5,601 Royal Gold, Inc. $RGLD Shares Acquired by Ethic Inc.

Key Points

• Ethic Inc. increased its Royal Gold stake by 11.1%, adding 5,601 shares and bringing its holdings to 56,130 shares, valued at about $13.25 million at quarter-end.
• Royal Gold reported quarterly EPS of $2.80 and revenue of $464.77 million, both above analyst expectations; revenue rose 84.4% year over year.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $309.67; eight analysts rate the stock Buy and three rate it Hold.

Ethic Inc. grew its stake in Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL by 11.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 56,130 shares of the basic materials company's stock after purchasing an additional 5,601 shares during the quarter. Ethic Inc. owned about 0.07% of Royal Gold worth $13,247,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of Royal Gold during the 2nd quarter valued at about $2,177,865,000. Bank of New York Mellon Corp purchased a new position in shares of Royal Gold during the second quarter valued at about $150,762,000. Findlay Park Partners LLP bought a new position in Royal Gold in the second quarter worth about $111,392,000. Bank of America Corp DE bought a new position in Royal Gold in the second quarter worth about $88,124,000. Finally, Deutsche Bank AG bought a new position in Royal Gold in the second quarter worth about $69,325,000. 83.65% of the stock is currently owned by institutional investors.

Royal Gold Price Performance

NASDAQ:RGLD opened at $265.81 on Monday. The firm's 50-day moving average price is $244.37 and its 200-day moving average price is $241.16. The company has a market capitalization of $22.52 billion, a PE ratio of 26.80, a P/E/G ratio of 1.92 and a beta of 0.46. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.40 and a quick ratio of 2.21. Royal Gold, Inc. has a 1-year low of $170.89 and a 1-year high of $306.25.

Royal Gold (NASDAQ:RGLD - Get Free Report) TSE: RGL last issued its quarterly earnings results on Wednesday, November 4th. The basic materials company reported $2.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.03. Royal Gold had a net margin of 47.69% and a return on equity of 11.67%. The company had revenue of $464.77 million during the quarter, compared to analyst estimates of $459.84 million. During the same period last year, the business earned $2.06 EPS. Royal Gold's quarterly revenue was up 84.4% compared to the same quarter last year. On average, equities analysts predict that Royal Gold, Inc. will post 10.71 EPS for the current fiscal year.

Royal Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 16th. Shareholders of record on Friday, October 2nd were issued a $0.4750 dividend. This represents a $1.90 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Friday, October 2nd. Royal Gold's dividend payout ratio is 19.15%.

Wall Street Analysts Forecast Growth

RGLD has been the topic of several research reports. TD cut their price objective on Royal Gold from $315.00 to $311.00 and set a "buy" rating on the stock in a research report on Tuesday, October 20th. Royal Bank Of Canada increased their target price on Royal Gold from $305.00 to $325.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 16th. UBS Group increased their target price on Royal Gold from $280.00 to $285.00 and gave the stock a "buy" rating in a research report on Friday, August 7th. Scotiabank restated a "sector perform" rating and issued a $310.00 target price on shares of Royal Gold in a research note on Tuesday, July 14th. Finally, Raymond James Financial set a $337.00 price target on Royal Gold in a research report on Friday. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $309.67.

Key Headlines Impacting Royal Gold

Here are the key news stories impacting Royal Gold this week:

• Positive Sentiment: Royal Gold reported third-quarter EPS of $2.80, above the $2.77 consensus, and revenue of $464.77 million, topping expectations and rising 84.4% year over year. Royal Gold Q3 earnings results
• Positive Sentiment: The company announced record cash flow and full repayment of its debt, strengthening its balance sheet and financial flexibility. Royal Gold reports record cash flow and repays debt
• Neutral Sentiment: Royal Gold outlined a roughly $43 million buyback of a Kinross Great Bear royalty interest, increasing its net smelter return royalty to 1.5%; it said its $1.4 billion revolving credit facility remains available. Royal Gold outlines Great Bear royalty transaction
• Negative Sentiment: Bank of America Securities maintained its sell rating, signaling continued analyst skepticism despite the strong quarter. Bank of America Securities keeps sell rating

Insiders Place Their Bets

In other Royal Gold news, SVP Randy Shefman sold 500 shares of the firm's stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $262.80, for a total transaction of $131,400.00. Following the completion of the transaction, the senior vice president owned 8,082 shares of the company's stock, valued at approximately $2,123,949.60. This trade represents a 5.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.35% of the company's stock.

Royal Gold Company Profile

Royal Gold, Inc is a precious metals company that finances mining operations through royalty and streaming agreements. Rather than operating mines itself, the company acquires interests that give it rights to payments or a share of future metal production from mines operated by other companies.

Under a streaming agreement, Royal Gold provides financing in exchange for the right to purchase a specified portion of a mine's future production at an agreed price. Its royalties generally entitle it to payments tied to a mine's production or revenue.

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