Arizona State Retirement System Increases Stake in Royal Gold, Inc.

The Arizona State Retirement System has raised its investment in Royal Gold, Inc. (NASDAQ:RGLD) by 0.8% during the fourth quarter, as detailed in its latest 13F filing with the Securities and Exchange Commission (SEC). Following this increase, the fund now holds a total of 19,076 shares of the mining company. This additional purchase consisted of 149 shares, bringing the value of Arizona State Retirement System’s holdings in Royal Gold to approximately $2,515,000 according to the latest SEC disclosure.

Other institutional investors have also been active in buying and selling shares of Royal Gold recently. For instance, Exchange Traded Concepts LLC acquired a new stake in the company during the fourth quarter, spending around $25,000. Similarly, Point72 Hong Kong Ltd initiated a position in Royal Gold during the third quarter with an investment of approximately $36,000. Advisors Asset Management Inc. also entered the market in the same quarter, investing about $38,000. Additionally, Nomura Asset Management Co. Ltd. significantly increased its position in Royal Gold by 61.1% in the third quarter, now owning 290 shares valued at $41,000 after buying an extra 110 shares. Lastly, Kohmann Bosshard Financial Services LLC invested about $42,000 in the fourth quarter. Currently, institutional investors control 83.65% of the company’s stocks.

Analysts Update Royal Gold Price Targets

Several analysts have revised their price targets for Royal Gold’s shares. Notably, Jefferies Financial Group raised its rating from “hold” to “buy” and increased its price target for the stock from $154.00 to $178.00 in a report dated January 7th. Raymond James similarly upgraded their target price from $184.00 to $186.00, labeling the stock as “outperform” in a report published on November 11th. The analyst consensus currently rates the stock as “Hold,” with an average price target set at $168.86. Notably, one analyst has assigned a “sell” rating, while three analysts recommend holding the stock and five advocate for buying it.

Royal Gold Stock Performance

On the trading front, shares of Royal Gold opened at $152.20. The company has experienced notable fluctuations, having a 12-month low of $107.33 and a peak of $156.35. With a market capitalization of $10.01 billion, Royal Gold has a price-to-earnings ratio of 30.20 and a price-to-earnings-growth ratio of 3.42. Its stock has a fifty-day moving average of $142.19 and a 200-day moving average of $142.90.

Royal Gold last reported its quarterly earnings on February 12th, achieving earnings of $1.63 per share, surpassing the average forecast of $1.46 by $0.17. The company has a net margin of 46.15% and a return on equity of 11.46%. Analysts predict that Royal Gold will report earnings per share of 6.2 for the current fiscal year.

Dividend Announcement

Moreover, Royal Gold has declared a quarterly dividend to be paid on April 17th, slated for shareholders on record as of April 4th. This dividend is set at $0.45, equating to an annualized dividend of $1.80, which results in a dividend yield of 1.18%. The ex-dividend date for this distribution is also scheduled for April 4th, with a dividend payout ratio of 35.71%.

About Royal Gold

Royal Gold, Inc. acquires and manages precious metal streams, royalties, and related interests through its subsidiaries. Its strategy involves securing stream and royalty interests, or financing projects that are operational, in development, or exploration phases in exchange for such interests, primarily in gold, silver, copper, nickel, zinc, lead, and other metals.

Arizona, Retirement, Investment