Royal Gold, Inc. $RGLD Stock Purchased by Retirement Systems of Alabama

Retirement Systems of Alabama boosted its position in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 3.7% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 87,394 shares of the basic materials company’s stock after acquiring an additional 3,130 shares during the period. Retirement Systems of Alabama owned about 0.10% of Royal Gold worth $20,625,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Axiom Investment Management LLC acquired a new stake in shares of Royal Gold during the first quarter worth $25,000. Grove Bank & Trust grew its position in shares of Royal Gold by 88.6% in the second quarter. Grove Bank & Trust now owns 132 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 62 shares during the period. Eastern Bank increased its stake in Royal Gold by 622.2% in the third quarter. Eastern Bank now owns 130 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 112 shares during the last quarter. Scarborough Advisors LLC acquired a new position in Royal Gold in the first quarter valued at $32,000. Finally, Core Capital Management & Research inc. acquired a new position in Royal Gold in the second quarter valued at $32,000. 83.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RGLD has been the topic of several recent analyst reports. Zacks Research upgraded Royal Gold from a “strong sell” rating to a “hold” rating in a research report on Monday, September 7th. Royal Bank Of Canada lifted their price target on Royal Gold from $305.00 to $325.00 and gave the company an “outperform” rating in a report on Wednesday, September 16th. TD dropped their price objective on shares of Royal Gold from $315.00 to $311.00 and set a “buy” rating for the company in a research note on Tuesday, October 20th. Raymond James Financial set a $337.00 price objective on shares of Royal Gold in a research note on Friday, November 6th. Finally, UBS Group increased their price objective on shares of Royal Gold from $280.00 to $285.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Royal Gold currently has a consensus rating of “Moderate Buy” and a consensus target price of $309.67.

Royal Gold Stock Down 2.1%

Shares of RGLD opened at $268.84 on Thursday. The firm has a market cap of $22.73 billion, a PE ratio of 27.10, a price-to-earnings-growth ratio of 1.98 and a beta of 0.46. The company’s fifty day moving average is $245.32 and its two-hundred day moving average is $240.99. Royal Gold, Inc. has a fifty-two week low of $181.01 and a fifty-two week high of $306.25. The company has a quick ratio of 2.21, a current ratio of 2.40 and a debt-to-equity ratio of 0.02.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last announced its quarterly earnings data on Wednesday, November 4th. The basic materials company reported $2.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.03. The company had revenue of $464.77 million during the quarter, compared to analysts’ expectations of $459.84 million. Royal Gold had a net margin of 47.69% and a return on equity of 11.67%. The business’s quarterly revenue was up 84.4% compared to the same quarter last year. During the same period in the previous year, the company earned $2.06 EPS. Analysts forecast that Royal Gold, Inc. will post 10.71 earnings per share for the current year.

Royal Gold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 16th. Investors of record on Friday, October 2nd were issued a $0.4750 dividend. The ex-dividend date was Friday, October 2nd. This represents a $1.90 dividend on an annualized basis and a yield of 0.7%. Royal Gold’s dividend payout ratio (DPR) is presently 19.15%.

Insiders Place Their Bets

In related news, SVP Randy Shefman sold 500 shares of Royal Gold stock in a transaction on Friday, August 28th. The stock was sold at an average price of $262.80, for a total value of $131,400.00. Following the transaction, the senior vice president owned 8,082 shares in the company, valued at approximately $2,123,949.60. This trade represents a 5.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.35% of the company’s stock.

Royal Gold Company Profile

Royal Gold, Inc. is a precious metals company that finances mining operations through royalty and streaming agreements. Rather than operating mines itself, the company acquires interests that give it rights to payments or a share of future metal production from mines operated by other companies. Under a streaming agreement, Royal Gold provides financing in exchange for the right to purchase a specified portion of a mine’s future production at an agreed price. Its royalties generally entitle it to payments tied to a mine’s production or revenue.