Bank of America Corp DE Purchases Shares of 441,482 Royal Gold, Inc. $RGLD

Key Points

• Bank of America acquired 441,482 Royal Gold shares worth approximately $88.1 million in the second quarter, giving it about a 0.52% stake. Institutional investors collectively own 83.65% of the company.
• Royal Gold reported quarterly EPS of $2.56, slightly above estimates, while revenue rose 114.9% year over year to $468.98 million. The company also declared a quarterly dividend of $0.475 per share, representing a 0.8% yield.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $289.64; Royal Gold shares recently traded at $249.65.

Bank of America Corp DE acquired a new position in shares of Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 441,482 shares of the basic materials company's stock, valued at approximately $88,124,000. Bank of America Corp DE owned approximately 0.52% of Royal Gold at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Bank of Nova Scotia raised its position in Royal Gold by 2.9% in the 1st quarter. Bank of Nova Scotia now owns 1,526 shares of the basic materials company's stock worth $388,000 after purchasing an additional 43 shares during the period. Apollon Wealth Management LLC boosted its holdings in shares of 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 worth $739,000 after purchasing an additional 44 shares during the period. Hilltop Holdings Inc. grew its stake in shares of Royal Gold by 0.6% in the first quarter. Hilltop Holdings Inc. now owns 7,432 shares of the basic materials company's stock worth $1,891,000 after purchasing an additional 46 shares during the last quarter. Compound Planning Inc. increased its holdings 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 valued at $380,000 after purchasing an additional 47 shares during the period. Finally, Strs Ohio increased its holdings in Royal Gold by 0.6% during the 1st quarter. Strs Ohio now owns 8,611 shares of the basic materials company's stock valued at $2,191,000 after purchasing an additional 48 shares during the period. 83.65% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Royal Gold

In related news, SVP Randy Shefman sold 500 shares of the stock in a transaction that occurred on Friday, August 28th. The stock was 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 directly owned 8,082 shares of the company's stock, valued at approximately $2,123,949.60. This represents a 5.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.35% of the stock is currently owned by insiders.

Royal Gold Stock Performance

NASDAQ RGLD opened at $249.65 on Friday. The company has a quick ratio of 2.68, a current ratio of 2.92 and a debt-to-equity ratio of 0.05. Royal Gold, Inc. has a twelve month low of $168.88 and a twelve month high of $306.25. The business has a 50-day moving average price of $231.23 and a 200-day moving average price of $233.78. The firm has a market cap of $21.15 billion, a price-to-earnings ratio of 27.25, a price-to-earnings-growth ratio of 1.89 and a beta of 0.50.

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

Royal Gold Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. TD increased their price objective on Royal Gold from $289.00 to $315.00 and gave the stock a "buy" rating in a report on Friday. Royal Bank Of Canada boosted their price objective on shares of Royal Gold from $305.00 to $325.00 and gave the company an "outperform" rating in a research report on Wednesday. Zacks Research upgraded shares of Royal Gold from a "strong sell" rating to a "hold" rating in a report on Monday, September 7th. UBS Group raised their target price on shares of Royal Gold from $280.00 to $285.00 and gave the stock a "buy" rating in a research report on Friday, August 7th. Finally, Jefferies Financial Group reduced 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. Eight research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $289.64.

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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