NorthRock Partners LLC Has $444,000 Stake in Royal Gold, Inc. $RGLD

NorthRock Partners LLC grew its position in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 57.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,499 shares of the basic materials company’s stock after purchasing an additional 913 shares during the period. NorthRock Partners LLC’s holdings in Royal Gold were worth $444,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. WPG Advisers LLC acquired a new stake in Royal Gold in the 1st quarter valued at approximately $27,000. Alpine Bank Wealth Management acquired a new stake in shares of Royal Gold in the first quarter valued at approximately $32,000. Blue Trust Inc. lifted its position in shares of Royal Gold by 56.8% in the second quarter. Blue Trust Inc. now owns 196 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 71 shares in the last quarter. Banque Cantonale Vaudoise bought a new stake in shares of Royal Gold in the first quarter worth $34,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in Royal Gold during the first quarter worth $40,000. 83.65% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on RGLD shares. Wall Street Zen raised shares of Royal Gold from a “hold” rating to a “buy” rating in a research report on Saturday, August 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of Royal Gold in a report on Wednesday, October 8th. CIBC raised their price target on Royal Gold from $225.00 to $250.00 and gave the company a “neutral” rating in a research note on Friday, October 10th. Zacks Research lowered shares of Royal Gold from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 19th. Finally, TD Securities reissued a “buy” rating and set a $237.00 target price (up from $229.00) on shares of Royal Gold in a report on Friday, August 8th. Six analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $203.00.

Royal Gold Stock Performance

Shares of NASDAQ RGLD opened at $202.24 on Thursday. The stock has a market capitalization of $13.31 billion, a P/E ratio of 29.65, a PEG ratio of 1.58 and a beta of 0.41. The stock’s fifty day moving average is $185.82 and its 200 day moving average is $176.74. Royal Gold, Inc. has a 52 week low of $130.67 and a 52 week high of $206.49.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last announced its quarterly earnings data on Wednesday, August 6th. The basic materials company reported $1.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.70 by $0.11. Royal Gold had a net margin of 56.24% and a return on equity of 13.30%. The firm had revenue of $209.64 million for the quarter, compared to the consensus estimate of $186.63 million. During the same period in the prior year, the company posted $1.25 earnings per share. The business’s revenue for the quarter was up 20.4% on a year-over-year basis. Equities research analysts forecast that Royal Gold, Inc. will post 6.2 earnings per share for the current year.

Royal Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Friday, October 3rd will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 0.9%. The ex-dividend date is Friday, October 3rd. Royal Gold’s payout ratio is currently 26.39%.

Royal Gold Company 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.