Element Capital Management LLC Takes Position in Royal Gold, Inc. $RGLD

Key Points

• Element Capital Management LLC has invested approximately $2.8 million in Royal Gold, acquiring 17,113 shares, making it the firm's 16th largest holding at 0.7% of their portfolio.
• Royal Gold's latest quarterly earnings report showed earnings per share (EPS) of $1.81, which beat analysts' consensus estimates and marked a 20.4% year-over-year revenue increase.
• The company has a quarterly dividend of $0.45 per share, translating to an annual payout of $1.80 and a yield of 1.1%, with a dividend payout ratio of 26.39%.

Element Capital Management LLC purchased a new stake in shares of Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 17,113 shares of the basic materials company's stock, valued at approximately $2,798,000. Royal Gold makes up about 0.7% of Element Capital Management LLC's investment portfolio, making the stock its 16th biggest position.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Dimensional Fund Advisors LP raised its holdings in shares of Royal Gold by 6.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 933,488 shares of the basic materials company's stock valued at $152,628,000 after purchasing an additional 55,685 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in Royal Gold in the 1st quarter worth $40,000. Prudential PLC raised its holdings in Royal Gold by 6.6% in the 1st quarter. Prudential PLC now owns 39,428 shares of the basic materials company's stock worth $6,447,000 after acquiring an additional 2,440 shares during the period. Informed Momentum Co LLC bought a new position in Royal Gold in the 1st quarter worth $4,004,000. Finally, Nuveen LLC bought a new position in Royal Gold in the 1st quarter worth $40,882,000. Institutional investors own 83.65% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on RGLD. Canaccord Genuity Group lifted their target price on shares of Royal Gold from $202.00 to $203.00 in a report on Wednesday, June 11th. Wall Street Zen downgraded shares of Royal Gold from a "buy" rating to a "hold" rating in a report on Saturday. BMO Capital Markets set a $197.00 target price on shares of Royal Gold and gave the company a "market perform" rating in a research note on Thursday, May 22nd. CIBC increased their target price on shares of Royal Gold from $202.00 to $215.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. Finally, TD Securities reiterated a "buy" rating and issued a $237.00 target price (up previously from $229.00) on shares of Royal Gold in a research note on Friday, August 8th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $198.63.

Royal Gold Trading Up 1.1%

Shares of RGLD stock traded up $1.84 during trading hours on Friday, hitting $171.45. 954,767 shares of the company were exchanged, compared to its average volume of 898,824. The company has a market capitalization of $11.29 billion, a PE ratio of 25.14, a PEG ratio of 1.22 and a beta of 0.40. Royal Gold, Inc. has a 52 week low of $130.67 and a 52 week high of $191.78. The business has a 50 day moving average of $167.55 and a two-hundred day moving average of $165.79.

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

Royal Gold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 17th. Shareholders of record on Thursday, July 3rd were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Thursday, July 3rd. Royal Gold's dividend payout ratio (DPR) is currently 26.39%.

Royal Gold 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.