Handelsbanken Fonder AB Buys 5,256 Shares of Royal Gold, Inc. $RGLD

Key Points

• Handelsbanken Fonder AB increased its Royal Gold stake by 25% in the fourth quarter, buying 5,256 additional shares and bringing its total to 26,258 shares worth about $5.84 million.
• Royal Gold reported mixed quarterly results, with earnings of $1.92 per share and revenue of $310.83 million, both below analyst expectations, even though revenue rose 85.2% year over year.
• The company also announced a quarterly dividend of $0.475 per share payable July 16, while analysts currently rate the stock a consensus Moderate Buy with an average price target of $273.64.

Handelsbanken Fonder AB boosted its stake in Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL by 25.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,258 shares of the basic materials company's stock after purchasing an additional 5,256 shares during the quarter. Handelsbanken Fonder AB's holdings in Royal Gold were worth $5,837,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Elyxium Wealth LLC bought a new stake in Royal Gold in the fourth quarter valued at about $27,000. Vermillion & White Wealth Management Group LLC bought a new stake in Royal Gold in the third quarter valued at about $29,000. Trust Co. of Toledo NA OH bought a new stake in Royal Gold in the fourth quarter valued at about $30,000. V Square Quantitative Management LLC bought a new stake in Royal Gold in the fourth quarter valued at about $30,000. Finally, Bank & Trust Co increased its holdings in 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 purchasing an additional 120 shares during the last quarter. Institutional investors own 83.65% of the company's stock.

Insider Activity at Royal Gold

In related news, Director Mark Isto sold 2,000 shares of the stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $274.83, for a total transaction of $549,660.00. Following the completion of the transaction, the director directly owned 20,043 shares of the company's stock, valued at approximately $5,508,417.69. This represents a 9.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Randy Shefman sold 1,000 shares of the stock in a transaction that occurred 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 transaction, the senior vice president directly owned 9,082 shares of the company's stock, valued at $2,213,646.68. This trade represents a 9.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 4,400 shares of company stock valued at $1,214,618. Insiders own 0.35% of the company's stock.

Royal Gold Stock Down 0.9%

RGLD stock opened at $220.29 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.52 and a quick ratio of 3.26. The stock has a market capitalization of $18.70 billion, a P/E ratio of 26.26, a P/E/G ratio of 1.80 and a beta of 0.43. The business has a 50-day moving average of $245.59 and a 200-day moving average of $241.98. Royal Gold, Inc. has a fifty-two week low of $150.75 and a fifty-two week high of $306.25.

Royal Gold (NASDAQ:RGLD - Get Free Report) TSE: RGL last posted its quarterly earnings data on Wednesday, February 18th. The basic materials company reported $1.92 earnings per share 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 analyst estimates of $425.47 million. Royal Gold had a return on equity of 12.63% and a net margin of 48.59%.The firm's quarterly revenue was up 85.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.63 earnings per share. On average, sell-side analysts anticipate that Royal Gold, Inc. will post 11.55 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 Thursday, July 16th. Investors of record on Thursday, July 2nd will be given a dividend of $0.475 per share. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $1.90 annualized dividend and a yield of 0.9%. Royal Gold's dividend payout ratio is 22.65%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Zacks Research downgraded Royal Gold from a "hold" rating to a "strong sell" rating in a report on Tuesday, May 5th. UBS Group set a $325.00 price target on Royal Gold and gave the stock a "buy" rating in a report on Wednesday, April 15th. Canadian Imperial Bank of Commerce restated a "neutral" rating and issued a $330.00 price target on shares of Royal Gold in a report on Wednesday, February 4th. 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 report on Friday, April 17th. Finally, Scotiabank downgraded Royal Gold from a "sector outperform" rating to a "sector perform" rating and set a $335.00 price target for the company. in a report on Monday, January 26th. Eight analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from 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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