New Mexico Educational Retirement Board Raises Stock Holdings in Royal Gold, Inc. $RGLD

New Mexico Educational Retirement Board increased its position in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 24.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,700 shares of the basic materials company’s stock after buying an additional 3,300 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Royal Gold were worth $3,712,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Ellevest Inc. increased its stake in shares of Royal Gold by 337.2% in the fourth quarter. Ellevest Inc. now owns 4,490 shares of the basic materials company’s stock worth $998,000 after buying an additional 3,463 shares during the period. Clear Harbor Asset Management LLC purchased a new position in shares of Royal Gold in the fourth quarter worth $1,251,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Royal Gold by 20.0% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 20,275 shares of the basic materials company’s stock worth $4,507,000 after buying an additional 3,380 shares during the period. Cherry Tree Wealth Management LLC purchased a new position in Royal Gold during the 4th quarter valued at $166,000. Finally, Norges Bank purchased a new position in Royal Gold during the 4th quarter valued at $29,803,000. 83.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Royal Gold in a research report on Tuesday, April 21st. National Bank Financial reduced their price objective on shares of Royal Gold from $350.00 to $340.00 and set an “outperform” rating on the stock in a research report on Friday, April 17th. UBS Group set a $325.00 price objective on shares of Royal Gold and gave the company a “buy” rating in a research report on Wednesday, April 15th. Canadian Imperial Bank of Commerce reissued a “neutral” rating and set a $330.00 price objective on shares of Royal Gold in a research report on Wednesday, February 4th. Finally, Zacks Research downgraded shares of Royal Gold from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 5th. Eight investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $273.64.

Insider Transactions at Royal Gold

In related news, Director Mark Isto sold 2,000 shares of the company’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $274.83, for a total value of $549,660.00. Following the transaction, the director owned 20,043 shares in the company, valued at $5,508,417.69. The trade was a 9.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Randy Shefman sold 1,000 shares of the company’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $243.74, for a total transaction of $243,740.00. Following the completion of the transaction, the senior vice president owned 9,082 shares in the company, valued at approximately $2,213,646.68. The trade was a 9.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.35% of the company’s stock.

Royal Gold Stock Performance

Shares of Royal Gold stock opened at $217.86 on Tuesday. The stock has a market cap of $18.49 billion, a price-to-earnings ratio of 25.97, a PEG ratio of 1.67 and a beta of 0.42. The firm’s 50-day moving average is $242.13 and its 200 day moving average is $244.35. Royal Gold, Inc. has a 1 year low of $150.75 and a 1 year high of $306.25. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.52 and a quick ratio of 3.26.

Royal Gold Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 16th. Investors of record on Thursday, July 2nd will be paid a $0.475 dividend. The ex-dividend date is Thursday, July 2nd. This represents a $1.90 dividend on an annualized basis and a yield of 0.9%. Royal Gold’s payout ratio is presently 22.65%.

Royal Gold Company Profile

Royal Gold, Inc, headquartered in Denver, Colorado, is a leading precious metals streaming and royalty company. Through its business model, Royal Gold provides upfront financing to mining operators in exchange for the right to purchase a percentage of future metal production at predetermined prices. This structure allows the company to participate in production upside while minimizing exposure to the operating and capital-intensive aspects of mine ownership.

The company’s portfolio encompasses interests in over 200 streams and royalties on projects across North America, South America, Europe, Africa and Australia.