Informed Momentum Co LLC Buys Shares of 24,486 Royal Gold, Inc. (NASDAQ:RGLD)

Key Points

• Informed Momentum Co LLC purchased 24,486 shares of Royal Gold, Inc., valued at approximately $4 million, during the first quarter, indicating significant interest in the company's stock.
• Royal Gold reported earnings of $1.81 per share for the last quarter, surpassing analysts' expectations and showing a 20.4% increase in revenue year-over-year.
• The company announced a quarterly dividend of $0.45 per share, reflecting an annualized yield of 1.1% and a payout ratio of 26.39%.

Informed Momentum Co LLC acquired a new stake in shares of Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 24,486 shares of the basic materials company's stock, valued at approximately $4,004,000.

A number of other large investors have also recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its position in shares of Royal Gold by 17,722.4% in the 1st quarter. GAMMA Investing LLC now owns 457,501 shares of the basic materials company's stock worth $74,806,000 after buying an additional 454,934 shares during the last quarter. Select Equity Group L.P. bought a new position in shares of Royal Gold in the 4th quarter worth about $55,825,000. Nuveen LLC bought a new position in shares of Royal Gold in the 1st quarter worth about $40,882,000. Victory Capital Management Inc. lifted its position in shares of Royal Gold by 117.0% in the 1st quarter. Victory Capital Management Inc. now owns 415,179 shares of the basic materials company's stock worth $67,886,000 after buying an additional 223,870 shares during the last quarter. Finally, BLI Banque de Luxembourg Investments bought a new position in shares of Royal Gold in the 4th quarter worth about $27,536,000. 83.65% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

RGLD has been the topic of a number of recent research reports. BMO Capital Markets set a $197.00 price target on shares of Royal Gold and gave the stock a "market perform" rating in a research report on Thursday, May 22nd. Wall Street Zen downgraded shares of Royal Gold from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 2nd. CIBC lifted their price objective on shares of Royal Gold from $202.00 to $215.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Canaccord Genuity Group lifted their price objective on shares of Royal Gold from $202.00 to $203.00 in a research report on Wednesday, June 11th. Finally, TD Securities reiterated a "buy" rating and issued a $237.00 price objective (up from $229.00) on shares of Royal Gold in a research report on Friday, August 8th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $198.63.

Royal Gold Trading Down 1.5%

NASDAQ:RGLD traded down $2.65 during mid-day trading on Thursday, hitting $169.61. The stock had a trading volume of 652,499 shares, compared to its average volume of 628,180. The stock has a market capitalization of $11.17 billion, a price-to-earnings ratio of 24.87, a P/E/G ratio of 1.22 and a beta of 0.40. The company has a 50 day simple moving average of $167.92 and a 200-day simple moving average of $164.98. Royal Gold, Inc. has a 52 week low of $130.56 and a 52 week high of $191.78.

Royal Gold (NASDAQ:RGLD - Get Free Report) TSE: RGL last released its earnings results on Wednesday, August 6th. The basic materials company reported $1.81 EPS for the quarter, beating the consensus estimate of $1.70 by $0.11. The firm had revenue of $209.64 million for the quarter, compared to analysts' expectations of $186.63 million. Royal Gold had a net margin of 56.24% and a return on equity of 13.30%. Royal Gold's quarterly revenue was up 20.4% on a year-over-year basis. During the same quarter last year, the company earned $1.25 EPS. As a group, equities research analysts anticipate that Royal Gold, Inc. will post 6.2 earnings per share for the current year.

Royal Gold Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 17th. Shareholders of record on Thursday, July 3rd were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $1.80 annualized dividend and a yield of 1.1%. Royal Gold's dividend payout ratio (DPR) is presently 26.39%.

About Royal Gold

Royal Gold, Inc, together with its subsidiaries, acquires and manages precious metal streams, royalties, and related interests. The company engages in acquiring stream and royalty interests or to finance projects that are in production, development, or in the exploration stage in exchange for stream or royalty interests, which primarily consists of gold, silver, copper, nickel, zinc, lead, and other metals.