Dark Forest Capital Management LP Purchases 37,813 Shares of Royal Gold, Inc. $RGLD

Key Points

• Dark Forest Capital Management LP increased its shares of Royal Gold, Inc. by 724.2% in Q1, acquiring an additional 37,813 shares to total 43,034, representing 0.3% of its portfolio.
• Royal Gold announced a quarterly dividend of $0.45 per share, yielding 1.0% with a payout ratio of 26.39%, to be paid on October 17th.
• The company's earnings for the last quarter surpassed expectations, reporting $1.81 per share against a consensus of $1.70, with revenue increasing 20.4% year-over-year to $209.64 million.

Dark Forest Capital Management LP boosted its holdings in shares of Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL by 724.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,034 shares of the basic materials company's stock after purchasing an additional 37,813 shares during the period. Royal Gold accounts for approximately 0.3% of Dark Forest Capital Management LP's holdings, making the stock its 23rd largest holding. Dark Forest Capital Management LP owned approximately 0.07% of Royal Gold worth $7,036,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of RGLD. GAMMA Investing LLC raised its position in Royal Gold by 17,722.4% in the 1st quarter. GAMMA Investing LLC now owns 457,501 shares of the basic materials company's stock worth $74,806,000 after purchasing an additional 454,934 shares during the last quarter. Select Equity Group L.P. bought a new position in Royal Gold in the 4th quarter worth approximately $55,825,000. Nuveen LLC bought a new position in Royal Gold in the 1st quarter worth approximately $40,882,000. Victory Capital Management Inc. raised its position in Royal Gold by 117.0% in the 1st quarter. Victory Capital Management Inc. now owns 415,179 shares of the basic materials company's stock worth $67,886,000 after purchasing an additional 223,870 shares during the last quarter. Finally, Copeland Capital Management LLC raised its position in Royal Gold by 106,046.2% in the 1st quarter. Copeland Capital Management LLC now owns 137,990 shares of the basic materials company's stock worth $22,563,000 after purchasing an additional 137,860 shares during the last quarter. Institutional investors own 83.65% of the company's stock.

Analyst Ratings Changes

Several research analysts recently weighed in on RGLD shares. Wall Street Zen upgraded shares of Royal Gold from a "hold" rating to a "buy" rating in a research report on Saturday, August 30th. TD Securities restated a "buy" rating and issued a $237.00 price objective (up previously from $229.00) on shares of Royal Gold in a research report on Friday, August 8th. BMO Capital Markets set a $197.00 target price on shares of Royal Gold and gave the stock a "market perform" rating in a report on Thursday, May 22nd. Zacks Research lowered shares of Royal Gold from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 19th. Finally, Canaccord Genuity Group lifted their price objective on Royal Gold from $202.00 to $203.00 in a research note on Wednesday, June 11th. Five investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $198.63.

Royal Gold Stock Up 2.4%

Shares of Royal Gold stock traded up $4.40 during trading on Friday, reaching $184.86. 947,909 shares of the company were exchanged, compared to its average volume of 697,302. Royal Gold, Inc. has a twelve month low of $130.67 and a twelve month high of $191.78. The firm has a market capitalization of $12.17 billion, a price-to-earnings ratio of 27.11, a P/E/G ratio of 1.32 and a beta of 0.43. The business has a 50-day moving average price of $167.09 and a 200-day moving average price of $168.75.

Royal Gold (NASDAQ:RGLD - Get Free Report) TSE: RGL last announced its quarterly earnings results on Wednesday, August 6th. The basic materials company reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.11. Royal Gold had a net margin of 56.24% and a return on equity of 13.30%. The company had revenue of $209.64 million during the quarter, compared to analyst estimates of $186.63 million. During the same quarter in the previous year, the business earned $1.25 EPS. The firm's revenue was up 20.4% on a year-over-year basis. On average, equities research analysts forecast that Royal Gold, Inc. will post 6.2 EPS for the current fiscal year.

Royal Gold Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Friday, October 3rd will be paid a $0.45 dividend. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $1.80 dividend on an annualized basis and a yield of 1.0%. Royal Gold's dividend payout ratio is presently 26.39%.

Royal Gold Company Profile

Royal Gold, Inc, together with its subsidiaries, acquires and manages precious metal streams, royalties, and related interests. The company engages in acquiring stream and royalty interests or to finance projects that are in production, development, or in the exploration stage in exchange for stream or royalty interests, which primarily consists of gold, silver, copper, nickel, zinc, lead, and other metals.