Intech Investment Management LLC Makes New $1.34 Million Investment in Royal Gold, Inc. (NASDAQ:RGLD)

Intech Investment Management LLC acquired a new stake in shares of Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 10,717 shares of the basic materials company’s stock, valued at approximately $1,341,000.

Several other institutional investors and hedge funds have also modified their holdings of RGLD. Price T Rowe Associates Inc. MD raised its holdings in Royal Gold by 224.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 609,760 shares of the basic materials company’s stock worth $74,276,000 after buying an additional 422,026 shares during the period. Van ECK Associates Corp boosted its stake in Royal Gold by 6.8% in the 1st quarter. Van ECK Associates Corp now owns 4,595,734 shares of the basic materials company’s stock worth $559,807,000 after purchasing an additional 292,357 shares during the period. Norges Bank bought a new position in Royal Gold during the 4th quarter worth about $33,696,000. Bank of New York Mellon Corp raised its stake in shares of Royal Gold by 34.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 834,986 shares of the basic materials company’s stock valued at $104,507,000 after purchasing an additional 212,316 shares during the period. Finally, Global Assets Advisory LLC bought a new stake in shares of Royal Gold in the first quarter valued at about $20,675,000. 83.65% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on RGLD. StockNews.com raised Royal Gold from a “hold” rating to a “buy” rating in a research report on Thursday, September 19th. Cibc World Mkts raised shares of Royal Gold to a “hold” rating in a research report on Wednesday, July 10th. Raymond James boosted their price target on shares of Royal Gold from $167.00 to $170.00 and gave the stock an “outperformer” rating in a research report on Friday, August 9th. Scotiabank raised their price objective on Royal Gold from $148.00 to $157.00 and gave the company a “sector perform” rating in a report on Monday, August 19th. Finally, Jefferies Financial Group upped their target price on Royal Gold from $130.00 to $141.00 and gave the stock a “hold” rating in a report on Friday, July 12th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $157.00.

Insider Buying and Selling at Royal Gold

In other news, CFO Paul Libner sold 1,500 shares of Royal Gold stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $142.53, for a total transaction of $213,795.00. Following the completion of the sale, the chief financial officer now owns 18,657 shares of the company’s stock, valued at $2,659,182.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Daniel Breeze sold 840 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $143.43, for a total value of $120,481.20. Following the completion of the sale, the senior vice president now directly owns 16,842 shares in the company, valued at $2,415,648.06. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Paul Libner sold 1,500 shares of the firm’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $142.53, for a total value of $213,795.00. Following the transaction, the chief financial officer now owns 18,657 shares in the company, valued at approximately $2,659,182.21. The disclosure for this sale can be found here. Insiders have sold a total of 8,355 shares of company stock valued at $1,170,315 in the last ninety days. 0.52% of the stock is currently owned by corporate insiders.

Royal Gold Price Performance

NASDAQ:RGLD opened at $146.36 on Wednesday. The company has a market cap of $9.62 billion, a P/E ratio of 43.17, a P/E/G ratio of 1.13 and a beta of 0.90. The firm’s fifty day moving average price is $137.34 and its two-hundred day moving average price is $128.64. Royal Gold, Inc. has a one year low of $100.55 and a one year high of $147.65.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last issued its quarterly earnings data on Wednesday, August 7th. The basic materials company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.07. Royal Gold had a net margin of 39.15% and a return on equity of 8.74%. The firm had revenue of $174.10 million during the quarter, compared to the consensus estimate of $172.12 million. During the same period last year, the business posted $0.88 earnings per share. The business’s revenue for the quarter was up 20.9% compared to the same quarter last year. As a group, equities research analysts expect that Royal Gold, Inc. will post 4.7 earnings per share for the current year.

Royal Gold Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Friday, October 4th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $1.60 annualized dividend and a yield of 1.09%. Royal Gold’s dividend payout ratio (DPR) is presently 47.20%.

Royal Gold Profile

Royal Gold, Inc, together with its subsidiaries, acquires and manages precious metal streams, royalties, and related interests. The company engages in acquiring stream and royalty interests or to finance projects that are in production, development, or in the exploration stage in exchange for stream or royalty interests, which primarily consists of gold, silver, copper, nickel, zinc, lead, and other metals.