Resona Asset Management Co. Ltd. Invests $1.58 Million in Royal Gold, Inc. (NASDAQ:RGLD)

Resona Asset Management Co. Ltd. bought a new stake in shares of Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 11,964 shares of the basic materials company's stock, valued at approximately $1,577,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in Royal Gold by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 6,651,935 shares of the basic materials company's stock valued at $877,058,000 after buying an additional 89,298 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Royal Gold by 2.6% in the third quarter. Geode Capital Management LLC now owns 1,321,555 shares of the basic materials company's stock valued at $185,454,000 after purchasing an additional 33,151 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Royal Gold by 1.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 484,207 shares of the basic materials company's stock valued at $63,843,000 after purchasing an additional 5,067 shares during the period. Norges Bank bought a new position in Royal Gold in the fourth quarter worth approximately $44,009,000. Finally, Arrowstreet Capital Limited Partnership increased its holdings in Royal Gold by 181.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 302,206 shares of the basic materials company's stock worth $39,846,000 after purchasing an additional 194,905 shares during the period. 83.65% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Raymond James upped their target price on Royal Gold from $181.00 to $200.00 and gave the stock an "outperform" rating in a report on Friday, April 4th. Jefferies Financial Group raised shares of Royal Gold from a "hold" rating to a "buy" rating and upped their price objective for the stock from $154.00 to $178.00 in a research note on Tuesday, January 7th. Scotiabank raised shares of Royal Gold from a "sector perform" rating to a "sector outperform" rating and raised their target price for the company from $166.00 to $189.00 in a research report on Monday. Finally, Royal Bank of Canada reduced their price target on shares of Royal Gold from $175.00 to $170.00 and set an "outperform" rating for the company in a report on Friday, April 4th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $174.75.

Royal Gold Trading Up 0.8 %

Shares of NASDAQ:RGLD traded up $1.37 during trading on Tuesday, reaching $183.17. The stock had a trading volume of 104,266 shares, compared to its average volume of 401,024. The company has a market capitalization of $12.05 billion, a P/E ratio of 36.35, a PEG ratio of 3.42 and a beta of 0.77. The firm's 50-day simple moving average is $155.17 and its 200 day simple moving average is $146.80. Royal Gold, Inc. has a one year low of $118.00 and a one year high of $186.50.

Royal Gold (NASDAQ:RGLD - Get Free Report) TSE: RGL last released its quarterly earnings results on Wednesday, February 12th. The basic materials company reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.17. Royal Gold had a net margin of 46.15% and a return on equity of 11.46%. Equities research analysts forecast that Royal Gold, Inc. will post 6.2 earnings per share for the current fiscal year.

Royal Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Friday, April 4th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 0.98%. The ex-dividend date of this dividend is Friday, April 4th. Royal Gold's dividend payout ratio is currently 35.71%.

Insider Buying and Selling at Royal Gold

In other Royal Gold news, SVP Randy Shefman sold 1,300 shares of the business's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $154.98, for a total transaction of $201,474.00. Following the sale, the senior vice president now owns 9,360 shares of the company's stock, valued at approximately $1,450,612.80. The trade was a 12.20 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.52% of the stock is currently owned by company insiders.

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.