Concurrent Investment Advisors LLC Takes $976,000 Position in Royal Gold, Inc. $RGLD

Key Points

• Concurrent Investment Advisors LLC established a new position in Royal Gold, buying 4,392 shares in the fourth quarter worth approximately $976,000.
• Royal Gold missed quarterly expectations, reporting EPS of $1.92 vs. $2.68 expected and revenue of $310.8M vs. $425.5M expected, although revenue was up 85.2% year-over-year.
• The company has a market capitalization of about $19.6 billion, pays an annualized dividend of $1.90 (yield ~0.8%), and is largely institutionally owned (83.65%) while insiders sold roughly 7,573 shares (~$2.13M) in the last 90 days.

Concurrent Investment Advisors LLC bought a new stake in Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 4,392 shares of the basic materials company's stock, valued at approximately $976,000.

Other large investors also recently bought and sold shares of the company. Goldman Sachs Group Inc. boosted its stake in shares of Royal Gold by 99.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 168,846 shares of the basic materials company's stock valued at $27,608,000 after buying an additional 84,206 shares during the period. Focus Partners Wealth raised its holdings in Royal Gold by 51.5% in the first quarter. Focus Partners Wealth now owns 8,465 shares of the basic materials company's stock valued at $1,384,000 after acquiring an additional 2,876 shares in the last quarter. Brown Advisory Inc. lifted its stake in Royal Gold by 28.9% in the second quarter. Brown Advisory Inc. now owns 3,551 shares of the basic materials company's stock worth $631,000 after acquiring an additional 796 shares during the last quarter. Qube Research & Technologies Ltd grew its holdings in Royal Gold by 43.0% during the 2nd quarter. Qube Research & Technologies Ltd now owns 188,247 shares of the basic materials company's stock worth $33,478,000 after acquiring an additional 56,621 shares in the last quarter. Finally, NewEdge Advisors LLC grew its holdings in Royal Gold by 4.6% during the 2nd quarter. NewEdge Advisors LLC now owns 24,551 shares of the basic materials company's stock worth $4,366,000 after acquiring an additional 1,072 shares in the last quarter. Hedge funds and other institutional investors own 83.65% of the company's stock.

Royal Gold Stock Down 1.2%

Royal Gold stock opened at $230.59 on Friday. The company has a market capitalization of $19.56 billion, a P/E ratio of 33.86, a PEG ratio of 1.36 and a beta of 0.44. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.91 and a current ratio of 3.12. Royal Gold, Inc. has a fifty-two week low of $150.75 and a fifty-two week high of $306.25. The stock has a 50-day simple moving average of $260.65 and a 200-day simple moving average of $237.30.

Royal Gold (NASDAQ:RGLD - Get Free Report) TSE: RGL last released its quarterly earnings results on Wednesday, February 18th. The basic materials company reported $1.92 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.68 by ($0.76). Royal Gold had a return on equity of 11.89% and a net margin of 45.26%.The firm had revenue of $310.83 million for the quarter, compared to analysts' expectations of $425.47 million. During the same quarter in the prior year, the business earned $1.63 EPS. The company's quarterly revenue was up 85.2% compared to the same quarter last year. Equities research analysts expect that Royal Gold, Inc. will post 12.5 earnings per share for the current year.

Royal Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 16th. Stockholders of record on Thursday, April 2nd were issued a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Thursday, April 2nd. Royal Gold's payout ratio is presently 27.90%.

Wall Street Analyst Weigh In

RGLD has been the topic of a number of analyst reports. National Bank Financial reduced their price objective on shares of Royal Gold from $350.00 to $340.00 and set an "outperform" rating on the stock in a report on Friday, April 17th. UBS Group set a $325.00 target price on Royal Gold and gave the company a "buy" rating in a report on Wednesday, April 15th. Canadian Imperial Bank of Commerce restated a "neutral" rating and issued a $330.00 price target on shares of Royal Gold in a research note on Wednesday, February 4th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Royal Gold in a report on Tuesday, April 21st. Finally, Zacks Research downgraded Royal Gold from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 17th. Eight research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $273.64.

Insider Activity at Royal Gold

In other news, Director Mark Isto sold 2,000 shares of the company's 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 of the company's stock, valued at approximately $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 accessible through this hyperlink. Also, Director William M. Hayes sold 4,173 shares of the stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $277.07, for a total transaction of $1,156,213.11. Following the sale, the director owned 6,129 shares of the company's stock, valued at $1,698,162.03. This trade represents a 40.51% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 7,573 shares of company stock worth $2,127,091 in the last 90 days. 0.35% of the stock is owned by insiders.

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.

Want to see what other hedge funds are holding RGLD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.