International Assets Investment Management LLC Buys 74,075 Shares of Royal Gold, Inc. $RGLD

Key Points

• International Assets Investment Management increased its Royal Gold stake by 74,075 shares, bringing its holdings to 75,000 shares valued at approximately $17.7 million. Institutional investors collectively own 83.65% of the company.
• Analysts maintain a generally positive outlook, with eight Buy ratings and three Holds. Royal Gold has a “Moderate Buy” consensus rating and an average price target of $309.56.
• Royal Gold reported quarterly EPS of $2.56, narrowly beating estimates, while revenue rose 114.9% year over year to $468.98 million. The company also paid a quarterly dividend of $0.475 per share, equivalent to a 0.8% annual yield.

International Assets Investment Management LLC grew its stake in Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL by 8,008.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 75,000 shares of the basic materials company's stock after buying an additional 74,075 shares during the period. International Assets Investment Management LLC owned 0.09% of Royal Gold worth $17,700,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in Royal Gold during the 2nd quarter valued at approximately $2,177,865,000. Bank of New York Mellon Corp bought a new position in Royal Gold during the 2nd quarter worth approximately $150,762,000. Findlay Park Partners LLP acquired a new position in shares of Royal Gold in the 2nd quarter worth approximately $111,392,000. Bank of America Corp DE acquired a new position in shares of Royal Gold in the 2nd quarter worth approximately $88,124,000. Finally, Deutsche Bank AG acquired a new position in shares of Royal Gold in the 2nd quarter worth approximately $69,325,000. 83.65% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, SVP Randy Shefman sold 500 shares of the firm's stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $262.80, for a total transaction of $131,400.00. Following the completion of the sale, the senior vice president owned 8,082 shares in the company, valued at $2,123,949.60. This trade represents a 5.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.35% of the stock is currently owned by insiders.

Analysts Set New Price Targets

RGLD has been the topic of a number of analyst reports. Weiss Ratings raised shares of Royal Gold from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday, October 9th. Jefferies Financial Group lowered their target price on shares of Royal Gold from $318.00 to $311.00 and set a "buy" rating for the company in a research note on Monday, July 6th. Raymond James Financial restated an "outperform" rating and issued a $336.00 target price on shares of Royal Gold in a report on Tuesday, October 20th. Canadian Imperial Bank of Commerce set a $305.00 price target on shares of Royal Gold in a research report on Friday, October 16th. Finally, TD lowered their price objective on Royal Gold from $315.00 to $311.00 and set a "buy" rating for the company in a research report on Tuesday, October 20th. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Royal Gold currently has an average rating of "Moderate Buy" and a consensus target price of $309.56.

Royal Gold Stock Performance

NASDAQ RGLD opened at $228.77 on Friday. The company has a current ratio of 2.92, a quick ratio of 2.68 and a debt-to-equity ratio of 0.05. The company has a fifty day simple moving average of $246.08 and a 200 day simple moving average of $241.51. The company has a market cap of $19.38 billion, a P/E ratio of 24.97, a PEG ratio of 1.66 and a beta of 0.45. Royal Gold, Inc. has a 12-month low of $168.88 and a 12-month 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 analysts' consensus estimates 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 return on equity of 12.06% and a net margin of 47.74%. Royal Gold's quarterly revenue was up 114.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.81 EPS. Sell-side analysts predict that Royal Gold, Inc. will post 10.66 earnings per share for the current fiscal year.

Royal Gold Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 16th. Shareholders of record on Friday, October 2nd were paid a $0.4750 dividend. This represents a $1.90 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Friday, October 2nd. Royal Gold's payout ratio is presently 20.74%.

Royal Gold Profile

Royal Gold, Inc is a precious metals streaming and royalty company headquartered in Denver, Colorado. The company provides financing to mining companies in exchange for the right to purchase a portion of the gold, silver, copper, or other metals produced from their mines, typically at predetermined prices. It also holds royalty interests that entitle it to a percentage of revenue or production from mining operations without directly operating the mines.

Royal Gold's business is focused on acquiring and managing a diversified portfolio of streaming and royalty interests.

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