Bank of New York Mellon Corp Buys 209,851 Shares of Royal Gold, Inc. $RGLD

Key Points

• Bank of New York Mellon Corp increased its stake in Royal Gold by 33.6% in the fourth quarter, buying 209,851 shares and bringing its total holding to 834,789 shares worth about $185.6 million.
• Royal Gold shares were down 6.4%, opening at $206.07, well below their 50-day and 200-day moving averages of $241.41 and $244.70, respectively.
• The company announced a quarterly dividend of $0.475 per share, payable July 16, which annualizes to $1.90 per share and yields about 0.9%.

Bank of New York Mellon Corp lifted its stake in Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL by 33.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 834,789 shares of the basic materials company's stock after buying an additional 209,851 shares during the period. Bank of New York Mellon Corp owned about 0.99% of Royal Gold worth $185,565,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. SG Americas Securities LLC raised its position in Royal Gold by 52.8% during the 4th quarter. SG Americas Securities LLC now owns 17,671 shares of the basic materials company's stock valued at $3,928,000 after purchasing an additional 6,109 shares in the last quarter. Louisbourg Investments Inc. bought a new stake in Royal Gold during the 4th quarter valued at $3,938,000. Prospera Financial Services Inc bought a new stake in Royal Gold during the 3rd quarter valued at $1,068,000. Plancorp LLC boosted its position in Royal Gold by 69.8% during the 4th quarter. Plancorp LLC now owns 13,732 shares of the basic materials company's stock valued at $3,053,000 after acquiring an additional 5,646 shares in the last quarter. Finally, Neuberger Berman Group LLC boosted its position in Royal Gold by 22.9% during the 3rd quarter. Neuberger Berman Group LLC now owns 135,050 shares of the basic materials company's stock valued at $27,056,000 after acquiring an additional 25,187 shares in the last quarter. 83.65% of the stock is currently owned by institutional investors and hedge funds.

Royal Gold Stock Down 6.4%

Shares of NASDAQ RGLD opened at $206.07 on Friday. The firm has a market cap of $17.49 billion, a price-to-earnings ratio of 24.56, a price-to-earnings-growth ratio of 1.63 and a beta of 0.41. The company's 50-day simple moving average is $241.41 and its 200-day simple moving average is $244.70. Royal Gold, Inc. has a 52-week low of $150.75 and a 52-week high of $306.25. The company has a quick ratio of 3.26, a current ratio of 3.52 and a debt-to-equity ratio of 0.08.

Royal Gold Dividend Announcement

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

Analysts Set New Price Targets

A number of brokerages have recently issued reports on RGLD. National Bank Financial cut their price objective on shares of Royal Gold from $350.00 to $340.00 and set an "outperform" rating on the stock in a research report on Friday, April 17th. UBS Group set a $325.00 price objective on shares of Royal Gold and gave the stock a "buy" rating in a research report on Wednesday, April 15th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Royal Gold in a research report on Tuesday, April 21st. Finally, Zacks Research downgraded Royal Gold from a "hold" rating to a "strong sell" rating in a research report on Tuesday, May 5th. Eight equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $273.64.

Insider Transactions at Royal Gold

In other news, Director Mark Isto sold 2,000 shares of the stock in a transaction dated Thursday, March 12th. The shares were 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 $5,508,417.69. This represents a 9.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Randy Shefman sold 1,000 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were 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 directly owned 9,082 shares of the company's stock, valued at approximately $2,213,646.68. This represents a 9.92% decrease in their position. The SEC filing for this sale provides additional information. 0.35% of the stock is owned by corporate insiders.

About Royal Gold

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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