Point72 Asia Singapore Pte. Ltd. Boosts Holdings in Royal Gold, Inc. (NASDAQ:RGLD)

Point72 Asia Singapore Pte. Ltd. lifted its stake in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 8.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,287 shares of the basic materials company’s stock after buying an additional 426 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in Royal Gold were worth $742,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Point72 Hong Kong Ltd purchased a new position in shares of Royal Gold in the 3rd quarter valued at $36,000. Erste Asset Management GmbH purchased a new position in shares of Royal Gold in the 3rd quarter valued at $59,000. True Wealth Design LLC purchased a new position in shares of Royal Gold in the 3rd quarter valued at $60,000. Caisse DE Depot ET Placement DU Quebec purchased a new position in shares of Royal Gold in the 3rd quarter valued at $331,000. Finally, Verition Fund Management LLC grew its position in Royal Gold by 213.1% during the 3rd quarter. Verition Fund Management LLC now owns 8,051 shares of the basic materials company’s stock worth $1,130,000 after purchasing an additional 5,480 shares during the last quarter. 83.65% of the stock is owned by hedge funds and other institutional investors.

Royal Gold Stock Up 0.4 %

Shares of NASDAQ RGLD opened at $146.26 on Monday. Royal Gold, Inc. has a 52 week low of $100.55 and a 52 week high of $155.10. The firm has a 50-day moving average price of $145.49 and a 200 day moving average price of $137.24. The stock has a market capitalization of $9.62 billion, a price-to-earnings ratio of 33.55, a price-to-earnings-growth ratio of 1.07 and a beta of 0.90.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last announced its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $1.47 EPS for the quarter, beating the consensus estimate of $1.34 by $0.13. The firm had revenue of $193.84 million during the quarter, compared to analysts’ expectations of $184.12 million. Royal Gold had a net margin of 42.93% and a return on equity of 10.18%. The business’s revenue for the quarter was up 39.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.76 earnings per share. Equities research analysts expect that Royal Gold, Inc. will post 5.14 EPS for the current fiscal year.

Royal Gold Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Friday, January 3rd will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $1.80 dividend on an annualized basis and a yield of 1.23%. This is a boost from Royal Gold’s previous quarterly dividend of $0.40. Royal Gold’s payout ratio is presently 41.28%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on RGLD shares. Scotiabank raised their price objective on shares of Royal Gold from $148.00 to $157.00 and gave the stock a “sector perform” rating in a research report on Monday, August 19th. StockNews.com raised shares of Royal Gold from a “hold” rating to a “buy” rating in a research report on Thursday, September 19th. TD Securities raised their price objective on shares of Royal Gold from $181.00 to $185.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Raymond James raised their price objective on shares of Royal Gold from $184.00 to $186.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. Finally, Jefferies Financial Group raised their price objective on shares of Royal Gold from $141.00 to $154.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Royal Gold has an average rating of “Hold” and a consensus target price of $165.43.

Insiders Place Their Bets

In other Royal Gold news, Director William M. Hayes sold 1,984 shares of Royal Gold stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $147.05, for a total transaction of $291,747.20. Following the completion of the transaction, the director now owns 9,268 shares in the company, valued at approximately $1,362,859.40. The trade was a 17.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Daniel Breeze sold 840 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $143.43, for a total transaction of $120,481.20. Following the completion of the transaction, the senior vice president now directly owns 16,842 shares of the company’s stock, valued at approximately $2,415,648.06. This represents a 4.75 % decrease in their position. The disclosure for this sale can be found here. 0.52% of the stock is currently owned by company insiders.

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.