Royal Gold, Inc. (RGLD) Position Raised by BNP Paribas Arbitrage SA
BNP Paribas Arbitrage SA raised its position in shares of Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 70.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 24,664 shares of the basic materials company’s stock after buying an additional 10,222 shares during the period. BNP Paribas Arbitrage SA’s holdings in Royal Gold were worth $1,928,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of RGLD. Bank of Montreal Can raised its stake in shares of Royal Gold by 702.0% in the second quarter. Bank of Montreal Can now owns 201,972 shares of the basic materials company’s stock worth $15,788,000 after buying an additional 176,787 shares in the last quarter. Comerica Bank raised its stake in shares of Royal Gold by 3.0% in the first quarter. Comerica Bank now owns 66,791 shares of the basic materials company’s stock worth $4,636,000 after buying an additional 1,936 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of Royal Gold by 15.8% in the first quarter. Van ECK Associates Corp now owns 4,901,086 shares of the basic materials company’s stock worth $343,321,000 after buying an additional 667,497 shares in the last quarter. Arcadia Investment Management Corp MI purchased a new stake in shares of Royal Gold during the second quarter worth about $104,000. Finally, PNC Financial Services Group Inc. raised its stake in shares of Royal Gold by 2.3% in the first quarter. PNC Financial Services Group Inc. now owns 9,312 shares of the basic materials company’s stock worth $652,000 after buying an additional 209 shares in the last quarter. 70.43% of the stock is currently owned by hedge funds and other institutional investors.
Royal Gold, Inc. (NASDAQ:RGLD) opened at 92.86 on Friday. The firm’s 50-day moving average price is $86.55 and its 200-day moving average price is $76.32. The firm has a market cap of $6.07 billion, a price-to-earnings ratio of 59.91 and a beta of 0.63. Royal Gold, Inc. has a 1-year low of $60.21 and a 1-year high of $94.11.
Royal Gold (NASDAQ:RGLD) (TSE:RGL) last posted its quarterly earnings data on Wednesday, August 9th. The basic materials company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by $0.02. Royal Gold had a return on equity of 4.19% and a net margin of 23.03%. The business had revenue of $108.90 million for the quarter, compared to analyst estimates of $108.72 million. During the same quarter last year, the business earned $0.32 EPS. Royal Gold’s revenue for the quarter was up 15.7% compared to the same quarter last year. On average, equities research analysts anticipate that Royal Gold, Inc. will post $1.79 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 20th. Stockholders of record on Friday, October 6th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend is Thursday, October 5th. Royal Gold’s dividend payout ratio (DPR) is 61.54%.
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A number of analysts have recently issued reports on RGLD shares. Macquarie lowered Royal Gold from an “outperform” rating to a “neutral” rating in a research note on Wednesday, July 12th. Zacks Investment Research raised Royal Gold from a “hold” rating to a “buy” rating and set a $88.00 price target on the stock in a research note on Wednesday, July 12th. BidaskClub raised Royal Gold from a “hold” rating to a “buy” rating in a research note on Saturday, July 8th. BMO Capital Markets reaffirmed a “buy” rating and issued a $95.00 price target on shares of Royal Gold in a research note on Thursday, June 29th. Finally, Barclays PLC reaffirmed an “overweight” rating and issued a $84.00 price target (up from $83.00) on shares of Royal Gold in a research note on Tuesday, June 6th. One analyst has rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Royal Gold has a consensus rating of “Buy” and a consensus price target of $91.95.
In related news, VP Bruce Christopher Kirchhoff sold 28,805 shares of Royal Gold stock in a transaction on Friday, August 18th. The stock was sold at an average price of $86.28, for a total value of $2,485,295.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Karli S. Anderson sold 2,262 shares of Royal Gold stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $91.45, for a total value of $206,859.90. Following the completion of the transaction, the vice president now owns 20,081 shares in the company, valued at approximately $1,836,407.45. The disclosure for this sale can be found here. Insiders have sold 106,845 shares of company stock worth $9,306,508 in the last 90 days. Insiders own 1.37% of the company’s stock.
About Royal Gold
Royal Gold, Inc, together with its subsidiaries, is engaged in acquiring and managing precious metal streams, royalties and similar interests. The Company operates through two segments: Acquisition and Management of Stream Interests, and Acquisition and Management of Royalty Interests. Its assets are located in Canada, Chile, Dominican Republic, Mexico, the United States, Africa, Australia and Other.
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