Royal Gold, Inc. $RGLD Shares Bought by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lifted its stake in shares of Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 23.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,059 shares of the basic materials company’s stock after purchasing an additional 4,509 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Royal Gold were worth $4,826,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Norges Bank purchased a new position in Royal Gold during the second quarter worth approximately $68,029,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of Royal Gold by 1,090.1% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 319,454 shares of the basic materials company’s stock worth $56,811,000 after acquiring an additional 292,611 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Royal Gold by 52.3% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 833,181 shares of the basic materials company’s stock worth $148,173,000 after acquiring an additional 286,268 shares during the period. Nomura Holdings Inc. acquired a new position in shares of Royal Gold during the 2nd quarter valued at about $45,184,000. Finally, Invesco Ltd. grew its holdings in shares of Royal Gold by 19.5% in the second quarter. Invesco Ltd. now owns 928,332 shares of the basic materials company’s stock valued at $165,095,000 after purchasing an additional 151,492 shares during the period. 83.65% of the stock is currently owned by hedge funds and other institutional investors.

Royal Gold Stock Down 2.2%

Shares of NASDAQ RGLD opened at $271.78 on Friday. The company has a quick ratio of 2.68, a current ratio of 2.89 and a debt-to-equity ratio of 0.23. The business’s 50 day moving average is $255.32 and its two-hundred day moving average is $210.46. Royal Gold, Inc. has a 52-week low of $142.95 and a 52-week high of $306.25. The firm has a market cap of $22.94 billion, a price-to-earnings ratio of 39.91, a PEG ratio of 0.83 and a beta of 0.49.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last issued its quarterly earnings data on Wednesday, February 18th. The basic materials company reported $1.92 earnings per share for the quarter, missing analysts’ consensus estimates of $2.68 by ($0.76). The firm had revenue of $360.85 million during the quarter, compared to analyst estimates of $425.47 million. Royal Gold had a net margin of 45.26% and a return on equity of 15.37%. The company’s quarterly revenue was up 85.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.63 earnings per share. Research analysts predict that Royal Gold, Inc. will post 6.2 EPS for the current year.

Analysts Set New Price Targets

RGLD has been the topic of a number of analyst reports. Scotiabank downgraded shares of Royal Gold from a “sector outperform” rating to a “sector perform” rating and set a $335.00 target price on the stock. in a research note on Monday, January 26th. TD Cowen raised their price target on shares of Royal Gold from $261.00 to $263.00 and gave the stock a “buy” rating in a report on Tuesday, November 18th. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating and set a $330.00 price target on shares of Royal Gold in a research report on Wednesday, February 4th. Raymond James Financial set a $264.00 price objective on Royal Gold in a research report on Thursday, November 6th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $270.00 target price on shares of Royal Gold in a research report on Sunday, December 7th. Seven equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $251.50.

Royal Gold Profile

Royal Gold, Inc, headquartered in Denver, Colorado, is a leading precious metals streaming and royalty company. Through its business model, Royal Gold provides upfront financing to mining operators in exchange for the right to purchase a percentage of future metal production at predetermined prices. This structure allows the company to participate in production upside while minimizing exposure to the operating and capital-intensive aspects of mine ownership.

The company’s portfolio encompasses interests in over 200 streams and royalties on projects across North America, South America, Europe, Africa and Australia.