M&T Bank Corp Raises Stock Holdings in Royal Gold, Inc. (NASDAQ:RGLD)

M&T Bank Corp boosted its holdings in shares of Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 17.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 3,860 shares of the basic materials company’s stock after purchasing an additional 564 shares during the period. M&T Bank Corp’s holdings in Royal Gold were worth $509,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. boosted its position in Royal Gold by 1.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 484,207 shares of the basic materials company’s stock worth $63,843,000 after purchasing an additional 5,067 shares in the last quarter. DJE Kapital AG purchased a new position in Royal Gold during the fourth quarter worth approximately $2,561,000. SBI Securities Co. Ltd. purchased a new position in shares of Royal Gold in the fourth quarter valued at approximately $414,000. Jones Financial Companies Lllp lifted its position in shares of Royal Gold by 390.7% in the fourth quarter. Jones Financial Companies Lllp now owns 368 shares of the basic materials company’s stock valued at $49,000 after acquiring an additional 293 shares in the last quarter. Finally, SRS Capital Advisors Inc. lifted its position in shares of Royal Gold by 42.5% in the fourth quarter. SRS Capital Advisors Inc. now owns 651 shares of the basic materials company’s stock valued at $86,000 after acquiring an additional 194 shares in the last quarter. Hedge funds and other institutional investors own 83.65% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group upgraded Royal Gold from a “hold” rating to a “buy” rating and raised their target price for the company from $154.00 to $178.00 in a research report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Royal Gold currently has an average rating of “Hold” and a consensus price target of $168.86.

Royal Gold Stock Performance

Shares of Royal Gold stock opened at $153.54 on Friday. Royal Gold, Inc. has a one year low of $107.33 and a one year high of $157.67. The company has a market cap of $10.10 billion, a price-to-earnings ratio of 30.46, a PEG ratio of 3.42 and a beta of 0.84. The business’s 50 day moving average price is $143.49 and its 200 day moving average price is $143.16.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last announced its quarterly earnings data on Wednesday, February 12th. The basic materials company reported $1.63 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.17. Royal Gold had a return on equity of 11.46% and a net margin of 46.15%. On average, analysts predict that Royal Gold, Inc. will post 6.2 EPS for the current fiscal year.

Royal Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Friday, April 4th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $1.80 dividend on an annualized basis and a yield of 1.17%. Royal Gold’s payout ratio is 35.71%.

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.