Clear Harbor Asset Management LLC Acquires New Position in Royal Gold, Inc. $RGLD

Key Points

• Clear Harbor Asset Management acquired 5,425 Royal Gold shares worth approximately $1.08 million in the second quarter. Institutional investors collectively own 83.65% of the company.
• Analysts have a mixed outlook, with a consensus rating of “Hold” and an average price target of $285.10; ratings range from “Strong Sell” to “Buy.”
• Royal Gold exceeded quarterly earnings and revenue estimates, reporting $2.56 EPS and $468.98 million in revenue, while revenue surged 114.9% year over year. The company also declared a quarterly dividend of $0.475 per share, a 0.7% yield.

Clear Harbor Asset Management LLC acquired 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 filing with the Securities and Exchange Commission. The institutional investor acquired 5,425 shares of the basic materials company's stock, valued at approximately $1,083,000.

A number of other institutional investors have also bought and sold shares of the business. Plancorp LLC raised its position in shares of 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 buying an additional 5,646 shares during the period. World Investment Advisors acquired a new position in Royal Gold in the fourth quarter valued at approximately $1,024,000. TD Asset Management Inc grew its position in Royal Gold by 161.2% in the fourth quarter. TD Asset Management Inc now owns 43,836 shares of the basic materials company's stock worth $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 fourth quarter. Vestcor Inc now owns 32,177 shares of the basic materials company's stock worth $7,153,000 after acquiring an additional 12,381 shares during the period. Finally, WJ Financial Advisors LLC purchased a new position in Royal Gold in the fourth quarter worth approximately $1,010,000. 83.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on RGLD shares. Scotiabank reissued a "sector perform" rating and set a $310.00 target price on shares of Royal Gold in a research note on Tuesday, July 14th. Jefferies Financial Group decreased their price target on Royal Gold from $318.00 to $311.00 and set a "buy" rating on the stock in a research note on Monday, July 6th. UBS Group increased their price target on Royal Gold from $280.00 to $285.00 and gave the stock a "buy" rating in a report on Friday, August 7th. Zacks Research downgraded Royal Gold from a "hold" rating to a "strong sell" rating in a research report on Friday, July 31st. Finally, Royal Bank Of Canada reduced their price objective on shares of Royal Gold from $310.00 to $305.00 and set an "outperform" rating on the stock in a report on Thursday, July 9th. Seven analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Royal Gold currently has a consensus rating of "Hold" and a consensus target price of $285.10.

Royal Gold Stock Performance

Shares of RGLD 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. The firm has a market cap of $21.95 billion, a P/E ratio of 28.28, a P/E/G ratio of 1.95 and a beta of 0.44. The firm's 50 day moving average price is $210.17 and its 200-day moving average price is $236.60. Royal Gold, Inc. has a one year low of $168.88 and a one year high of $306.25.

Royal Gold (NASDAQ:RGLD - Get Free Report) TSE: RGL last posted 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. The firm had revenue of $468.98 million during the quarter, compared to the consensus estimate of $458.85 million. Royal Gold had a net margin of 47.74% and a return on equity of 12.06%. The firm's revenue for the quarter was up 114.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.81 EPS. As a group, equities research analysts predict that Royal Gold, Inc. will post 10.32 EPS for the current year.

Royal Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Friday, October 2nd will be issued 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 payout ratio is currently 20.74%.

Insider Activity

In related news, SVP Randy Shefman sold 500 shares of the stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $215.85, for a total transaction of $107,925.00. Following the transaction, the senior vice president owned 8,582 shares of the company's stock, valued at approximately $1,852,424.70. This represents a 5.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.35% of the company's stock.

Royal Gold 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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