Connor Clark & Lunn Investment Management Ltd. Invests $952,000 in Royal Gold, Inc. $RGLD

Key Points

• Connor Clark & Lunn Investment Management purchased 4,771 Royal Gold shares worth approximately $952,000 during the second quarter. Institutional investors collectively own 83.65% of the company.
• Royal Gold reported quarterly EPS of $2.56, slightly above estimates, while revenue rose 114.9% year over year to $468.98 million. The company declared a quarterly dividend of $0.475 per share, equivalent to a 0.7% annual yield.
• RGLD opened at $262.85, below its 12-month high of $306.25. Analysts maintain a consensus “Hold” rating with an average price target of $285.10, despite several Buy ratings and recent downgrades from other firms.

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 4,771 shares of the basic materials company's stock, valued at approximately $952,000.

A number of other institutional investors also recently bought and sold shares of the stock. Plancorp LLC boosted its position in shares of Royal Gold by 69.8% during the fourth quarter. Plancorp LLC now owns 13,732 shares of the basic materials company's stock valued at $3,053,000 after purchasing an additional 5,646 shares in the last quarter. World Investment Advisors purchased a new stake in Royal Gold in the fourth quarter worth $1,024,000. TD Asset Management Inc raised its holdings 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 purchasing an additional 27,051 shares in the last quarter. Vestcor Inc raised its holdings 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 purchasing an additional 12,381 shares in the last quarter. Finally, WJ Financial Advisors LLC purchased a new position in Royal Gold during the fourth quarter valued at $1,010,000. 83.65% of the stock is owned by institutional investors.

Royal Gold Price Performance

RGLD stock opened at $262.85 on Monday. The business has a 50 day moving average of $215.06 and a 200 day moving average of $236.44. The firm has a market cap of $22.27 billion, a PE ratio of 28.70, a price-to-earnings-growth ratio of 1.98 and a beta of 0.44. Royal Gold, Inc. has a twelve month low of $168.88 and a twelve month high of $306.25. The company has a quick ratio of 2.68, a current ratio of 2.92 and a debt-to-equity ratio of 0.05.

Royal Gold (NASDAQ:RGLD - Get Free Report) TSE: RGL last released its earnings results on Wednesday, August 5th. The basic materials company reported $2.56 EPS for the quarter, topping the consensus estimate of $2.55 by $0.01. Royal Gold had a return on equity of 12.06% and a net margin of 47.74%.The business had revenue of $468.98 million for the quarter, compared to the consensus estimate of $458.85 million. During the same period in the previous year, the company posted $1.81 earnings per share. The company's revenue for the quarter was up 114.9% compared to the same quarter last year. On average, research analysts forecast that Royal Gold, Inc. will post 10.26 EPS for the current fiscal year.

Royal Gold Dividend Announcement

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

Wall Street Analyst Weigh In

A number of brokerages have recently commented on RGLD. UBS Group boosted their target price on shares of Royal Gold from $280.00 to $285.00 and gave the company a "buy" rating in a report on Friday, August 7th. Jefferies Financial Group decreased their price target on shares of Royal Gold from $318.00 to $311.00 and set a "buy" rating for the company in a research note on Monday, July 6th. Weiss Ratings cut shares of Royal Gold from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday, August 4th. Royal Bank Of Canada dropped their price objective on shares of Royal Gold from $310.00 to $305.00 and set an "outperform" rating on the stock in a research note on Thursday, July 9th. Finally, Zacks Research cut shares of Royal Gold from a "hold" rating to a "strong sell" rating in a report on Friday, July 31st. Seven equities research 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, the company has an average rating of "Hold" and an average price target of $285.10.

Insider Activity

In related news, SVP Randy Shefman sold 500 shares of the company's stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $262.80, for a total value of $131,400.00. Following the transaction, the senior vice president owned 8,082 shares in the company, valued at $2,123,949.60. The trade was a 5.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.35% of the stock is currently owned by corporate 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.

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