Allworth Financial LP Acquires 5,088 Shares of Royal Gold, Inc. $RGLD

Key Points

• Allworth Financial increased its Royal Gold stake by 94.9% in the second quarter, purchasing 5,088 additional shares and ending the period with 10,449 shares valued at approximately $2.09 million. Institutional investors collectively own 83.65% of the company.
• Royal Gold reported quarterly EPS of $2.56, narrowly exceeding estimates, while revenue rose 114.9% year over year to $468.98 million. The company declared a quarterly dividend of $0.475, equivalent to an annualized $1.90 payout and a 0.8% yield.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $287.82, compared with the stock’s reported price of $252.28; however, some firms recently downgraded or reduced their price targets.

Allworth Financial LP lifted its holdings in shares of Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL by 94.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,449 shares of the basic materials company's stock after buying an additional 5,088 shares during the period. Allworth Financial LP's holdings in Royal Gold were worth $2,086,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. World Investment Advisors acquired a new stake in shares of Royal Gold in the 4th quarter valued at approximately $1,024,000. TD Asset Management Inc grew its position in shares of Royal Gold by 161.2% in the 4th quarter. TD Asset Management Inc now owns 43,836 shares of the basic materials company's stock valued at $9,744,000 after acquiring an additional 27,051 shares during the period. Vestcor Inc raised its holdings in shares of Royal Gold by 62.5% in the 4th quarter. Vestcor Inc now owns 32,177 shares of the basic materials company's stock valued at $7,153,000 after purchasing an additional 12,381 shares during the period. Clear Harbor Asset Management LLC acquired a new stake in Royal Gold in the 2nd quarter valued at about $1,083,000. Finally, L2 Asset Management LLC acquired a new position in Royal Gold during the second quarter worth approximately $1,147,000. Institutional investors own 83.65% of the company's stock.

Royal Gold Stock Down 0.7%

RGLD opened at $252.28 on Friday. Royal Gold, Inc. has a fifty-two week low of $168.88 and a fifty-two week high of $306.25. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.68 and a current ratio of 2.92. The company has a market capitalization of $21.38 billion, a P/E ratio of 27.54, a P/E/G ratio of 1.91 and a beta of 0.50. The stock has a fifty day moving average of $226.03 and a 200-day moving average of $235.24.

Royal Gold (NASDAQ:RGLD - Get Free Report) TSE: RGL last announced its earnings results on Wednesday, August 5th. The basic materials company reported $2.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.55 by $0.01. Royal Gold had a net margin of 47.74% and a return on equity of 12.06%. The company had revenue of $468.98 million during the quarter, compared to analysts' expectations of $458.85 million. During the same quarter in the previous year, the business posted $1.81 earnings per share. Royal Gold's quarterly revenue was up 114.9% on a year-over-year basis. On average, equities analysts expect that Royal Gold, Inc. will post 10.26 EPS for the current year.

Royal Gold Dividend Announcement

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

Insider Transactions at Royal Gold

In other Royal Gold news, SVP Randy Shefman sold 500 shares of the business's stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $262.80, for a total value of $131,400.00. Following the completion of the sale, the senior vice president owned 8,082 shares of the company's stock, valued at $2,123,949.60. The trade was a 5.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.35% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Weiss Ratings downgraded Royal Gold from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday, August 4th. Zacks Research upgraded shares of Royal Gold from a "strong sell" rating to a "hold" rating in a research note on Monday, September 7th. Royal Bank Of Canada lowered their price target on shares of Royal Gold from $310.00 to $305.00 and set an "outperform" rating on the stock in a report on Thursday, July 9th. 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. Finally, Jefferies Financial Group reduced their price objective on Royal Gold from $318.00 to $311.00 and set a "buy" rating for the company in a report on Monday, July 6th. Eight equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $287.82.

Royal Gold Profile

Royal Gold, Inc is a precious metals streaming and royalty company headquartered in Denver, Colorado. Rather than operating mines directly, the company provides financing to mining companies in exchange for the right to purchase a portion of the metals produced from certain projects at predetermined prices, or to receive revenue-based payments tied to mineral production.

Royal Gold's portfolio is organized into two primary businesses: streams and royalties. Its streaming agreements generally provide rights to purchase gold, silver, copper or other metals from mining operations, while its royalty interests entitle the company to a percentage of revenue or production from a mine without bearing the operator's ongoing costs.

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