Empowered Funds LLC Acquires New Holdings in Royal Gold, Inc. $RGLD

Key Points

• Empowered Funds LLC acquired 4,664 shares of Royal Gold worth approximately $931,000 during the second quarter. Institutional investors collectively own 83.65% of the company.
• Analyst sentiment remains mixed: UBS raised its target to $285, while other firms lowered targets or downgraded the stock. Royal Gold has an average rating of “Hold” and an average price target of $285.10.
• Royal Gold exceeded quarterly earnings and revenue estimates, reporting $2.56 in EPS and $468.98 million in revenue, up 114.9% year over year. The company also declared a quarterly dividend of $0.475 per share, implying a 0.7% yield.

Empowered Funds LLC acquired a new stake in Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 4,664 shares of the basic materials company's stock, valued at approximately $931,000.

Other hedge funds have also recently made changes to their positions in the company. Axiom Investment Management LLC acquired a new stake in Royal Gold in the first quarter worth $25,000. Grove Bank & Trust boosted its position in shares of Royal Gold by 88.6% in the second quarter. Grove Bank & Trust now owns 132 shares of the basic materials company's stock valued at $26,000 after acquiring an additional 62 shares during the period. Elyxium Wealth LLC bought a new stake in shares of Royal Gold during the 4th quarter valued at about $27,000. Gen Wealth Partners Inc purchased a new position in shares of Royal Gold in the 4th quarter worth about $27,000. Finally, Scarborough Advisors LLC bought a new stake in Royal Gold in the first quarter worth $32,000. 83.65% of the stock is owned by institutional investors.

Analysts Set New Price Targets

RGLD has been the topic of a number of research reports. UBS Group lifted their target price on shares of Royal Gold from $280.00 to $285.00 and gave the company a "buy" rating in a research note on Friday, August 7th. Weiss Ratings downgraded shares of Royal Gold from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday, August 4th. Zacks Research cut shares of Royal Gold from a "hold" rating to a "strong sell" rating in a research note on Friday, July 31st. Jefferies Financial Group dropped their price target on Royal Gold from $318.00 to $311.00 and set a "buy" rating for the company in a research note on Monday, July 6th. Finally, Royal Bank Of Canada cut 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 report on Thursday, July 9th. Seven equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $285.10.

Royal Gold Price Performance

NASDAQ RGLD opened at $262.11 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.92 and a quick ratio of 2.68. The stock's fifty day moving average price is $220.36 and its 200 day moving average price is $236.00. Royal Gold, Inc. has a 1 year low of $168.88 and a 1 year high of $306.25. The company has a market cap of $22.21 billion, a price-to-earnings ratio of 28.61, a PEG ratio of 1.99 and a beta of 0.50.

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

Royal Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Shareholders of record on Friday, October 2nd will be paid a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a yield of 0.7%. The ex-dividend date is Friday, October 2nd. Royal Gold's payout ratio is 20.74%.

Insiders Place Their Bets

In other Royal Gold news, SVP Randy Shefman sold 500 shares of the firm's stock in a transaction on Friday, August 28th. The stock was sold at an average price of $262.80, for a total value of $131,400.00. Following the completion of the sale, the senior vice president directly owned 8,082 shares of the company's stock, valued at $2,123,949.60. This trade represents a 5.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.35% of the company's stock.

Royal Gold Company 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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