Granite Investment Partners LLC raised its position in shares of Royal Gold, Inc (NASDAQ:RGLD) (TSE:RGL) by 23.0% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 15,108 shares of the basic materials company’s stock after purchasing an additional 2,828 shares during the period. Granite Investment Partners LLC’s holdings in Royal Gold were worth $1,374,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in RGLD. Cordasco Financial Network increased its holdings in Royal Gold by 72.4% in the 1st quarter. Cordasco Financial Network now owns 293 shares of the basic materials company’s stock worth $27,000 after buying an additional 123 shares in the last quarter. Rockefeller Capital Management L.P. bought a new stake in Royal Gold in the 1st quarter worth about $27,000. JOYN Advisors Inc. increased its holdings in Royal Gold by 105.4% in the 4th quarter. JOYN Advisors Inc. now owns 341 shares of the basic materials company’s stock worth $29,000 after buying an additional 175 shares in the last quarter. Quadrant Capital Group LLC increased its holdings in Royal Gold by 762.8% in the 1st quarter. Quadrant Capital Group LLC now owns 811 shares of the basic materials company’s stock worth $71,000 after buying an additional 717 shares in the last quarter. Finally, Versant Capital Management Inc increased its holdings in Royal Gold by 18.6% in the 1st quarter. Versant Capital Management Inc now owns 848 shares of the basic materials company’s stock worth $77,000 after buying an additional 133 shares in the last quarter. 79.88% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts recently commented on the company. BidaskClub downgraded Royal Gold from a “hold” rating to a “sell” rating in a report on Tuesday, April 23rd. Royal Bank of Canada downgraded Royal Gold from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $104.00 to $100.00 in a report on Monday, May 13th. They noted that the move was a valuation call. TheStreet upgraded Royal Gold from a “c+” rating to a “b-” rating in a report on Friday, June 7th. Raymond James reiterated an “outperform” rating and issued a $98.00 price objective on shares of Royal Gold in a report on Friday, May 3rd. Finally, B. Riley upgraded Royal Gold from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $86.00 to $100.00 in a report on Monday, April 1st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $95.95.
Shares of Royal Gold stock traded up $1.42 during trading hours on Wednesday, reaching $93.82. 18,075 shares of the stock traded hands, compared to its average volume of 424,971. The company has a market cap of $6.11 billion, a P/E ratio of 53.30, a P/E/G ratio of 6.18 and a beta of 0.12. Royal Gold, Inc has a one year low of $70.16 and a one year high of $98.53. The company has a quick ratio of 5.13, a current ratio of 5.39 and a debt-to-equity ratio of 0.17.
Royal Gold (NASDAQ:RGLD) (TSE:RGL) last released its quarterly earnings results on Wednesday, May 1st. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.45 by ($0.01). The firm had revenue of $109.80 million for the quarter, compared to the consensus estimate of $115.32 million. Royal Gold had a net margin of 22.19% and a return on equity of 4.36%. The company’s revenue for the quarter was down 5.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.48 earnings per share. Research analysts anticipate that Royal Gold, Inc will post 1.53 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, July 19th. Shareholders of record on Friday, July 5th will be paid a dividend of $0.265 per share. The ex-dividend date is Wednesday, July 3rd. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.13%. Royal Gold’s dividend payout ratio is currently 60.23%.
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Royal Gold Company Profile
Royal Gold, Inc, together with its subsidiaries, acquires and manages precious metal streams, royalties, and related interests. It focuses on acquiring stream and royalty interests or to finance projects that are in production or in development stage in exchange for stream or royalty interests, which primarily consists of gold, silver, copper, nickel, zinc, lead, cobalt, and molybdenum.
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