New York State Teachers Retirement System Trims Position in Royal Gold, Inc. $RGLD

New York State Teachers Retirement System decreased its holdings in shares of Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 6.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 51,614 shares of the basic materials company’s stock after selling 3,399 shares during the period. New York State Teachers Retirement System owned approximately 0.08% of Royal Gold worth $10,353,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Cullen Frost Bankers Inc. raised its stake in Royal Gold by 548.1% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 175 shares of the basic materials company’s stock valued at $31,000 after acquiring an additional 148 shares during the last quarter. Blue Trust Inc. increased its holdings 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 valued at $35,000 after purchasing an additional 71 shares during the period. Caldwell Trust Co acquired a new position in shares of Royal Gold in the second quarter valued at approximately $36,000. MassMutual Private Wealth & Trust FSB raised its stake in shares of Royal Gold by 33.9% during the third quarter. MassMutual Private Wealth & Trust FSB now owns 221 shares of the basic materials company’s stock worth $44,000 after purchasing an additional 56 shares during the last quarter. Finally, JFS Wealth Advisors LLC lifted its holdings in shares of Royal Gold by 568.4% during the second quarter. JFS Wealth Advisors LLC now owns 254 shares of the basic materials company’s stock worth $45,000 after purchasing an additional 216 shares during the period. Hedge funds and other institutional investors own 83.65% of the company’s stock.

Royal Gold Trading Up 0.1%

Shares of Royal Gold stock opened at $254.19 on Thursday. The company has a 50-day moving average of $212.09 and a two-hundred day moving average of $189.78. Royal Gold, Inc. has a 12-month low of $134.70 and a 12-month high of $256.92. The company has a current ratio of 2.89, a quick ratio of 2.68 and a debt-to-equity ratio of 0.23. The stock has a market cap of $21.45 billion, a PE ratio of 34.92, a price-to-earnings-growth ratio of 0.78 and a beta of 0.49.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last released its quarterly earnings results on Wednesday, November 5th. The basic materials company reported $2.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.24). The firm had revenue of $250.23 million for the quarter, compared to analyst estimates of $275.11 million. Royal Gold had a return on equity of 14.14% and a net margin of 55.99%.The company’s quarterly revenue was up 30.1% compared to the same quarter last year. During the same period last year, the firm earned $1.47 EPS. On average, research analysts anticipate that Royal Gold, Inc. will post 6.2 EPS for the current fiscal year.

Royal Gold Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 16th. Stockholders of record on Friday, January 2nd will be given a $0.475 dividend. This is a boost from Royal Gold’s previous quarterly dividend of $0.45. This represents a $1.90 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Friday, January 2nd. Royal Gold’s dividend payout ratio (DPR) is currently 26.10%.

Wall Street Analyst Weigh In

RGLD has been the topic of several recent research reports. Jefferies Financial Group reissued a “buy” rating and issued a $270.00 price objective on shares of Royal Gold in a research note on Sunday, December 7th. Scotiabank reiterated an “outperform” rating on shares of Royal Gold in a research note on Thursday, October 23rd. Bank of America raised their price objective on shares of Royal Gold from $193.00 to $203.00 and gave the company an “underperform” rating in a research report on Thursday, October 16th. TD Cowen lifted their price objective on Royal Gold from $261.00 to $263.00 and gave the company a “buy” rating in a report on Tuesday, November 18th. Finally, Wall Street Zen downgraded Royal Gold from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Eight analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Royal Gold has a consensus rating of “Moderate Buy” and an average target price of $234.60.

About Royal Gold

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.