Harvey Investment Co. LLC Takes Position in Royal Gold, Inc. (NASDAQ:RGLD)

Harvey Investment Co. LLC bought a new stake in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,300 shares of the basic materials company’s stock, valued at approximately $213,000.

Several other institutional investors also recently modified their holdings of the business. Capital World Investors grew its holdings in shares of Royal Gold by 0.4% in the fourth quarter. Capital World Investors now owns 8,773,925 shares of the basic materials company’s stock valued at $1,156,842,000 after acquiring an additional 37,648 shares in the last quarter. Vanguard Group Inc. grew its holdings in Royal Gold by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 6,651,935 shares of the basic materials company’s stock valued at $877,058,000 after purchasing an additional 89,298 shares during the period. Northern Trust Corp grew its holdings in Royal Gold by 19.6% during the fourth quarter. Northern Trust Corp now owns 1,029,431 shares of the basic materials company’s stock valued at $135,730,000 after purchasing an additional 168,569 shares during the period. AQR Capital Management LLC grew its holdings in Royal Gold by 18.1% during the fourth quarter. AQR Capital Management LLC now owns 997,054 shares of the basic materials company’s stock valued at $131,412,000 after purchasing an additional 152,599 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in Royal Gold by 5.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 877,803 shares of the basic materials company’s stock valued at $115,735,000 after purchasing an additional 49,206 shares during the period. 83.65% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on RGLD shares. Canaccord Genuity Group increased their price objective on Royal Gold from $202.00 to $203.00 in a report on Wednesday, June 11th. BMO Capital Markets set a $197.00 price objective on Royal Gold and gave the company a “market perform” rating in a report on Thursday, May 22nd. CIBC increased their price objective on Royal Gold from $202.00 to $215.00 and gave the company a “neutral” rating in a report on Thursday, May 8th. Raymond James Financial increased their price objective on Royal Gold from $181.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, April 4th. Finally, Wall Street Zen raised Royal Gold from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $185.33.

Royal Gold Price Performance

NASDAQ:RGLD opened at $179.35 on Friday. The company has a market cap of $11.80 billion, a P/E ratio of 29.69, a P/E/G ratio of 1.31 and a beta of 0.44. The stock’s fifty day moving average price is $179.39 and its two-hundred day moving average price is $158.23. Royal Gold, Inc. has a 1 year low of $122.51 and a 1 year high of $191.78.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last posted its earnings results on Wednesday, May 7th. The basic materials company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.14. The firm had revenue of $193.44 million for the quarter, compared to the consensus estimate of $176.17 million. Royal Gold had a return on equity of 12.48% and a net margin of 52.15%. The business’s quarterly revenue was up 29.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.91 earnings per share. On average, analysts expect that Royal Gold, Inc. will post 6.2 earnings per share for the current fiscal year.

Royal Gold Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 17th. Shareholders of record on Thursday, July 3rd will be given a dividend of $0.45 per share. The ex-dividend date is Thursday, July 3rd. This represents a $1.80 annualized dividend and a dividend yield of 1.00%. Royal Gold’s dividend payout ratio is currently 29.80%.

Royal Gold Company 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.