Eurizon Capital SGR S.p.A. Acquires Shares of 23,236 Royal Gold, Inc. $RGLD

Key Points

• Eurizon Capital SGR opened a new position in Royal Gold during the fourth quarter, buying 23,236 shares valued at about $5.2 million.
• Royal Gold’s stock was down 2.9% in Tuesday trading, with shares opening at $217.86; the company also has a market cap of $18.49 billion and a relatively low debt-to-equity ratio of 0.08.
• The company declared a quarterly dividend of $0.475 per share, payable July 16, representing a 0.9% annualized yield. Analyst sentiment remains mixed but leans positive, with a consensus rating of Moderate Buy and an average price target of $273.64.

Eurizon Capital SGR S.p.A. acquired a new stake in shares of Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 23,236 shares of the basic materials company's stock, valued at approximately $5,217,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Capital World Investors lifted its position in Royal Gold by 1.0% in the third quarter. Capital World Investors now owns 9,055,075 shares of the basic materials company's stock worth $1,816,267,000 after buying an additional 93,282 shares during the last quarter. Vanguard Group Inc. lifted its position in Royal Gold by 25.0% in the fourth quarter. Vanguard Group Inc. now owns 8,398,944 shares of the basic materials company's stock worth $1,867,001,000 after buying an additional 1,681,577 shares during the last quarter. Van ECK Associates Corp lifted its position in Royal Gold by 104.1% in the third quarter. Van ECK Associates Corp now owns 4,994,944 shares of the basic materials company's stock worth $1,001,885,000 after buying an additional 2,547,076 shares during the last quarter. State Street Corp lifted its position in Royal Gold by 5.4% in the third quarter. State Street Corp now owns 3,321,868 shares of the basic materials company's stock worth $666,300,000 after buying an additional 170,430 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in Royal Gold by 4.2% in the fourth quarter. Geode Capital Management LLC now owns 1,952,363 shares of the basic materials company's stock worth $434,063,000 after buying an additional 78,344 shares during the last quarter. 83.65% of the stock is currently owned by hedge funds and other institutional investors.

Royal Gold Stock Down 2.9%

NASDAQ:RGLD opened at $217.86 on Tuesday. The company has a current ratio of 3.52, a quick ratio of 3.26 and a debt-to-equity ratio of 0.08. The stock has a fifty day simple moving average of $242.13 and a 200-day simple moving average of $244.35. The company has a market cap of $18.49 billion, a price-to-earnings ratio of 25.97, a price-to-earnings-growth ratio of 1.67 and a beta of 0.42. Royal Gold, Inc. has a twelve month low of $150.75 and a twelve month high of $306.25.

Royal Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 16th. Investors of record on Thursday, July 2nd will be issued a $0.475 dividend. This represents a $1.90 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Thursday, July 2nd. Royal Gold's payout ratio is presently 22.65%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. National Bank Financial lowered their price target on Royal Gold from $350.00 to $340.00 and set an "outperform" rating for the company in a research report on Friday, April 17th. Zacks Research downgraded Royal Gold from a "hold" rating to a "strong sell" rating in a research report on Tuesday, May 5th. Weiss Ratings restated a "buy (b)" rating on shares of Royal Gold in a research report on Tuesday, April 21st. UBS Group set a $325.00 price target on Royal Gold and gave the stock a "buy" rating in a research report on Wednesday, April 15th. Finally, Canadian Imperial Bank of Commerce restated a "neutral" rating and issued a $330.00 price target on shares of Royal Gold in a research report on Wednesday, February 4th. Eight analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $273.64.

Insider Activity

In related news, SVP Randy Shefman sold 1,000 shares of Royal Gold stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $243.74, for a total value of $243,740.00. Following the completion of the sale, the senior vice president directly owned 9,082 shares in the company, valued at $2,213,646.68. The trade was a 9.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Mark Isto sold 2,000 shares of Royal Gold 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 $5,508,417.69. The trade was a 9.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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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