Global Strategic Management Inc. Acquires 5,765 Shares of Royal Gold, Inc. $RGLD

Key Points

• Global Strategic Management increased its Royal Gold stake by 24.2% in the third quarter, purchasing 5,765 additional shares to hold 29,545 shares valued at approximately $6.98 million. Institutional investors collectively own 83.65% of RGLD.
• Royal Gold reported quarterly earnings of $2.56 per share, slightly exceeding estimates, while revenue surged 114.9% year over year to $468.98 million. The company also declared a quarterly dividend of $0.475 per share, equivalent to a 0.8% annual yield.
• Analyst sentiment remains positive, with nine Buy ratings and three Holds producing a “Moderate Buy” consensus and an average price target of $298.30, above the reported share price of $233.00.

Global Strategic Management Inc. raised its stake in shares of Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL by 24.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 29,545 shares of the basic materials company's stock after purchasing an additional 5,765 shares during the quarter. Royal Gold accounts for about 4.7% of Global Strategic Management Inc.'s holdings, making the stock its 8th biggest holding. Global Strategic Management Inc.'s holdings in Royal Gold were worth $6,981,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently modified their holdings of RGLD. Axiom Investment Management LLC bought a new stake in Royal Gold in the 1st quarter worth $25,000. Grove Bank & Trust lifted its position in Royal Gold by 88.6% during the 2nd 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. Eastern Bank boosted its position in shares of Royal Gold by 622.2% in the 3rd quarter. Eastern Bank now owns 130 shares of the basic materials company's stock worth $31,000 after purchasing an additional 112 shares in the last quarter. Scarborough Advisors LLC purchased a new position in Royal Gold during the first quarter valued at $32,000. Finally, Core Capital Management & Research inc. bought a new position in Royal Gold in the 2nd quarter worth about $32,000. 83.65% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Royal Gold

In related news, SVP Randy Shefman sold 500 shares of Royal Gold stock in a transaction dated 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 transaction, the senior vice president owned 8,082 shares in the company, valued at $2,123,949.60. The trade was a 5.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.35% of the company's stock.

Royal Gold Stock Up 3.6%

Shares of Royal Gold stock opened at $233.00 on Friday. The stock has a market cap of $19.74 billion, a price-to-earnings ratio of 25.44, a PEG ratio of 1.69 and a beta of 0.45. The firm's 50-day moving average is $246.45 and its two-hundred day moving average is $231.26. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.92 and a quick ratio of 2.68. Royal Gold, Inc. has a 1 year low of $168.88 and a 1 year high of $306.25.

Royal Gold (NASDAQ:RGLD - Get Free Report) TSE: RGL last released its quarterly earnings results on Wednesday, August 5th. The basic materials company reported $2.56 EPS for the quarter, beating the consensus estimate of $2.55 by $0.01. The business had revenue of $468.98 million during the quarter, compared to analyst estimates of $458.85 million. Royal Gold had a net margin of 47.74% and a return on equity of 12.06%. The company's quarterly revenue was up 114.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.81 earnings per share. As a group, research analysts expect that Royal Gold, Inc. will post 10.30 earnings per share for the current fiscal year.

Royal Gold Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Friday, October 2nd will be given a dividend of $0.4750 per share. This represents a $1.90 annualized dividend and a yield of 0.8%. The ex-dividend date is Friday, October 2nd. Royal Gold's dividend payout ratio (DPR) is currently 20.74%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on RGLD shares. Weiss Ratings raised Royal Gold from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, October 9th. Zacks Research raised Royal Gold from a "strong sell" rating to a "hold" rating in a research report on Monday, September 7th. 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. 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, TD boosted their target price on Royal Gold from $289.00 to $315.00 and gave the stock a "buy" rating in a research report on Friday, September 18th. Nine research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $298.30.

Royal Gold Company Profile

Royal Gold, Inc is a precious metals streaming and royalty company headquartered in Denver, Colorado. Rather than operating mines directly, the company finances mining projects and acquires interests that provide rights to purchase a portion of the metals produced from those operations or to receive royalty payments based on mine revenue.

Royal Gold's portfolio is primarily focused on gold, with additional exposure to silver, copper and other metals. Its interests include streaming agreements and royalties associated with projects such as Pueblo Viejo in the Dominican Republic and Mount Milligan in British Columbia, Canada.

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