Pinebridge Investments L.P. Boosts Stock Position in Royal Gold, Inc. (NASDAQ:RGLD)

Pinebridge Investments L.P. boosted its position in Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL by 79.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,760 shares of the basic materials company's stock after purchasing an additional 12,712 shares during the period. Pinebridge Investments L.P.'s holdings in Royal Gold were worth $3,792,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Exchange Traded Concepts LLC purchased a new position in shares of Royal Gold in the fourth quarter valued at $25,000. Kohmann Bosshard Financial Services LLC purchased a new position in Royal Gold during the 4th quarter valued at about $42,000. Jones Financial Companies Lllp raised its position in Royal Gold by 390.7% during the fourth quarter. Jones Financial Companies Lllp now owns 368 shares of the basic materials company's stock worth $49,000 after acquiring an additional 293 shares during the last quarter. IFP Advisors Inc lifted its holdings in shares of Royal Gold by 66.7% in the fourth quarter. IFP Advisors Inc now owns 395 shares of the basic materials company's stock valued at $52,000 after purchasing an additional 158 shares in the last quarter. Finally, Human Investing LLC acquired a new stake in shares of Royal Gold in the fourth quarter valued at approximately $73,000. 83.65% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, SVP Randy Shefman sold 1,300 shares of the business's stock in a transaction 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 transaction, the senior vice president now directly 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.49% of the stock is currently owned by insiders.

Royal Gold Stock Performance

Royal Gold stock traded up $1.97 during midday trading on Monday, reaching $180.84. The stock had a trading volume of 435,474 shares, compared to its average volume of 405,728. The stock's 50-day simple moving average is $162.33 and its 200 day simple moving average is $149.84. Royal Gold, Inc. has a twelve month low of $118.61 and a twelve month high of $191.78. The stock has a market capitalization of $11.90 billion, a PE ratio of 35.88, a price-to-earnings-growth ratio of 3.42 and a beta of 0.77.

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

Royal Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 17th. Shareholders of record on Friday, April 4th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend was Friday, April 4th. Royal Gold's dividend payout ratio (DPR) is presently 35.71%.

Analysts Set New Price Targets

A number of brokerages have commented on RGLD. Jefferies Financial Group upgraded Royal Gold from a "hold" rating to a "buy" rating and increased their target price for the company from $154.00 to $178.00 in a report on Tuesday, January 7th. Royal Bank of Canada decreased their price objective on Royal Gold from $175.00 to $170.00 and set an "outperform" rating on the stock in a research note on Friday, April 4th. Raymond James boosted their target price on shares of Royal Gold from $181.00 to $200.00 and gave the company an "outperform" rating in a research note on Friday, April 4th. Scotiabank raised shares of Royal Gold from a "sector perform" rating to a "sector outperform" rating and raised their price target for the stock from $166.00 to $189.00 in a research note on Monday, April 14th. Finally, BMO Capital Markets initiated coverage on shares of Royal Gold in a research report on Wednesday, April 16th. They issued a "market perform" rating and a $196.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, Royal Gold presently has a consensus rating of "Moderate Buy" and a consensus price target of $178.00.

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.