Allworth Financial LP acquired a new position in shares of Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 10,449 shares of the basic materials company's stock, valued at approximately $2,086,000.
Several other large investors have also added to or reduced their stakes in RGLD. Bank of Nova Scotia lifted its stake in Royal Gold by 2.9% during the 1st quarter. Bank of Nova Scotia now owns 1,526 shares of the basic materials company's stock valued at $388,000 after acquiring an additional 43 shares during the period. Apollon Wealth Management LLC lifted its position in Royal Gold by 1.5% during the first quarter. Apollon Wealth Management LLC now owns 2,905 shares of the basic materials company's stock valued at $739,000 after purchasing an additional 44 shares during the period. WPG Advisers LLC boosted its holdings in Royal Gold by 34.1% in the fourth quarter. WPG Advisers LLC now owns 181 shares of the basic materials company's stock valued at $40,000 after purchasing an additional 46 shares during the last quarter. Hilltop Holdings Inc. boosted its holdings in Royal Gold by 0.6% in the first quarter. Hilltop Holdings Inc. now owns 7,432 shares of the basic materials company's stock valued at $1,891,000 after purchasing an additional 46 shares during the last quarter. Finally, Compound Planning Inc. grew its position in Royal Gold by 3.3% during the 1st quarter. Compound Planning Inc. now owns 1,493 shares of the basic materials company's stock worth $380,000 after purchasing an additional 47 shares during the period. Hedge funds and other institutional investors own 83.65% of the company's stock.
Analysts Set New Price Targets
A number of analysts have recently commented on the company. Royal Bank Of Canada lowered their target price on Royal Gold from $310.00 to $305.00 and set an "outperform" rating on the stock in a research note on Thursday, July 9th. UBS Group boosted their target price on shares of Royal Gold from $280.00 to $285.00 and gave the company a "buy" rating in a research note on Friday, August 7th. Scotiabank reissued a "sector perform" rating and set a $310.00 price target on shares of Royal Gold in a report on Tuesday, July 14th. Jefferies Financial Group dropped their price target 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. Finally, Weiss Ratings lowered Royal Gold from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, August 4th. Seven equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $285.10.
Get Our Latest Research Report on Royal Gold
Royal Gold Trading Up 2.6%
Shares of Royal Gold stock opened at $259.01 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.68 and a current ratio of 2.92. Royal Gold, Inc. has a 1 year low of $168.88 and a 1 year high of $306.25. The company's fifty day moving average is $210.17 and its two-hundred day moving average is $236.60. The company has a market capitalization of $21.95 billion, a P/E ratio of 28.28, a PEG ratio of 1.90 and a beta of 0.44.
Royal Gold (NASDAQ:RGLD - Get Free Report) TSE: RGL last released its earnings results on Wednesday, August 5th. The basic materials company reported $2.56 EPS for the quarter, beating analysts' consensus estimates of $2.55 by $0.01. Royal Gold had a return on equity of 12.06% and a net margin of 47.74%.The company had revenue of $468.98 million during the quarter, compared to the consensus estimate of $458.85 million. During the same quarter last year, the company earned $1.81 earnings per share. Royal Gold's quarterly revenue was up 114.9% compared to the same quarter last year. Analysts forecast that Royal Gold, Inc. will post 10.33 earnings per share for the current year.
Royal Gold Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Shareholders of record on Friday, October 2nd will be issued a $0.475 dividend. The ex-dividend date is Friday, October 2nd. This represents a $1.90 annualized dividend and a yield of 0.7%. Royal Gold's payout ratio is 20.74%.
Insiders Place Their Bets
In related news, SVP Randy Shefman sold 500 shares of the stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $215.85, for a total value of $107,925.00. Following the transaction, the senior vice president directly owned 8,582 shares of the company's stock, valued at approximately $1,852,424.70. This trade represents a 5.51% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.35% of the company's stock.
About Royal Gold
(
Free Report)
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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