Rhumbline Advisers Boosts Stock Position in Royal Gold, Inc. (NASDAQ:RGLD)

Rhumbline Advisers increased its stake in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 5.6% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 189,078 shares of the basic materials company’s stock after buying an additional 10,049 shares during the period. Rhumbline Advisers owned 0.29% of Royal Gold worth $30,916,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in RGLD. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Royal Gold in the 4th quarter worth approximately $42,000. Jones Financial Companies Lllp lifted its position in Royal Gold by 390.7% in the 4th quarter. Jones Financial Companies Lllp now owns 368 shares of the basic materials company’s stock valued at $49,000 after acquiring an additional 293 shares in the last quarter. IFP Advisors Inc lifted its position in Royal Gold by 66.7% in the 4th quarter. IFP Advisors Inc now owns 395 shares of the basic materials company’s stock valued at $52,000 after acquiring an additional 158 shares in the last quarter. Human Investing LLC bought a new position in Royal Gold in the 4th quarter valued at approximately $73,000. Finally, Blue Trust Inc. lifted its position in Royal Gold by 40.3% in the 4th quarter. Blue Trust Inc. now owns 574 shares of the basic materials company’s stock valued at $81,000 after acquiring an additional 165 shares in the last quarter. Hedge funds and other institutional investors own 83.65% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on RGLD. Scotiabank raised Royal Gold from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the company from $166.00 to $189.00 in a research report on Monday, April 14th. Royal Bank of Canada lowered their price objective on Royal Gold from $175.00 to $170.00 and set an “outperform” rating on the stock in a research report on Friday, April 4th. CIBC upped their price objective on Royal Gold from $202.00 to $215.00 and gave the company a “neutral” rating in a research report on Thursday, May 8th. BMO Capital Markets set a $197.00 price objective on Royal Gold and gave the company a “market perform” rating in a research report on Thursday, May 22nd. Finally, Wall Street Zen raised Royal Gold from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Royal Gold currently has a consensus rating of “Moderate Buy” and an average price target of $183.13.

Royal Gold Price Performance

NASDAQ RGLD opened at $183.94 on Thursday. The business’s fifty day moving average price is $175.78 and its 200-day moving average price is $155.55. The stock has a market capitalization of $12.11 billion, a price-to-earnings ratio of 36.50, a PEG ratio of 3.42 and a beta of 0.44. Royal Gold, Inc. has a 1-year low of $119.72 and a 1-year high of $191.78.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last announced its earnings results on Wednesday, May 7th. The basic materials company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.14. Royal Gold had a return on equity of 11.46% and a net margin of 46.15%. The company had revenue of $193.44 million for the quarter, compared to analysts’ expectations of $176.17 million. During the same period last year, the firm earned $0.91 EPS. Royal Gold’s revenue for the quarter was up 29.9% compared to the same quarter last year. Equities research analysts anticipate that Royal Gold, Inc. will post 6.2 EPS for the current year.

Royal Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 17th. Shareholders of record on Thursday, July 3rd will be paid a $0.45 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $1.80 dividend on an annualized basis and a yield of 0.98%. Royal Gold’s payout ratio is presently 29.80%.

Insiders Place Their Bets

In other Royal Gold news, SVP Randy Shefman sold 1,300 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $154.98, for a total value of $201,474.00. Following the completion of the sale, the senior vice president now owns 9,360 shares in the company, valued at approximately $1,450,612.80. This represents a 12.20% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.49% of the stock is currently owned by company insiders.

Royal Gold Profile

Royal Gold, Inc, together with its subsidiaries, acquires and manages precious metal streams, royalties, and related interests. The company engages in acquiring stream and royalty interests or to finance projects that are in production, development, or in the exploration stage in exchange for stream or royalty interests, which primarily consists of gold, silver, copper, nickel, zinc, lead, and other metals.