D.A. Davidson & CO. Acquires New Holdings in Royal Gold, Inc. (NASDAQ:RGLD)

Posted by Defense World Staff on Apr 28th, 2023

D.A. Davidson & CO. bought a new position in shares of Royal Gold, Inc. (NASDAQ:RGLD – Get Rating) (TSE:RGL) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 9,244 shares of the basic materials company’s stock, valued at approximately $1,042,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RGLD. State Street Corp grew its position in shares of Royal Gold by 66.2% in the first quarter. State Street Corp now owns 4,153,139 shares of the basic materials company’s stock valued at $588,192,000 after purchasing an additional 1,654,360 shares during the last quarter. Bank of New York Mellon Corp increased its position in Royal Gold by 1.4% during the third quarter. Bank of New York Mellon Corp now owns 840,006 shares of the basic materials company’s stock worth $78,811,000 after buying an additional 11,395 shares in the last quarter. Kopernik Global Investors LLC raised its holdings in shares of Royal Gold by 35.1% in the third quarter. Kopernik Global Investors LLC now owns 735,963 shares of the basic materials company’s stock worth $69,048,000 after acquiring an additional 191,036 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Royal Gold by 1.4% in the third quarter. Dimensional Fund Advisors LP now owns 559,384 shares of the basic materials company’s stock worth $52,479,000 after acquiring an additional 7,748 shares during the last quarter. Finally, Jupiter Asset Management Ltd. lifted its position in shares of Royal Gold by 566.9% in the third quarter. Jupiter Asset Management Ltd. now owns 451,081 shares of the basic materials company’s stock valued at $42,321,000 after acquiring an additional 383,444 shares in the last quarter. Institutional investors and hedge funds own 78.13% of the company’s stock.

Royal Gold Trading Up 1.3 %

Shares of RGLD opened at $134.71 on Friday. Royal Gold, Inc. has a twelve month low of $84.54 and a twelve month high of $144.96. The firm has a market capitalization of $8.85 billion, a P/E ratio of 37.01, a price-to-earnings-growth ratio of 3.44 and a beta of 0.65. The company has a current ratio of 2.92, a quick ratio of 2.72 and a debt-to-equity ratio of 0.21. The stock’s fifty day simple moving average is $126.86 and its 200 day simple moving average is $116.82.

Royal Gold (NASDAQ:RGLD – Get Rating) (TSE:RGL) last released its quarterly earnings data on Wednesday, February 15th. The basic materials company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.18. Royal Gold had a return on equity of 8.36% and a net margin of 39.62%. The company had revenue of $162.98 million for the quarter, compared to the consensus estimate of $153.04 million. During the same period last year, the business posted $1.05 EPS. The company’s quarterly revenue was down 3.3% compared to the same quarter last year. On average, equities research analysts forecast that Royal Gold, Inc. will post 3.86 earnings per share for the current year.

Royal Gold Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 21st. Shareholders of record on Thursday, April 6th were given a dividend of $0.375 per share. The ex-dividend date of this dividend was Wednesday, April 5th. This represents a $1.50 dividend on an annualized basis and a yield of 1.11%. Royal Gold’s dividend payout ratio (DPR) is 41.21%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on RGLD. TD Securities boosted their target price on shares of Royal Gold from $135.00 to $140.00 and gave the company a “buy” rating in a research note on Friday, January 6th. StockNews.com raised shares of Royal Gold from a “sell” rating to a “hold” rating in a research note on Saturday, March 18th. National Bankshares lifted their target price on shares of Royal Gold from $155.00 to $165.00 in a research note on Tuesday, April 18th. Barclays boosted their price target on Royal Gold from $119.00 to $122.00 and gave the company an “equal weight” rating in a report on Friday, April 21st. Finally, BMO Capital Markets raised their price objective on Royal Gold from $134.00 to $135.00 and gave the stock a “market perform” rating in a report on Wednesday, January 11th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Royal Gold presently has an average rating of “Hold” and an average target price of $142.25.

About Royal Gold

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Royal Gold, Inc engages in the acquisition and management of precious metal streams, royalties, and similar interests. It operates through the Acquisition and Management of Stream Interests, and Acquisition and Management of Royalty Interests segments. The Acquisition and Management of Stream Interests segment focuses on metal streams, which are purchase agreements that provide, in exchange for an upfront deposit payment, the right to purchase all or a portion of one or more metals produced, at a price determined for the life of the transaction.