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Alliancebernstein L.P. Increases Stock Position in Royal Gold, Inc. (NASDAQ:RGLD)

Alliancebernstein L.P. increased its position in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 2.5% in the 3rd quarter, according to its most recent disclosure…

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This article was originally published by ETF Daily News

Alliancebernstein L.P. increased its position in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 2.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 107,760 shares of the basic materials company’s stock after purchasing an additional 2,624 shares during the quarter. Alliancebernstein L.P. owned 0.16% of Royal Gold worth $10,290,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the company. Van ECK Associates Corp boosted its stake in shares of Royal Gold by 1.1% in the third quarter. Van ECK Associates Corp now owns 3,525,247 shares of the basic materials company’s stock valued at $336,626,000 after purchasing an additional 39,190 shares during the period. State Street Corp boosted its stake in shares of Royal Gold by 9.3% in the second quarter. State Street Corp now owns 2,497,354 shares of the basic materials company’s stock valued at $284,948,000 after purchasing an additional 212,328 shares during the period. Morgan Stanley boosted its stake in shares of Royal Gold by 1.2% in the second quarter. Morgan Stanley now owns 2,460,285 shares of the basic materials company’s stock valued at $280,720,000 after purchasing an additional 29,307 shares during the period. FMR LLC boosted its stake in shares of Royal Gold by 87.1% in the second quarter. FMR LLC now owns 650,650 shares of the basic materials company’s stock valued at $74,239,000 after purchasing an additional 302,936 shares during the period. Finally, Invesco Ltd. boosted its stake in shares of Royal Gold by 30.1% in the second quarter. Invesco Ltd. now owns 596,213 shares of the basic materials company’s stock valued at $68,028,000 after purchasing an additional 137,840 shares during the period. Institutional investors and hedge funds own 79.40% of the company’s stock.

Royal Gold stock opened at $101.62 on Thursday. The firm’s 50-day moving average is $101.59 and its 200-day moving average is $105.41. The company has a debt-to-equity ratio of 0.04, a quick ratio of 3.65 and a current ratio of 3.85. Royal Gold, Inc. has a 1 year low of $92.01 and a 1 year high of $129.69. The company has a market cap of $6.67 billion, a P/E ratio of 25.15, a PEG ratio of 2.49 and a beta of 0.65.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last posted its quarterly earnings results on Wednesday, November 3rd. The basic materials company reported $1.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.97 by $0.10. Royal Gold had a net margin of 41.31% and a return on equity of 10.26%. The company had revenue of $174.43 million for the quarter, compared to the consensus estimate of $166.16 million. During the same period last year, the firm posted $0.82 EPS. As a group, sell-side analysts predict that Royal Gold, Inc. will post 3.99 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 21st. Investors of record on Friday, January 7th were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date of this dividend was Thursday, January 6th. This is a boost from Royal Gold’s previous quarterly dividend of $0.30. Royal Gold’s dividend payout ratio (DPR) is 34.65%.

RGLD has been the subject of several analyst reports. Raymond James upped their target price on shares of Royal Gold from $136.00 to $139.00 and gave the company an “outperform” rating in a research note on Tuesday, January 18th. Zacks Investment Research upgraded shares of Royal Gold from a “sell” rating to a “hold” rating and set a $106.00 price objective on the stock in a research note on Tuesday, October 26th. Bank of America upgraded shares of Royal Gold from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $108.75 to $125.00 in a research note on Monday, November 22nd. Finally, National Bank Financial reduced their price objective on shares of Royal Gold from C$155.00 to C$140.00 in a research note on Friday, January 7th. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $133.47.

Royal Gold Profile

Royal Gold, Inc engages in the acquisition and management of precious metal streams, royalties, and similar interests. It operates through the following segments: Acquisition and Management of Stream Interests and Acquisition and Management of Royalty Interests. The Acquisition and Management of Stream Interests segment focuses on metal streams, which are purchase agreements that provide, in exchange for an upfront deposit payment, the right to purchase all or a portion of one or more metals produced, at a price determined for the life of the transaction.

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

The post Alliancebernstein L.P. Increases Stock Position in Royal Gold, Inc. (NASDAQ:RGLD) appeared first on ETF Daily News.


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