Ethic Inc. Raises Stock Holdings in Royal Gold, Inc. $RGLD

Key Points

• Ethic Inc. more than doubled its stake in Royal Gold during the fourth quarter, increasing holdings by 111.8% to 48,381 shares worth about $10.8 million.
• Royal Gold reported mixed quarterly results, with EPS of $1.92 falling short of estimates and revenue of $310.83 million below expectations, even as revenue rose sharply year over year.
• The company continues to pay a quarterly dividend, with the latest $0.475 per share payout translating to an annualized dividend of $1.90 and a yield of about 0.8%.

Ethic Inc. grew its stake in Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL by 111.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,381 shares of the basic materials company's stock after acquiring an additional 25,540 shares during the quarter. Ethic Inc. owned about 0.06% of Royal Gold worth $10,755,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Trust Co. of Toledo NA OH purchased a new stake in shares of Royal Gold in the fourth quarter valued at $30,000. V Square Quantitative Management LLC purchased a new stake in shares of Royal Gold in the fourth quarter valued at $30,000. Bank & Trust Co lifted its position in shares of Royal Gold by 600.0% in the fourth quarter. Bank & Trust Co now owns 140 shares of the basic materials company's stock valued at $31,000 after acquiring an additional 120 shares in the last quarter. Vermillion & White Wealth Management Group LLC purchased a new position in Royal Gold during the third quarter worth about $29,000. Finally, Sunbelt Securities Inc. lifted its position in Royal Gold by 8,400.0% during the third quarter. Sunbelt Securities Inc. now owns 170 shares of the basic materials company's stock worth $34,000 after buying an additional 168 shares during the period. 83.65% of the stock is currently owned by hedge funds and other institutional investors.

Royal Gold Stock Up 2.6%

Shares of NASDAQ:RGLD opened at $238.78 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.91 and a current ratio of 3.52. Royal Gold, Inc. has a 1 year low of $150.75 and a 1 year high of $306.25. The stock has a market capitalization of $20.26 billion, a P/E ratio of 28.46, a PEG ratio of 1.88 and a beta of 0.43. The stock has a 50-day simple moving average of $257.38 and a 200-day simple moving average of $238.48.

Royal Gold (NASDAQ:RGLD - Get Free Report) TSE: RGL last issued its 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 12.63% and a net margin of 48.59%.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 previous year, the firm posted $1.63 EPS. The firm's revenue for the quarter was up 85.2% compared to the same quarter last year. Equities analysts forecast that Royal Gold, Inc. will post 11.65 earnings per share for the current year.

Royal Gold Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 16th. Stockholders of record on Thursday, April 2nd were paid a $0.475 dividend. The ex-dividend date was Thursday, April 2nd. This represents a $1.90 dividend on an annualized basis and a dividend yield of 0.8%. Royal Gold's dividend payout ratio (DPR) is 22.65%.

Insider Activity

In other news, SVP Daniel Breeze sold 1,400 shares of the stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $300.87, for a total value of $421,218.00. Following the completion of the sale, the senior vice president owned 20,140 shares in the company, valued at approximately $6,059,521.80. This trade represents a 6.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mark Isto sold 2,000 shares of the 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 owned 20,043 shares of the company's stock, valued at approximately $5,508,417.69. This trade represents a 9.07% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 7,573 shares of company stock worth $2,127,091. 0.35% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Canadian Imperial Bank of Commerce reiterated a "neutral" rating and set a $330.00 target price on shares of Royal Gold in a research report on Wednesday, February 4th. Zacks Research downgraded Royal Gold from a "hold" rating to a "strong sell" rating in a research report on Tuesday, May 5th. National Bank Financial reduced their target price on Royal Gold from $350.00 to $340.00 and set an "outperform" rating on the stock in a research report on Friday, April 17th. UBS Group set a $325.00 target price on Royal Gold and gave the stock a "buy" rating in a research report on Wednesday, April 15th. Finally, Scotiabank downgraded Royal Gold from a "sector outperform" rating to a "sector perform" rating and set a $335.00 target price on the stock. in a research report on Monday, January 26th. Eight research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $273.64.

About Royal Gold

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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