Bank of New York Mellon Corp Takes $150.76 Million Position in Royal Gold, Inc. $RGLD

Key Points

• Bank of New York Mellon acquired 755,281 Royal Gold shares worth approximately $150.8 million, representing about 0.89% of the company. Institutional investors collectively own 83.65% of RGLD.
• Royal Gold exceeded quarterly expectations, reporting $2.56 in earnings per share and $468.98 million in revenue, with revenue up 114.9% year over year.
• Analyst sentiment is mixed, with an average rating of “Hold” and a consensus price target of $285.10. Royal Gold also declared a quarterly dividend of $0.475 per share, yielding approximately 0.7% annually.

Bank of New York Mellon Corp bought a new position in shares of Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 755,281 shares of the basic materials company's stock, valued at approximately $150,762,000. Bank of New York Mellon Corp owned approximately 0.89% of Royal Gold as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of RGLD. Vanguard Group Inc. lifted its stake in shares of Royal Gold by 25.0% in the 4th quarter. Vanguard Group Inc. now owns 8,398,944 shares of the basic materials company's stock valued at $1,867,001,000 after purchasing an additional 1,681,577 shares during the last quarter. Capital International Investors bought a new stake in shares of Royal Gold in the fourth quarter valued at about $332,026,000. Van ECK Associates Corp lifted its holdings in shares of Royal Gold by 18.1% during the 4th quarter. Van ECK Associates Corp now owns 5,900,432 shares of the basic materials company's stock worth $1,311,607,000 after acquiring an additional 905,488 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in Royal Gold by 89.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,855,877 shares of the basic materials company's stock valued at $412,543,000 after purchasing an additional 874,329 shares in the last quarter. Finally, Nuveen LLC increased its position in shares of Royal Gold by 457.5% during the 4th quarter. Nuveen LLC now owns 925,906 shares of the basic materials company's stock worth $205,820,000 after purchasing an additional 759,810 shares in the last quarter. Hedge funds and other institutional investors own 83.65% of the company's stock.

Insider Transactions at Royal Gold

In other Royal Gold news, SVP Randy Shefman sold 500 shares of Royal Gold stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $215.85, for a total transaction of $107,925.00. Following the transaction, the senior vice president directly owned 8,582 shares of the company's stock, valued at $1,852,424.70. The trade was a 5.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.35% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. UBS Group upped their price target 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. Royal Bank Of Canada decreased their target price on Royal Gold from $310.00 to $305.00 and set an "outperform" rating for the company in a research note on Thursday, July 9th. Weiss Ratings lowered shares of Royal Gold from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday, August 4th. Zacks Research cut shares of Royal Gold from a "hold" rating to a "strong sell" rating in a report on Friday, July 31st. Finally, Jefferies Financial Group dropped their price target on Royal Gold from $318.00 to $311.00 and set a "buy" rating for the company in a report on Monday, July 6th. Seven analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Royal Gold currently has an average rating of "Hold" and an average price target of $285.10.

Royal Gold Price Performance

Shares of RGLD opened at $259.01 on Monday. The company has a market capitalization of $21.95 billion, a PE ratio of 28.28, a PEG ratio of 1.95 and a beta of 0.44. The company has a current ratio of 2.92, a quick ratio of 2.68 and a debt-to-equity ratio of 0.05. Royal Gold, Inc. has a 12 month low of $168.88 and a 12 month high of $306.25. The stock's 50-day moving average price is $210.17 and its two-hundred day moving average price is $236.44.

Royal Gold (NASDAQ:RGLD - Get Free Report) TSE: RGL last issued its earnings results on Wednesday, August 5th. The basic materials company reported $2.56 earnings per share for the quarter, topping analysts' consensus estimates 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% on a year-over-year basis. During the same period in the previous year, the company posted $1.81 earnings per share. On average, analysts anticipate that Royal Gold, Inc. will post 10.32 EPS for the current year.

Royal Gold Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Friday, October 2nd will be issued a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Friday, October 2nd. Royal Gold's dividend payout ratio (DPR) is currently 20.74%.

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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