California Public Employees Retirement System grew its stake in Royal Gold, Inc (NASDAQ:RGLD) (TSE:RGL) by 44.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 150,775 shares of the basic materials company’s stock after acquiring an additional 46,321 shares during the period. California Public Employees Retirement System owned 0.23% of Royal Gold worth $18,577,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in RGLD. Vanguard Group Inc. raised its holdings in shares of Royal Gold by 3.6% during the second quarter. Vanguard Group Inc. now owns 7,230,223 shares of the basic materials company’s stock valued at $741,024,000 after purchasing an additional 251,565 shares during the period. Nuveen Asset Management LLC purchased a new position in Royal Gold in the second quarter worth about $45,477,000. Invesco Ltd. raised its holdings in Royal Gold by 353.5% in the second quarter. Invesco Ltd. now owns 350,177 shares of the basic materials company’s stock worth $35,890,000 after buying an additional 272,966 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Royal Gold by 2.5% in the second quarter. Charles Schwab Investment Management Inc. now owns 342,076 shares of the basic materials company’s stock worth $35,060,000 after buying an additional 8,460 shares during the last quarter. Finally, Rhumbline Advisers raised its holdings in Royal Gold by 0.9% in the third quarter. Rhumbline Advisers now owns 179,096 shares of the basic materials company’s stock worth $22,066,000 after buying an additional 1,624 shares during the last quarter. Institutional investors own 78.20% of the company’s stock.

RGLD opened at $113.56 on Friday. The company has a quick ratio of 4.26, a current ratio of 4.60 and a debt-to-equity ratio of 0.10. The firm has a 50 day moving average price of $122.05 and a 200-day moving average price of $110.39. Royal Gold, Inc has a twelve month low of $70.16 and a twelve month high of $138.78. The stock has a market capitalization of $7.26 billion, a price-to-earnings ratio of 78.32, a PEG ratio of 4.43 and a beta of 0.10.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last released its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.02. Royal Gold had a net margin of 22.18% and a return on equity of 4.42%. The firm had revenue of $118.77 million during the quarter, compared to analysts’ expectations of $129.47 million. During the same period in the previous year, the company earned $0.23 earnings per share. The firm’s quarterly revenue was up 18.8% on a year-over-year basis. As a group, analysts expect that Royal Gold, Inc will post 2.5 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Friday, October 4th were issued a dividend of $0.265 per share. The ex-dividend date of this dividend was Thursday, October 3rd. This represents a $1.06 annualized dividend and a dividend yield of 0.93%. Royal Gold’s payout ratio is 73.10%.

Several research analysts have issued reports on RGLD shares. B. Riley cut shares of Royal Gold from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $127.10 to $122.00 in a report on Thursday, October 31st. Cantor Fitzgerald raised shares of Royal Gold from a “hold” rating to a “buy” rating in a report on Thursday. TD Securities decreased their target price on shares of Royal Gold from $135.00 to $125.00 and set a “hold” rating for the company in a report on Friday. CIBC cut shares of Royal Gold from a “sector outperform” rating to a “neutral” rating in a report on Thursday, August 1st. Finally, Barclays cut shares of Royal Gold from an “equal weight” rating to an “underweight” rating and lifted their target price for the stock from $88.00 to $105.00 in a report on Tuesday, July 16th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $111.31.

In related news, VP Mark Isto sold 2,173 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $125.02, for a total transaction of $271,668.46. Following the completion of the sale, the vice president now directly owns 21,480 shares in the company, valued at $2,685,429.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Bruce Christopher Kirchhoff sold 1,417 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $127.16, for a total transaction of $180,185.72. Following the sale, the vice president now owns 48,826 shares of the company’s stock, valued at $6,208,714.16. The disclosure for this sale can be found here. Insiders have sold 87,603 shares of company stock valued at $11,107,708 over the last three months. 0.52% of the stock is owned by corporate insiders.

About Royal Gold

Royal Gold, Inc, together with its subsidiaries, acquires and manages precious metal streams, royalties, and related interests. It focuses on acquiring stream and royalty interests or to finance projects that are in production or in development stage in exchange for stream or royalty interests, which primarily consists of gold, silver, copper, nickel, zinc, lead, cobalt, and molybdenum.

Read More: Preferred Stock

Institutional Ownership by Quarter for Royal Gold (NASDAQ:RGLD)

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