Bank of Montreal Can Acquires 83,015 Shares of Royal Gold, Inc. (NASDAQ:RGLD)

Bank of Montreal Can boosted its stake in shares of Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL by 187.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 127,285 shares of the basic materials company's stock after purchasing an additional 83,015 shares during the quarter. Bank of Montreal Can owned approximately 0.19% of Royal Gold worth $18,049,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in RGLD. Bank of New York Mellon Corp increased its stake in shares of Royal Gold by 34.1% in the second 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. Dimensional Fund Advisors LP grew its holdings in Royal Gold by 24.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 806,872 shares of the basic materials company's stock worth $100,991,000 after buying an additional 156,048 shares in the last quarter. AQR Capital Management LLC raised its stake in Royal Gold by 38.4% during the 2nd quarter. AQR Capital Management LLC now owns 483,493 shares of the basic materials company's stock valued at $60,514,000 after acquiring an additional 134,120 shares in the last quarter. Driehaus Capital Management LLC acquired a new position in Royal Gold during the 2nd quarter worth $15,559,000. Finally, International Assets Investment Management LLC boosted its position in Royal Gold by 13,968.8% during the 3rd quarter. International Assets Investment Management LLC now owns 84,694 shares of the basic materials company's stock worth $11,883,000 after acquiring an additional 84,092 shares during the period. 83.65% of the stock is currently owned by institutional investors.

Royal Gold Trading Up 0.4 %

Shares of Royal Gold stock traded up $0.59 on Friday, reaching $146.26. 163,300 shares of the company were exchanged, compared to its average volume of 433,019. Royal Gold, Inc. has a fifty-two week low of $100.55 and a fifty-two week high of $155.10. The firm has a market capitalization of $9.62 billion, a price-to-earnings ratio of 33.55, a price-to-earnings-growth ratio of 1.07 and a beta of 0.90. The stock has a fifty day moving average price of $145.49 and a 200-day moving average price of $137.19.

Royal Gold (NASDAQ:RGLD - Get Free Report) TSE: RGL last posted its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $1.47 EPS for the quarter, beating analysts' consensus estimates of $1.34 by $0.13. The company had revenue of $193.84 million during the quarter, compared to analyst estimates of $184.12 million. Royal Gold had a net margin of 42.93% and a return on equity of 10.18%. The business's quarterly revenue was up 39.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.76 earnings per share. On average, equities analysts anticipate that Royal Gold, Inc. will post 5.14 earnings per share for the current fiscal year.

Royal Gold Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Friday, January 3rd will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.23%. This is a boost from Royal Gold's previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Friday, January 3rd. Royal Gold's payout ratio is presently 41.28%.

Insider Buying and Selling at Royal Gold

In related news, Director William M. Hayes sold 1,984 shares of the business's stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $147.05, for a total transaction of $291,747.20. Following the transaction, the director now directly owns 9,268 shares of the company's stock, valued at approximately $1,362,859.40. The trade was a 17.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Daniel Breeze sold 840 shares of the company's stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $143.43, for a total transaction of $120,481.20. Following the completion of the transaction, the senior vice president now owns 16,842 shares in the company, valued at approximately $2,415,648.06. This represents a 4.75 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.52% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on RGLD. StockNews.com upgraded shares of Royal Gold from a "hold" rating to a "buy" rating in a research note on Thursday, September 19th. Scotiabank boosted their price target on shares of Royal Gold from $148.00 to $157.00 and gave the stock a "sector perform" rating in a research report on Monday, August 19th. Raymond James increased their price objective on shares of Royal Gold from $184.00 to $186.00 and gave the company an "outperform" rating in a report on Monday, November 11th. TD Securities raised their price objective on shares of Royal Gold from $181.00 to $185.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Finally, Jefferies Financial Group upped their target price on Royal Gold from $141.00 to $154.00 and gave the stock a "hold" rating in a research report on Friday, October 4th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Royal Gold presently has an average rating of "Hold" and a consensus price target of $165.43.

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.