Clear Harbor Asset Management LLC Takes $1.25 Million Position in Royal Gold, Inc. $RGLD

Key Points

• Clear Harbor Asset Management initiated a new position in Royal Gold, buying 5,628 shares valued at about $1.25 million in the fourth quarter.
• Royal Gold has seen continued institutional buying, with 83.65% of its stock now held by institutional investors, though some insiders have recently sold shares.
• The company recently announced a quarterly dividend of $0.475 per share, and analysts currently rate the stock a Moderate Buy with a consensus price target of $273.64.

Clear Harbor Asset Management LLC bought a new stake in shares of Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 5,628 shares of the basic materials company's stock, valued at approximately $1,251,000.

A number of other institutional investors also recently bought and sold shares of the stock. Greenleaf Trust lifted its position in Royal Gold by 2.9% in the fourth quarter. Greenleaf Trust now owns 1,538 shares of the basic materials company's stock worth $342,000 after buying an additional 43 shares during the last quarter. WPG Advisers LLC lifted its position in Royal Gold by 34.1% in the fourth quarter. WPG Advisers LLC now owns 181 shares of the basic materials company's stock worth $40,000 after buying an additional 46 shares during the last quarter. Parcion Private Wealth LLC lifted its position in Royal Gold by 2.9% in the fourth quarter. Parcion Private Wealth LLC now owns 1,701 shares of the basic materials company's stock worth $378,000 after buying an additional 48 shares during the last quarter. Avidian Wealth Enterprises LLC lifted its position in Royal Gold by 2.0% in the fourth quarter. Avidian Wealth Enterprises LLC now owns 2,689 shares of the basic materials company's stock worth $598,000 after buying an additional 54 shares during the last quarter. Finally, Compound Planning Inc. lifted its position in Royal Gold by 4.4% in the third quarter. Compound Planning Inc. now owns 1,315 shares of the basic materials company's stock worth $264,000 after buying an additional 56 shares during the last quarter. 83.65% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Royal Gold

In other news, SVP Randy Shefman sold 1,000 shares of the firm's stock in a transaction on Monday, May 11th. The stock was sold at an average price of $243.74, for a total transaction of $243,740.00. Following the transaction, the senior vice president owned 9,082 shares in the company, valued at approximately $2,213,646.68. This trade represents a 9.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Mark Isto sold 2,000 shares of the firm's stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $274.83, for a total value of $549,660.00. Following the transaction, the director owned 20,043 shares in the company, valued at approximately $5,508,417.69. This represents a 9.07% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.35% of the company's stock.

Royal Gold Stock Performance

RGLD stock opened at $217.86 on Tuesday. The company has a quick ratio of 3.26, a current ratio of 3.52 and a debt-to-equity ratio of 0.08. The business's fifty day simple moving average is $242.13 and its two-hundred day simple moving average is $244.35. Royal Gold, Inc. has a twelve month low of $150.75 and a twelve month high of $306.25. The firm has a market cap of $18.49 billion, a price-to-earnings ratio of 25.97, a PEG ratio of 1.67 and a beta of 0.42.

Royal Gold Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 16th. Stockholders of record on Thursday, July 2nd will be paid a dividend of $0.475 per share. The ex-dividend date is Thursday, July 2nd. This represents a $1.90 annualized dividend and a dividend yield of 0.9%. Royal Gold's dividend payout ratio (DPR) is currently 22.65%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Zacks Research downgraded Royal Gold from a "hold" rating to a "strong sell" rating in a research report on Tuesday, May 5th. Canadian Imperial Bank of Commerce restated a "neutral" rating and issued a $330.00 price target on shares of Royal Gold in a research report on Wednesday, February 4th. Weiss Ratings restated a "buy (b)" rating on shares of Royal Gold in a research report on Tuesday, April 21st. National Bank Financial lowered their price target on Royal Gold from $350.00 to $340.00 and set an "outperform" rating for the company in a research report on Friday, April 17th. Finally, UBS Group set a $325.00 target price on Royal Gold and gave the stock a "buy" rating in a research note on Wednesday, April 15th. Eight equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Royal Gold presently has a consensus rating of "Moderate Buy" and a consensus price target of $273.64.

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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