Meeder Asset Management Inc. Buys New Position in Royal Gold, Inc. $RGLD

Key Points

• Meeder Asset Management bought 26,649 shares of Royal Gold in the second quarter, valued at approximately $5.3 million. Institutional investors collectively own 83.65% of the company.
• Royal Gold exceeded quarterly expectations, reporting $2.56 in EPS and $468.98 million in revenue, with revenue up 114.9% year over year.
• Analyst sentiment remains mixed: the stock has a consensus “Hold” rating and a $285.10 target price, while Royal Gold recently paid a quarterly dividend of $0.475 per share.

Meeder Asset Management Inc. purchased a new position in Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 26,649 shares of the basic materials company's stock, valued at approximately $5,319,000.

Several other large investors also recently bought and sold shares of RGLD. Axiom Investment Management LLC acquired a new position in shares of Royal Gold during the first quarter worth $25,000. Grove Bank & Trust grew its holdings 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 purchasing an additional 62 shares in the last quarter. Elyxium Wealth LLC acquired a new stake in Royal Gold during the 4th quarter valued at $27,000. Gen Wealth Partners Inc purchased a new stake in Royal Gold during the 4th quarter worth $27,000. Finally, Scarborough Advisors LLC acquired a new position in Royal Gold in the 1st quarter worth $32,000. Institutional investors and hedge funds own 83.65% of the company's stock.

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Royal Gold Price Performance

Shares of RGLD stock opened at $236.62 on Tuesday. The firm has a fifty day moving average of $206.65 and a two-hundred day moving average of $237.32. The firm has a market cap of $20.05 billion, a P/E ratio of 25.83, a P/E/G ratio of 1.74 and a beta of 0.44. Royal Gold, Inc. has a 1-year low of $166.51 and a 1-year high of $306.25. 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 (NASDAQ:RGLD - Get Free Report) TSE: RGL last issued its earnings results on Wednesday, August 5th. The basic materials company reported $2.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.55 by $0.01. The business had revenue of $468.98 million for 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 revenue for the quarter was up 114.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.81 EPS. As a group, research analysts anticipate that Royal Gold, Inc. will post 10.33 earnings per share for the current fiscal year.

Royal Gold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 16th. Shareholders of record on Thursday, July 2nd were issued a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Thursday, July 2nd. Royal Gold's dividend payout ratio (DPR) is currently 20.74%.

Wall Street Analysts Forecast Growth

RGLD has been the subject of a number of analyst reports. Jefferies Financial Group decreased their price objective on shares of Royal Gold from $318.00 to $311.00 and set a "buy" rating for the company in a research report on Monday, July 6th. Royal Bank Of Canada dropped their target price on Royal Gold from $310.00 to $305.00 and set an "outperform" rating on the stock in a research report on Thursday, July 9th. Weiss Ratings cut Royal Gold from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, August 4th. Zacks Research downgraded Royal Gold from a "hold" rating to a "strong sell" rating in a report on Friday, July 31st. Finally, UBS Group increased their price target on Royal Gold from $280.00 to $285.00 and gave the company a "buy" rating in a report on Friday, August 7th. Seven analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $285.10.

Insider Buying and Selling

In other news, SVP Randy Shefman sold 500 shares of Royal Gold stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $215.85, for a total value of $107,925.00. Following the completion of the transaction, the senior vice president owned 8,582 shares in the company, valued at approximately $1,852,424.70. This trade represents a 5.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.35% of the stock is currently owned by corporate insiders.

About Royal Gold

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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