134,071 Shares in Royal Gold, Inc. $RGLD Bought by Norges Bank

Key Points

• Norges Bank opened a new position in Royal Gold, buying 134,071 shares valued at about $29.8 million in the fourth quarter.
• Royal Gold remains heavily owned by institutions, with major holders like Vanguard, Capital World Investors, and Van ECK all increasing or maintaining sizable stakes; institutional investors collectively own 83.65% of the stock.
• The company recently declared a quarterly dividend of $0.475 per share, equal to a $1.90 annualized payout and a 0.9% yield, while analysts currently rate the stock a consensus Moderate Buy with a $273.64 price target.

Norges Bank purchased a new position in Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 134,071 shares of the basic materials company's stock, valued at approximately $29,803,000. Norges Bank owned approximately 0.16% of Royal Gold as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Capital World Investors grew its holdings in Royal Gold by 1.0% during the 3rd quarter. Capital World Investors now owns 9,055,075 shares of the basic materials company's stock valued at $1,816,267,000 after buying an additional 93,282 shares in the last quarter. Vanguard Group Inc. grew its holdings in Royal Gold by 25.0% during the 4th quarter. Vanguard Group Inc. now owns 8,398,944 shares of the basic materials company's stock valued at $1,867,001,000 after buying an additional 1,681,577 shares in the last quarter. Van ECK Associates Corp grew its holdings in Royal Gold by 104.1% during the 3rd quarter. Van ECK Associates Corp now owns 4,994,944 shares of the basic materials company's stock valued at $1,001,885,000 after buying an additional 2,547,076 shares in the last quarter. State Street Corp grew its holdings in Royal Gold by 5.4% during the 3rd quarter. State Street Corp now owns 3,321,868 shares of the basic materials company's stock valued at $666,300,000 after buying an additional 170,430 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in Royal Gold by 4.2% during the 4th quarter. Geode Capital Management LLC now owns 1,952,363 shares of the basic materials company's stock valued at $434,063,000 after buying an additional 78,344 shares in the last quarter. 83.65% of the stock is owned by institutional investors.

Royal Gold Stock Performance

Shares of NASDAQ:RGLD opened at $204.79 on Wednesday. The company has a market capitalization of $17.38 billion, a price-to-earnings ratio of 24.41, a PEG ratio of 1.53 and a beta of 0.41. Royal Gold, Inc. has a 12 month low of $150.75 and a 12 month high of $306.25. The firm's 50-day moving average is $240.26 and its 200 day moving average is $245.38. The company has a current ratio of 3.52, a quick ratio of 3.26 and a debt-to-equity ratio of 0.08.

Royal Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 16th. Shareholders of record on Thursday, July 2nd will be given a $0.475 dividend. This represents a $1.90 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Thursday, July 2nd. Royal Gold's dividend payout ratio is 22.65%.

Wall Street Analysts Forecast Growth

RGLD has been the subject of a number of research analyst reports. Zacks Research lowered shares of Royal Gold from a "hold" rating to a "strong sell" rating in a report on Tuesday, May 5th. UBS Group set a $325.00 price objective on Royal Gold and gave the stock a "buy" rating in a report on Wednesday, April 15th. National Bank Financial lowered their target price on Royal Gold from $350.00 to $340.00 and set an "outperform" rating for the company in a research report on Friday, April 17th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Royal Gold in a report on Tuesday, April 21st. Eight equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $273.64.

Insider Buying and Selling at Royal Gold

In other Royal Gold news, Director Mark Isto sold 2,000 shares of the company's stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $274.83, for a total value of $549,660.00. Following the completion of the sale, the director directly owned 20,043 shares in the company, valued at approximately $5,508,417.69. This represents a 9.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Randy Shefman sold 1,000 shares of the company's stock in a transaction on Monday, May 11th. The stock was sold at an average price of $243.74, for a total value of $243,740.00. Following the completion of the sale, the senior vice president owned 9,082 shares of the company's stock, valued at $2,213,646.68. This represents a 9.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.35% of the company's stock.

Royal Gold 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.

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