Northwestern Mutual Investment Management Company LLC increased its position in shares of Royal Gold, Inc (NASDAQ:RGLD) (TSE:RGL) by 21.7% in the 1st quarter, Holdings Channel reports. The firm owned 22,793 shares of the basic materials company’s stock after purchasing an additional 4,059 shares during the period. Northwestern Mutual Investment Management Company LLC’s holdings in Royal Gold were worth $1,999,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of RGLD. Norges Bank purchased a new stake in shares of Royal Gold during the fourth quarter worth approximately $74,258,000. Acadian Asset Management LLC increased its position in shares of Royal Gold by 40.7% during the fourth quarter. Acadian Asset Management LLC now owns 765,277 shares of the basic materials company’s stock worth $93,552,000 after purchasing an additional 221,181 shares in the last quarter. Bank of America Corp DE increased its position in shares of Royal Gold by 53.2% during the fourth quarter. Bank of America Corp DE now owns 471,826 shares of the basic materials company’s stock worth $57,680,000 after purchasing an additional 163,851 shares in the last quarter. MERIAN GLOBAL INVESTORS UK Ltd purchased a new stake in shares of Royal Gold during the first quarter worth approximately $11,894,000. Finally, Oxbow Advisors LLC increased its position in shares of Royal Gold by 1,032.9% during the first quarter. Oxbow Advisors LLC now owns 118,895 shares of the basic materials company’s stock worth $10,428,000 after purchasing an additional 108,400 shares in the last quarter. Hedge funds and other institutional investors own 78.81% of the company’s stock.
Several brokerages recently commented on RGLD. BidaskClub upgraded Royal Gold from a “hold” rating to a “buy” rating in a research report on Friday, April 24th. Barclays upgraded Royal Gold from an “underweight” rating to an “equal weight” rating and set a $105.00 target price for the company in a report on Thursday, April 16th. Royal Bank of Canada upgraded Royal Gold from an “underperform” rating to a “sector perform” rating and upped their target price for the company from $90.00 to $115.00 in a report on Friday, May 15th. B. Riley upped their target price on Royal Gold from $150.00 to $151.00 and gave the company a “buy” rating in a report on Tuesday. Finally, National Bank Financial upped their target price on Royal Gold from $122.50 to $147.50 and gave the company a “sector perform” rating in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $127.15.
Shares of Royal Gold stock opened at $136.96 on Friday. Royal Gold, Inc has a 52 week low of $59.78 and a 52 week high of $139.63. The business’s fifty day simple moving average is $118.01 and its 200-day simple moving average is $110.87. The firm has a market cap of $8.97 billion, a PE ratio of 57.94, a price-to-earnings-growth ratio of 5.63 and a beta of 0.81. The company has a quick ratio of 2.78, a current ratio of 3.02 and a debt-to-equity ratio of 0.04.
Royal Gold (NASDAQ:RGLD) (TSE:RGL) last announced its quarterly earnings results on Wednesday, May 6th. The basic materials company reported $0.68 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.01. Royal Gold had a return on equity of 6.93% and a net margin of 35.75%. The business had revenue of $136.40 million for the quarter, compared to analyst estimates of $133.59 million. During the same quarter in the prior year, the company posted $0.44 EPS. The company’s quarterly revenue was up 24.2% on a year-over-year basis. As a group, equities analysts expect that Royal Gold, Inc will post 2.43 earnings per share for the current year.
Royal Gold 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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