State of Alaska Department of Revenue Raises Stock Holdings in Royal Gold, Inc. (NASDAQ:RGLD)

State of Alaska Department of Revenue grew its stake in Royal Gold, Inc. (NASDAQ:RGLDGet Rating) (TSE:RGL) by 105.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,730 shares of the basic materials company’s stock after buying an additional 13,186 shares during the quarter. State of Alaska Department of Revenue’s holdings in Royal Gold were worth $2,747,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Arizona State Retirement System increased its position in Royal Gold by 0.4% in the first quarter. Arizona State Retirement System now owns 17,743 shares of the basic materials company’s stock worth $2,507,000 after buying an additional 77 shares in the last quarter. PNC Financial Services Group Inc. increased its position in Royal Gold by 2.4% in the first quarter. PNC Financial Services Group Inc. now owns 4,042 shares of the basic materials company’s stock worth $572,000 after buying an additional 96 shares in the last quarter. Commerce Bank increased its position in Royal Gold by 3.8% in the fourth quarter. Commerce Bank now owns 2,629 shares of the basic materials company’s stock worth $277,000 after buying an additional 97 shares in the last quarter. Avantax Advisory Services Inc. increased its position in Royal Gold by 5.2% in the first quarter. Avantax Advisory Services Inc. now owns 2,256 shares of the basic materials company’s stock worth $319,000 after buying an additional 111 shares in the last quarter. Finally, US Bancorp DE increased its position in Royal Gold by 3.2% in the first quarter. US Bancorp DE now owns 3,913 shares of the basic materials company’s stock worth $552,000 after buying an additional 123 shares in the last quarter. Hedge funds and other institutional investors own 78.04% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the company. National Bank Financial reduced their price target on Royal Gold from $165.00 to $150.00 in a research report on Thursday, July 21st. Raymond James cut their target price on Royal Gold from $144.00 to $142.00 and set an “outperform” rating for the company in a research report on Friday, August 5th. BMO Capital Markets cut their target price on Royal Gold from $142.00 to $140.00 and set a “market perform” rating for the company in a research report on Thursday, August 4th. TD Securities cut their target price on Royal Gold from $145.00 to $140.00 and set a “buy” rating for the company in a research report on Friday, August 5th. Finally, Canaccord Genuity Group upgraded Royal Gold from a “hold” rating to a “buy” rating in a research report on Monday, June 13th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $138.00.

Royal Gold Price Performance

NASDAQ RGLD opened at $91.88 on Friday. The stock has a market capitalization of $6.03 billion, a PE ratio of 21.93, a P/E/G ratio of 2.65 and a beta of 0.65. The business has a 50 day simple moving average of $98.44 and a two-hundred day simple moving average of $115.60. Royal Gold, Inc. has a 1-year low of $88.64 and a 1-year high of $147.70.

Royal Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 21st. Stockholders of record on Friday, October 7th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.52%. The ex-dividend date of this dividend is Thursday, October 6th. Royal Gold’s payout ratio is 33.41%.

Royal Gold Company Profile

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Royal Gold, Inc, together with its subsidiaries, acquires and manages precious metal streams, royalties, and related interests. It focuses on acquiring stream and royalty interests or to finance projects that are in production or in development stage in exchange for stream or royalty interests, which primarily consists of gold, silver, copper, nickel, zinc, lead, and cobalt.

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Institutional Ownership by Quarter for Royal Gold (NASDAQ:RGLD)

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