty company. Through its business model, Royal Gold provides upfront financing to mining operators in exchange for the right to purchase a percentage of future metal production at predetermined prices. This structure allows the company to participate in production upside while minimizing exposure to the operating and capital-intensive aspects of mine ownership.

The company’s portfolio encompasses interests in over 200 streams and royalties on projects across North America, South America, Europe, Africa and Australia.