10,339 Shares in Royal Gold, Inc. $RGLD Bought by Tocqueville Asset Management L.P.

Key Points

• Tocqueville Asset Management acquired 10,339 Royal Gold shares worth approximately $2.06 million during the second quarter. Institutional investors collectively own 83.65% of the company.
• Analyst views remain mixed: seven analysts rate Royal Gold a Buy, three a Hold and two a Sell, resulting in a consensus Hold rating and an average price target of $285.10.
• Royal Gold reported quarterly revenue of $468.98 million, up 114.9% year over year, and earnings of $2.56 per share, slightly above estimates. The company also declared a quarterly dividend of $0.475 per share, or $1.90 annualized.

Tocqueville Asset Management L.P. acquired a new stake in Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 10,339 shares of the basic materials company's stock, valued at approximately $2,064,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Axiom Investment Management LLC bought a new position in shares of Royal Gold in the first quarter worth about $25,000. Grove Bank & Trust grew its holdings in shares of Royal Gold by 88.6% during the 2nd quarter. Grove Bank & Trust now owns 132 shares of the basic materials company's stock valued at $26,000 after purchasing an additional 62 shares during the last quarter. Elyxium Wealth LLC bought a new stake in shares of Royal Gold during the 4th quarter valued at approximately $27,000. Gen Wealth Partners Inc acquired a new position in Royal Gold during the 4th quarter worth approximately $27,000. Finally, Scarborough Advisors LLC acquired a new position in Royal Gold during the 1st quarter worth approximately $32,000. Institutional investors own 83.65% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Jefferies Financial Group cut their target price on shares of Royal Gold from $318.00 to $311.00 and set a "buy" rating on the stock in a research report on Monday, July 6th. UBS Group upped their price target on shares of Royal Gold from $280.00 to $285.00 and gave the stock a "buy" rating in a report on Friday, August 7th. Weiss Ratings cut Royal Gold from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, August 4th. Royal Bank Of Canada cut their price objective on Royal Gold from $310.00 to $305.00 and set an "outperform" rating on the stock in a report on Thursday, July 9th. Finally, Scotiabank restated a "sector perform" rating and set a $310.00 price objective on shares of Royal Gold in a research report on Tuesday, July 14th. Seven analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $285.10.

Insider Activity at Royal Gold

In related news, SVP Randy Shefman sold 500 shares of the business's stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $215.85, for a total value of $107,925.00. Following the sale, the senior vice president owned 8,582 shares of the company's stock, valued at $1,852,424.70. The trade was a 5.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.35% of the company's stock.

Royal Gold Stock Up 1.7%

Shares of NASDAQ RGLD opened at $252.36 on Friday. The company has a 50 day simple moving average of $209.14 and a 200 day simple moving average of $236.44. The firm has a market cap of $21.38 billion, a PE ratio of 27.55, a price-to-earnings-growth ratio of 1.87 and a beta of 0.44. Royal Gold, Inc. has a 1 year low of $168.88 and a 1 year high of $306.25. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.92 and a quick ratio of 2.68.

Royal Gold (NASDAQ:RGLD - Get Free Report) TSE: RGL last posted its earnings results on Wednesday, August 5th. The basic materials company reported $2.56 EPS for the quarter, topping the consensus estimate of $2.55 by $0.01. Royal Gold had a net margin of 47.74% and a return on equity of 12.06%. The business had revenue of $468.98 million for the quarter, compared to the consensus estimate of $458.85 million. During the same period last year, the company earned $1.81 EPS. The firm's revenue was up 114.9% compared to the same quarter last year. On average, research analysts forecast that Royal Gold, Inc. will post 10.33 EPS for the current year.

Royal Gold Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Friday, October 2nd will be issued a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Friday, October 2nd. Royal Gold's payout ratio is 20.74%.

Royal Gold Company Profile

Royal Gold, Inc, headquartered in Denver, Colorado, is a leading precious metals streaming and royalty company. Through its business model, Royal Gold provides upfront financing to mining operators in exchange for the right to purchase a percentage of future metal production at predetermined prices. This structure allows the company to participate in production upside while minimizing exposure to the operating and capital-intensive aspects of mine ownership.

The company's portfolio encompasses interests in over 200 streams and royalties on projects across North America, South America, Europe, Africa and Australia.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source