Geode Capital Management LLC Purchases 78,344 Shares of Royal Gold, Inc. $RGLD

Key Points

• Geode Capital Management increased its stake in Royal Gold by 4.2% in the fourth quarter, buying 78,344 shares and bringing its holdings to 1.95 million shares worth about $434.1 million.
• Royal Gold announced a quarterly dividend of $0.475 per share, payable on July 16, for an annualized dividend of $1.90 and a yield of about 0.8%.
• Analyst views are mixed, but the stock currently carries a Moderate Buy consensus with a market-implied price target of $273.64; shares last traded around $224.48.

Geode Capital Management LLC lifted its position in shares of Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL by 4.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,952,363 shares of the basic materials company's stock after purchasing an additional 78,344 shares during the quarter. Geode Capital Management LLC owned 2.31% of Royal Gold worth $434,063,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Greenleaf Trust boosted its position in shares of Royal Gold by 2.9% during the fourth quarter. Greenleaf Trust now owns 1,538 shares of the basic materials company's stock worth $342,000 after purchasing an additional 43 shares in the last quarter. WPG Advisers LLC boosted its position in shares of Royal Gold by 34.1% during the fourth quarter. WPG Advisers LLC now owns 181 shares of the basic materials company's stock worth $40,000 after purchasing an additional 46 shares in the last quarter. Parcion Private Wealth LLC boosted its position in shares of Royal Gold by 2.9% during the fourth quarter. Parcion Private Wealth LLC now owns 1,701 shares of the basic materials company's stock worth $378,000 after purchasing an additional 48 shares in the last quarter. Avidian Wealth Enterprises LLC boosted its position in shares of Royal Gold by 2.0% during the fourth quarter. Avidian Wealth Enterprises LLC now owns 2,689 shares of the basic materials company's stock worth $598,000 after purchasing an additional 54 shares in the last quarter. Finally, Compound Planning Inc. boosted its position in shares of Royal Gold by 4.4% during the third quarter. Compound Planning Inc. now owns 1,315 shares of the basic materials company's stock worth $264,000 after purchasing an additional 56 shares in the last quarter. 83.65% of the stock is owned by institutional investors.

Royal Gold Stock Performance

RGLD opened at $224.48 on Monday. The stock has a market capitalization of $19.05 billion, a P/E ratio of 26.76, a P/E/G ratio of 1.67 and a beta of 0.42. Royal Gold, Inc. has a 12 month low of $150.75 and a 12 month high of $306.25. The firm's fifty day simple moving average is $242.27 and its 200 day simple moving average is $244.14. The company has a current ratio of 3.52, a quick ratio of 3.26 and a debt-to-equity ratio of 0.08.

Royal Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 16th. Investors of record on Thursday, July 2nd will be given a $0.475 dividend. This represents a $1.90 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Thursday, July 2nd. Royal Gold's payout ratio is currently 22.65%.

Insider Buying and Selling at Royal Gold

In related news, SVP Randy Shefman sold 1,000 shares of the business's stock in a transaction on Monday, May 11th. The shares were sold at an average price of $243.74, for a total value of $243,740.00. Following the sale, the senior vice president directly owned 9,082 shares of the company's stock, valued at approximately $2,213,646.68. The trade was a 9.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Mark Isto sold 2,000 shares of the business's stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $274.83, for a total transaction of $549,660.00. Following the completion of the sale, the director directly owned 20,043 shares in the company, valued at $5,508,417.69. This represents 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.

Analyst Ratings Changes

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

Royal Gold 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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