Hsbc Holdings PLC Increases Stock Position in Royal Gold, Inc. (NASDAQ:RGLD)

Hsbc Holdings PLC grew its position in shares of Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 357.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,719 shares of the basic materials company’s stock after purchasing an additional 40,419 shares during the period. Hsbc Holdings PLC owned approximately 0.08% of Royal Gold worth $6,473,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its stake in Royal Gold by 224.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 609,760 shares of the basic materials company’s stock valued at $74,276,000 after purchasing an additional 422,026 shares in the last quarter. Van ECK Associates Corp lifted its holdings in shares of 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 valued at $559,807,000 after acquiring an additional 292,357 shares during the last quarter. Norges Bank purchased a new position in Royal Gold in the fourth quarter worth about $33,696,000. Bank of New York Mellon Corp increased its stake in Royal Gold by 34.1% during the second quarter. Bank of New York Mellon Corp now owns 834,986 shares of the basic materials company’s stock worth $104,507,000 after acquiring an additional 212,316 shares during the last quarter. Finally, Global Assets Advisory LLC bought a new stake in Royal Gold during the first quarter worth approximately $20,675,000. 83.65% of the stock is owned by institutional investors.

Insider Activity

In other Royal Gold news, Director Ronald J. Vance sold 415 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $140.85, for a total transaction of $58,452.75. Following the completion of the sale, the director now owns 8,194 shares in the company, valued at $1,154,124.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director Ronald J. Vance sold 415 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $140.85, for a total value of $58,452.75. Following the sale, the director now directly owns 8,194 shares in the company, valued at approximately $1,154,124.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ronald J. Vance sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $132.16, for a total transaction of $132,160.00. Following the transaction, the director now owns 9,109 shares of the company’s stock, valued at approximately $1,203,845.44. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,355 shares of company stock worth $1,170,315. 0.52% of the stock is currently owned by corporate insiders.

Royal Gold Stock Performance

Shares of NASDAQ RGLD opened at $143.78 on Tuesday. The stock has a 50 day moving average price of $137.22 and a 200 day moving average price of $128.40. The firm has a market capitalization of $9.45 billion, a price-to-earnings ratio of 42.41, a PEG ratio of 1.13 and a beta of 0.90. Royal Gold, Inc. has a 52-week low of $100.55 and a 52-week high of $145.59.

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

Royal Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Friday, October 4th will be issued a $0.40 dividend. The ex-dividend date is Friday, October 4th. This represents a $1.60 annualized dividend and a dividend yield of 1.11%. Royal Gold’s dividend payout ratio is currently 47.20%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on RGLD shares. CIBC boosted their target price on Royal Gold from $166.00 to $175.00 and gave the company a “neutral” rating in a research report on Wednesday, July 10th. Bank of America boosted their price objective on shares of Royal Gold from $129.00 to $131.00 and gave the company an “underperform” rating in a research report on Wednesday, June 26th. Raymond James raised their target price on shares of Royal Gold from $167.00 to $170.00 and gave the stock an “outperformer” rating in a report on Friday, August 9th. StockNews.com upgraded shares of Royal Gold from a “hold” rating to a “buy” rating in a report on Thursday, September 19th. Finally, Cibc World Mkts raised shares of Royal Gold to a “hold” rating in a research note on Wednesday, July 10th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $157.00.

About Royal Gold

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.