Point72 Hong Kong Ltd Takes $36,000 Position in Royal Gold, Inc. (NASDAQ:RGLD)

Point72 Hong Kong Ltd acquired a new position in shares of Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 258 shares of the basic materials company’s stock, valued at approximately $36,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of RGLD. Erste Asset Management GmbH purchased a new stake in Royal Gold during the 3rd quarter worth about $59,000. True Wealth Design LLC acquired a new stake in shares of Royal Gold during the 3rd quarter worth about $60,000. Caisse DE Depot ET Placement DU Quebec purchased a new stake in Royal Gold during the third quarter worth approximately $331,000. Verition Fund Management LLC boosted its holdings in Royal Gold by 213.1% in the third quarter. Verition Fund Management LLC now owns 8,051 shares of the basic materials company’s stock valued at $1,130,000 after purchasing an additional 5,480 shares in the last quarter. Finally, Captrust Financial Advisors increased its stake in Royal Gold by 175.8% in the third quarter. Captrust Financial Advisors now owns 4,026 shares of the basic materials company’s stock valued at $565,000 after purchasing an additional 2,566 shares during the last quarter. Institutional investors and hedge funds own 83.65% of the company’s stock.

Royal Gold Stock Up 0.7 %

Shares of RGLD stock opened at $148.37 on Wednesday. The stock has a market cap of $9.76 billion, a P/E ratio of 34.03, a P/E/G ratio of 1.08 and a beta of 0.89. Royal Gold, Inc. has a fifty-two week low of $100.55 and a fifty-two week high of $155.10. The business has a fifty day simple moving average of $145.61 and a 200-day simple moving average of $137.47.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last announced its earnings results on Wednesday, November 6th. The basic materials company reported $1.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.13. The company had revenue of $193.84 million during the quarter, compared to analysts’ expectations of $184.12 million. Royal Gold had a net margin of 42.93% and a return on equity of 10.18%. The firm’s quarterly revenue was up 39.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.76 earnings per share. On average, sell-side analysts anticipate that Royal Gold, Inc. will post 5.14 earnings per share for the current year.

Royal Gold Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Friday, January 3rd will be given a dividend of $0.45 per share. This is an increase from Royal Gold’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $1.80 annualized dividend and a yield of 1.21%. Royal Gold’s dividend payout ratio (DPR) is presently 36.70%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on RGLD shares. Raymond James boosted their price target on shares of Royal Gold from $184.00 to $186.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. Jefferies Financial Group lifted their target price on Royal Gold from $141.00 to $154.00 and gave the company a “hold” rating in a research note on Friday, October 4th. StockNews.com upgraded Royal Gold from a “hold” rating to a “buy” rating in a research note on Thursday, September 19th. Scotiabank boosted their price objective on shares of Royal Gold from $148.00 to $157.00 and gave the company a “sector perform” rating in a research note on Monday, August 19th. Finally, TD Securities raised their target price on shares of Royal Gold from $181.00 to $185.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $165.43.

Insider Transactions at Royal Gold

In other news, SVP Daniel Breeze sold 840 shares of Royal Gold stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $143.43, for a total transaction of $120,481.20. Following the completion of the sale, the senior vice president now directly owns 16,842 shares in the company, valued at $2,415,648.06. The trade was a 4.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director William M. Hayes sold 1,984 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $147.05, for a total value of $291,747.20. Following the transaction, the director now directly owns 9,268 shares in the company, valued at approximately $1,362,859.40. This represents a 17.63 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.52% of the company’s stock.

About Royal Gold

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.