Retirement Systems of Alabama Has $6,066,000 Position in Royal Gold Inc. (RGLD)
Retirement Systems of Alabama boosted its stake in shares of Royal Gold Inc. (NASDAQ:RGLD) by 0.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 84,229 shares of the company’s stock after buying an additional 78 shares during the period. Retirement Systems of Alabama’s holdings in Royal Gold were worth $6,066,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Meeder Asset Management Inc. increased its position in shares of Royal Gold by 199,100.0% in the second quarter. Meeder Asset Management Inc. now owns 1,992 shares of the company’s stock valued at $144,000 after buying an additional 1,991 shares in the last quarter. LS Investment Advisors LLC increased its position in shares of Royal Gold by 73.2% in the second quarter. LS Investment Advisors LLC now owns 3,948 shares of the company’s stock valued at $284,000 after buying an additional 1,668 shares in the last quarter. Oakbrook Investments LLC purchased a new position in shares of Royal Gold during the second quarter valued at approximately $403,000. IBM Retirement Fund increased its position in shares of Royal Gold by 1.5% in the second quarter. IBM Retirement Fund now owns 6,568 shares of the company’s stock valued at $473,000 after buying an additional 96 shares in the last quarter. Finally, Capstone Asset Management Co. increased its position in shares of Royal Gold by 5.3% in the second quarter. Capstone Asset Management Co. now owns 6,996 shares of the company’s stock valued at $504,000 after buying an additional 350 shares in the last quarter. Institutional investors and hedge funds own 68.95% of the company’s stock.
Shares of Royal Gold Inc. (NASDAQ:RGLD) traded down 2.31% during mid-day trading on Tuesday, reaching $65.09. 667,684 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $76.71 and a 200-day moving average price of $69.29. Royal Gold Inc. has a one year low of $24.68 and a one year high of $87.74. The stock’s market cap is $4.25 billion.
Royal Gold (NASDAQ:RGLD) last issued its earnings results on Wednesday, August 10th. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by $0.01. The business earned $94.10 million during the quarter, compared to analysts’ expectations of $100.62 million. Royal Gold had a positive return on equity of 2.81% and a negative net margin of 21.44%. Royal Gold’s revenue for the quarter was up 27.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.23 EPS. On average, analysts predict that Royal Gold Inc. will post $1.86 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date is Wednesday, September 28th. Royal Gold’s payout ratio is presently -77.97%.
A number of analysts have weighed in on the stock. FBR & Co set a $80.00 target price on shares of Royal Gold and gave the stock a “hold” rating in a research note on Tuesday, September 20th. RBC Capital Markets reaffirmed an “outperform” rating on shares of Royal Gold in a research note on Tuesday, September 20th. Zacks Investment Research cut shares of Royal Gold from a “buy” rating to a “hold” rating in a research note on Wednesday, September 7th. Barclays PLC boosted their target price on shares of Royal Gold from $62.00 to $99.00 and gave the stock an “overweight” rating in a research note on Monday, August 8th. Finally, HSBC reaffirmed a “buy” rating on shares of Royal Gold in a research note on Thursday, July 7th. One research analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $72.29.
About Royal Gold
Royal Gold, Inc, together with its subsidiaries, is engaged in acquiring and managing precious metal streams, royalties and similar interests. The Company operates through two segments: Acquisition and Management of Stream Interests, and Acquisition and Management of Royalty Interests. Its assets are located in Canada, Chile, Dominican Republic, Mexico, the United States, Africa, Australia and Other.
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