State Treasurer State of Michigan decreased its stake in Royal Gold, Inc (NASDAQ:RGLD) (TSE:RGL) by 4.5% in the 4th quarter, HoldingsChannel reports. The fund owned 23,500 shares of the basic materials company’s stock after selling 1,100 shares during the quarter. State Treasurer State of Michigan’s holdings in Royal Gold were worth $1,930,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Exane Derivatives grew its holdings in shares of Royal Gold by 4,900.0% in the 4th quarter. Exane Derivatives now owns 1,500 shares of the basic materials company’s stock valued at $123,000 after acquiring an additional 1,470 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of Royal Gold in the 3rd quarter valued at about $174,000. Macquarie Group Ltd. bought a new position in shares of Royal Gold in the 3rd quarter valued at about $267,000. QS Investors LLC grew its holdings in shares of Royal Gold by 0.4% in the 2nd quarter. QS Investors LLC now owns 3,561 shares of the basic materials company’s stock valued at $278,000 after acquiring an additional 13 shares in the last quarter. Finally, Private Wealth Partners LLC bought a new position in shares of Royal Gold in the 4th quarter valued at about $287,000. Institutional investors own 71.72% of the company’s stock.

Shares of Royal Gold, Inc (NASDAQ:RGLD) opened at $82.74 on Wednesday. Royal Gold, Inc has a one year low of $61.00 and a one year high of $94.39. The stock has a market cap of $5,449.15, a PE ratio of 94.02, a P/E/G ratio of 4.94 and a beta of 0.61. The company has a quick ratio of 3.80, a current ratio of 3.98 and a debt-to-equity ratio of 0.21.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last issued its earnings results on Thursday, February 8th. The basic materials company reported $0.41 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by ($0.01). Royal Gold had a net margin of 13.00% and a return on equity of 4.31%. The firm had revenue of $114.35 million during the quarter, compared to analyst estimates of $114.79 million. During the same quarter last year, the business posted $0.36 earnings per share. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. equities analysts predict that Royal Gold, Inc will post 1.69 earnings per share for the current fiscal year.

Several equities analysts have recently weighed in on RGLD shares. Royal Bank of Canada set a $89.00 price objective on Royal Gold and gave the company a “buy” rating in a report on Monday, October 23rd. Zacks Investment Research upgraded shares of Royal Gold from a “hold” rating to a “strong-buy” rating and set a $94.00 target price for the company in a research note on Wednesday, December 6th. TD Securities cut their target price on shares of Royal Gold from $110.00 to $105.00 and set a “buy” rating for the company in a research note on Friday, December 29th. Canaccord Genuity downgraded shares of Royal Gold from a “buy” rating to a “hold” rating and cut their target price for the company from $109.00 to $99.00 in a research note on Thursday, December 28th. Finally, Eight Capital reiterated a “neutral” rating on shares of Royal Gold in a research note on Thursday, November 16th. Ten equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $95.46.

In other Royal Gold news, CFO Stefan Wenger sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, January 11th. The shares were sold at an average price of $85.00, for a total transaction of $127,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 4,500 shares of company stock valued at $387,750 over the last 90 days. Company insiders own 1.12% of the company’s stock.

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About Royal Gold

Royal Gold, Inc, together with its subsidiaries, is engaged in acquiring and managing precious metal streams, royalties and similar interests. The Company operates through two segments: Acquisition and Management of Stream Interests, and Acquisition and Management of Royalty Interests. Its assets are located in Canada, Chile, Dominican Republic, Mexico, the United States, Africa, Australia and Other.

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

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