On October 11, 2023, it was reported that &CWA Asset Management Group LLC had significantly increased its position in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) during the second quarter of the year. According to the company’s disclosure with the Securities and Exchange Commission (SEC), &CWA Asset Management Group LLC purchased an additional 100,446 shares, leading to a boost of 384.5% in their holdings. As a result, they now own 126,570 shares in the basic materials company.
With this increase in ownership, Royal Gold now accounts for approximately 1.0% of CWA Asset Management Group LLC’s investment portfolio. In fact, it is their 25th largest holding overall. At the end of the most recent quarter, these shares were valued at $14,528,000 – representing about 0.19% of Royal Gold’s total worth.
Royal Gold has also announced its quarterly dividend payment recently. This dividend will be paid on Friday, October 20th to stockholders who were recorded as such on Friday, October 6th. The amount per share stands at $0.375 and corresponds to an annualized dividend of $1.50 per share. Based on the current stock price, this results in a dividend yield of 1.41%.
It is important to note that Royal Gold’s dividend payout ratio (DPR) currently sits at about 42.86%. This means that they are using roughly 42.86% of their net income to distribute dividends to shareholders.
This news highlights not only an increase in ownership by &CWA Asset Management Group LLC but also provides insights into Royal Gold’s financial health and commitment towards rewarding its shareholders through regular dividend distributions.
Disclaimer: The information provided above is based on data available till October 11, 2023 and may be subject to change. Investors should conduct their own research and consult with a financial advisor before making any investment decisions.
Investor Interest and Analyst Reports Boost Royal Gold, Inc. (NASDAQ:RGLD)
Royal Gold, Inc. (NASDAQ:RGLD) is gaining attention from several large investors who have recently modified their holdings of the company’s stock. Fiduciary Alliance LLC purchased a new stake in Royal Gold during the second quarter, investing approximately $29,000. Ulland Investment Advisors LLC also acquired shares of Royal Gold worth $32,000 during the first quarter. Additionally, Glass Jacobson Investment Advisors LLC bought a new position in the company in the second quarter for $36,000. 1832 Asset Management L.P. and Coppell Advisory Solutions Corp. purchased new positions in shares of Royal Gold during the first and fourth quarters respectively, with values amounting to $51,000 and $52,000.
With such significant investments from hedge funds and other institutional investors owning 80.49% of the company’s stock, it is evident that Royal Gold has caught the attention of market experts and professionals.
Research analysts have also been closely monitoring Royal Gold and have issued various reports on its performance. BMO Capital Markets increased their target price on the company’s shares from $137.00 to $139.00, rating it as “market perform.” Barclays also lifted their price objective on Royal Gold shares from $122.00 to $124.00.
Cantor Fitzgerald went a step further by upgrading Royal Gold’s rating from “hold” to “buy” with a target price of $145.00 for the company. Raymond James, however, decreased their price target on shares of Royal Gold from $161.00 to $157.00 but kept an “outperform” rating for the company.
It is worth mentioning that StockNews.com initiated coverage on Royal Gold with a “hold” rating indicating a somewhat neutral outlook on its future performance.
The consensus rating for RGLD according to Bloomberg is currently labeled as “Hold,” with an average target price of $142.30 derived from several research reports.
Turning our attention to the stock’s recent performance, Royal Gold traded up $0.55 during trading hours on Wednesday, reaching a price of $106.56. Around 43,847 shares were exchanged, as compared to its average volume of 428,919.
Royal Gold has had a volatile year in terms of stock price, with a low of $86.75 and a high of $147.82 within the last 12 months. As of now, the stock has a 50-day moving average price of $109.89 and a 200-day moving average price of $120.53.
The company boasts a market capitalization of approximately $7.00 billion and has shown resilience despite various economic uncertainties.
In terms of financial performance, Royal Gold last released its quarterly earnings data on August 2nd. The basic materials company reported an earnings per share (EPS) of $0.88 for the quarter, which was in line with analysts’ consensus estimates. The firm’s revenue for the quarter reached $144.04 million.
Royal Gold has also maintained impressive margins with a net margin of 37.69% and a return on equity (ROE) of 8.19%. Analysts believe that the company will post an EPS of 3.51 for the current fiscal year.
Given the perplexing state of the market and various adjustments made by investors, it is crucial to track how Royal Gold navigates these challenges moving forward.