State of New Jersey Common Pension Fund D Increases Stock Position in Royal Gold, Inc. $RGLD

State of New Jersey Common Pension Fund D raised its holdings in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 34.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 32,438 shares of the basic materials company’s stock after purchasing an additional 8,379 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Royal Gold were worth $7,211,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of RGLD. Vermillion & White Wealth Management Group LLC purchased a new position in shares of Royal Gold during the 3rd quarter worth approximately $29,000. Trust Co. of Toledo NA OH purchased a new position in shares of Royal Gold during the 4th quarter worth approximately $30,000. V Square Quantitative Management LLC purchased a new position in shares of Royal Gold during the 4th quarter worth approximately $30,000. Bank & Trust Co increased its stake in shares of Royal Gold by 600.0% during the 4th quarter. Bank & Trust Co now owns 140 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 120 shares in the last quarter. Finally, Sunbelt Securities Inc. increased its stake in shares of Royal Gold by 8,400.0% during the 3rd quarter. Sunbelt Securities Inc. now owns 170 shares of the basic materials company’s stock worth $34,000 after purchasing an additional 168 shares in the last quarter. 83.65% of the stock is owned by hedge funds and other institutional investors.

Royal Gold Stock Performance

Shares of NASDAQ RGLD opened at $230.59 on Friday. The company has a market cap of $19.56 billion, a PE ratio of 33.86, a price-to-earnings-growth ratio of 1.35 and a beta of 0.44. Royal Gold, Inc. has a 12 month low of $150.75 and a 12 month high of $306.25. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.12 and a quick ratio of 2.91. The company has a 50-day simple moving average of $260.65 and a 200-day simple moving average of $237.57.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last issued its quarterly earnings results on Wednesday, February 18th. The basic materials company reported $1.92 EPS for the quarter, missing analysts’ consensus estimates of $2.68 by ($0.76). The firm had revenue of $310.83 million for the quarter, compared to analysts’ expectations of $425.47 million. Royal Gold had a return on equity of 11.89% and a net margin of 45.26%.The business’s quarterly revenue was up 85.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.63 earnings per share. On average, equities analysts anticipate that Royal Gold, Inc. will post 12.5 earnings per share for the current year.

Royal Gold Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 16th. Stockholders of record on Thursday, April 2nd were issued a dividend of $0.475 per share. The ex-dividend date was Thursday, April 2nd. This represents a $1.90 dividend on an annualized basis and a dividend yield of 0.8%. Royal Gold’s payout ratio is 27.90%.

Insider Transactions at Royal Gold

In related news, SVP Daniel Breeze sold 1,400 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $300.87, for a total value of $421,218.00. Following the sale, the senior vice president directly owned 20,140 shares of the company’s stock, valued at approximately $6,059,521.80. This trade represents a 6.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark Isto sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $274.83, for a total transaction of $549,660.00. Following the completion of the sale, the director directly owned 20,043 shares in the company, valued at $5,508,417.69. This represents a 9.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 7,573 shares of company stock worth $2,127,091 over the last ninety days. 0.35% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. National Bank Financial dropped their price objective on shares of Royal Gold from $350.00 to $340.00 and set an “outperform” rating for the company in a research note on Friday, April 17th. Zacks Research cut shares of Royal Gold from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 17th. Canadian Imperial Bank of Commerce reissued a “neutral” rating and set a $330.00 price objective on shares of Royal Gold in a research note on Wednesday, February 4th. UBS Group set a $325.00 price objective on shares of Royal Gold and gave the stock a “buy” rating in a research note on Wednesday, April 15th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Royal Gold in a report on Tuesday, April 21st. Eight investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Royal Gold currently has a consensus rating of “Moderate Buy” and a consensus price target of $273.64.

Royal Gold Company Profile

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.