Bard Associates Inc. Takes $2.78 Million Position in Royal Gold, Inc. $RGLD

Key Points

• Bard Associates purchased a new 13,916-share position in Royal Gold during the second quarter, valued at approximately $2.78 million. Institutional investors collectively own 83.65% of the company.
• Royal Gold reported quarterly revenue of $468.98 million, up 114.9% year over year, and earnings of $2.56 per share, slightly exceeding analyst expectations. The company also declared a quarterly dividend of $0.475 per share, representing a 0.7% yield.
• Analyst sentiment remains mixed: seven analysts rate the stock a Buy, three a Hold and two a Sell, producing an overall “Hold” rating and an average price target of $285.10.

Bard Associates Inc. purchased a new stake in Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL in the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 13,916 shares of the basic materials company's stock, valued at approximately $2,778,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Plancorp LLC raised its holdings in shares of Royal Gold by 69.8% in the fourth quarter. Plancorp LLC now owns 13,732 shares of the basic materials company's stock worth $3,053,000 after buying an additional 5,646 shares during the period. World Investment Advisors purchased a new position in Royal Gold during the 4th quarter valued at $1,024,000. TD Asset Management Inc boosted its holdings in Royal Gold by 161.2% during 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 grew its position in 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 acquiring an additional 12,381 shares during the last quarter. Finally, WJ Financial Advisors LLC bought a new position in Royal Gold in the 4th quarter valued at $1,010,000. Hedge funds and other institutional investors own 83.65% of the company's stock.

Insider Activity

In related news, SVP Randy Shefman sold 500 shares of the 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 sale, the senior vice president directly owned 8,582 shares of the company's stock, valued at approximately $1,852,424.70. This represents a 5.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.35% of the stock is currently owned by corporate insiders.

Royal Gold Trading Up 2.6%

NASDAQ RGLD opened at $259.01 on Friday. Royal Gold, Inc. has a 52 week low of $168.88 and a 52 week high of $306.25. The company has a 50 day moving average price of $210.17 and a 200 day moving average price of $236.60. The company has a quick ratio of 2.68, a current ratio of 2.92 and a debt-to-equity ratio of 0.05. The firm has a market cap of $21.95 billion, a PE ratio of 28.28, a price-to-earnings-growth ratio of 1.90 and a beta of 0.44.

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 for the quarter, beating the consensus estimate 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 the consensus estimate of $458.85 million. During the same period last year, the firm earned $1.81 earnings per share. Royal Gold's revenue was up 114.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Royal Gold, Inc. will post 10.33 EPS for the current fiscal year.

Royal Gold Announces Dividend

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

Analyst Upgrades and Downgrades

Several research firms recently commented on RGLD. UBS Group raised their price target on shares of Royal Gold from $280.00 to $285.00 and gave the stock a "buy" rating in a research note on Friday, August 7th. Zacks Research downgraded shares of Royal Gold from a "hold" rating to a "strong sell" rating in a research note on Friday, July 31st. Jefferies Financial Group reduced their target price 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. Weiss Ratings downgraded shares of Royal Gold from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, August 4th. Finally, Royal Bank Of Canada lowered their price target on Royal Gold from $310.00 to $305.00 and set an "outperform" rating for the company in a report on Thursday, July 9th. Seven research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, Royal Gold presently has an average rating of "Hold" and an average price target of $285.10.

Royal Gold Company Profile

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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