Gabelli Funds LLC Purchases 16,225 Shares of Royal Gold, Inc. $RGLD

Key Points

• Gabelli Funds LLC boosted its stake in Royal Gold by 7.8% in the fourth quarter, buying 16,225 shares and bringing its total holdings to 224,140 shares valued at about $49.8 million.
• Royal Gold reported mixed quarterly results, with EPS of $1.92 missing estimates and revenue of $310.83 million below expectations, though revenue still rose 85.2% year over year.
• Institutional ownership remains high at 83.65%, while analysts are split but still lean constructive overall, with a consensus rating of Moderate Buy and an average price target of $273.64.

Gabelli Funds LLC increased its position in shares of Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL by 7.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 224,140 shares of the basic materials company's stock after buying an additional 16,225 shares during the quarter. Gabelli Funds LLC owned 0.27% of Royal Gold worth $49,824,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. SG Americas Securities LLC grew its stake in Royal Gold by 52.8% in the 4th quarter. SG Americas Securities LLC now owns 17,671 shares of the basic materials company's stock valued at $3,928,000 after purchasing an additional 6,109 shares during the period. Louisbourg Investments Inc. bought a new position in shares of Royal Gold during the 4th quarter worth $3,938,000. Prospera Financial Services Inc purchased a new stake in Royal Gold during the 3rd quarter worth about $1,068,000. Ruffer LLP purchased a new stake in Royal Gold during the 3rd quarter worth about $16,636,000. Finally, Neuberger Berman Group LLC lifted its holdings in Royal Gold by 22.9% during the 3rd quarter. Neuberger Berman Group LLC now owns 135,050 shares of the basic materials company's stock worth $27,056,000 after purchasing an additional 25,187 shares in the last quarter. 83.65% of the stock is currently owned by institutional investors.

Royal Gold Price Performance

Shares of Royal Gold stock opened at $228.32 on Monday. 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 firm has a market capitalization of $19.38 billion, a PE ratio of 27.21, a price-to-earnings-growth ratio of 1.85 and a beta of 0.43. The business's 50-day moving average price is $251.28 and its 200-day moving average price is $240.86. Royal Gold, Inc. has a 12 month low of $150.75 and a 12 month high of $306.25.

Royal Gold (NASDAQ:RGLD - Get Free Report) TSE: RGL last announced its quarterly earnings data on Wednesday, February 18th. The basic materials company reported $1.92 EPS for the quarter, missing the consensus estimate of $2.68 by ($0.76). The firm had revenue of $310.83 million for the quarter, compared to the consensus estimate of $425.47 million. Royal Gold had a net margin of 48.59% and a return on equity of 12.63%. Royal Gold's revenue for the quarter was up 85.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.63 earnings per share. Sell-side analysts forecast that Royal Gold, Inc. will post 11.65 EPS for the current fiscal year.

Royal Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 16th. Stockholders of record on Thursday, April 2nd were given a dividend of $0.475 per share. The ex-dividend date was Thursday, April 2nd. This represents a $1.90 annualized dividend and a dividend yield of 0.8%. Royal Gold's dividend payout ratio is 22.65%.

Insider Transactions at Royal Gold

In other news, SVP Randy Shefman sold 1,000 shares of the stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $243.74, for a total transaction of $243,740.00. Following the transaction, the senior vice president directly owned 9,082 shares in the company, valued at approximately $2,213,646.68. This represents a 9.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mark Isto sold 2,000 shares of the firm's stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $274.83, for a total value of $549,660.00. Following the transaction, the director owned 20,043 shares in the company, valued at approximately $5,508,417.69. The trade was a 9.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 8,573 shares of company stock valued at $2,370,831 over the last 90 days. Company insiders own 0.35% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on RGLD. UBS Group set a $325.00 price target on Royal Gold and gave the company a "buy" rating in a report on Wednesday, April 15th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Royal Gold in a report on Tuesday, April 21st. Zacks Research cut Royal Gold from a "hold" rating to a "strong sell" rating in a report on Tuesday, May 5th. Scotiabank cut Royal Gold from a "sector outperform" rating to a "sector perform" rating and set a $335.00 price target on the stock. in a report on Monday, January 26th. Finally, National Bank Financial lowered their price target on Royal Gold from $350.00 to $340.00 and set an "outperform" rating on the stock in a report on Friday, April 17th. Eight analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $273.64.

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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