Royal Gold, Inc. (NASDAQ:RGLD) Shares Bought by Bank of Montreal Can

Bank of Montreal Can increased its stake in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 702.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 201,972 shares of the basic materials company’s stock after buying an additional 176,787 shares during the period. Bank of Montreal Can owned 0.31% of Royal Gold worth $15,788,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of RGLD. Van ECK Associates Corp raised its stake in shares of Royal Gold by 15.8% in the first quarter. Van ECK Associates Corp now owns 4,901,086 shares of the basic materials company’s stock valued at $343,321,000 after buying an additional 667,497 shares during the period. Vanguard Group Inc. raised its stake in shares of Royal Gold by 6.5% in the first quarter. Vanguard Group Inc. now owns 5,778,135 shares of the basic materials company’s stock valued at $404,759,000 after buying an additional 355,155 shares during the period. First Eagle Investment Management LLC raised its stake in shares of Royal Gold by 5.0% in the first quarter. First Eagle Investment Management LLC now owns 3,406,065 shares of the basic materials company’s stock valued at $238,595,000 after buying an additional 162,884 shares during the period. State Street Corp raised its stake in shares of Royal Gold by 4.8% in the first quarter. State Street Corp now owns 2,354,371 shares of the basic materials company’s stock valued at $164,922,000 after buying an additional 108,212 shares during the period. Finally, Credit Agricole S A raised its stake in shares of Royal Gold by 137.4% in the first quarter. Credit Agricole S A now owns 174,737 shares of the basic materials company’s stock valued at $12,241,000 after buying an additional 101,147 shares during the period. Institutional investors and hedge funds own 70.89% of the company’s stock.

Shares of Royal Gold, Inc. (RGLD) traded down 0.69% during midday trading on Tuesday, hitting $85.78. 363,786 shares of the company traded hands. Royal Gold, Inc. has a 52 week low of $60.21 and a 52 week high of $88.03. The company has a 50-day moving average price of $82.62 and a 200-day moving average price of $74.68. The stock has a market capitalization of $5.59 billion, a P/E ratio of 55.34 and a beta of 0.68.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last announced its quarterly earnings results on Wednesday, August 9th. The basic materials company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.33 by $0.02. Royal Gold had a return on equity of 4.19% and a net margin of 23.03%. The business had revenue of $108.90 million during the quarter, compared to analysts’ expectations of $108.72 million. During the same period in the previous year, the company posted $0.32 EPS. Royal Gold’s revenue for the quarter was up 15.7% on a year-over-year basis. Analysts anticipate that Royal Gold, Inc. will post $1.90 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, July 21st. Stockholders of record on Friday, July 7th were given a $0.24 dividend. The ex-dividend date was Wednesday, July 5th. This represents a $0.96 annualized dividend and a dividend yield of 1.12%. Royal Gold’s payout ratio is presently 61.54%.

RGLD has been the subject of several recent research reports. Barclays PLC reiterated an “overweight” rating and set a $83.00 target price (up from $82.00) on shares of Royal Gold in a report on Saturday, April 22nd. Zacks Investment Research upgraded shares of Royal Gold from a “hold” rating to a “buy” rating and set a $84.00 target price for the company in a report on Wednesday, June 21st. National Bank Financial lowered shares of Royal Gold from an “outperform” rating to a “sector perform” rating and lifted their target price for the company from $80.00 to $82.50 in a report on Thursday, April 20th. Royal Bank Of Canada reiterated a “buy” rating and set a $83.00 target price on shares of Royal Gold in a report on Monday, June 5th. Finally, BMO Capital Markets reiterated a “buy” rating and set a $95.00 target price on shares of Royal Gold in a report on Thursday, June 29th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $91.59.

In related news, CFO Stefan Wenger sold 2,500 shares of the stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $80.00, for a total transaction of $200,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Tony A. Jensen sold 25,000 shares of the stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $85.00, for a total transaction of $2,125,000.00. The disclosure for this sale can be found here. Insiders sold a total of 57,629 shares of company stock valued at $4,736,660 in the last ninety days. Corporate insiders own 1.37% of the company’s stock.

About Royal Gold

Royal Gold, Inc, together with its subsidiaries, is engaged in acquiring and managing precious metal streams, royalties and similar interests. The Company operates through two segments: Acquisition and Management of Stream Interests, and Acquisition and Management of Royalty Interests. Its assets are located in Canada, Chile, Dominican Republic, Mexico, the United States, Africa, Australia and Other.