Meiji Yasuda Asset Management Co Ltd. Buys New Position in Royal Gold, Inc. $RGLD

Key Points

• Meiji Yasuda Asset Management purchased 9,439 Royal Gold shares worth approximately $1.88 million in the second quarter, while institutional investors collectively own 83.65% of the company.
• Analyst sentiment is mixed: Royal Gold has a consensus “Hold” rating and an average price target of $285.10, despite several Buy ratings and recent target adjustments.
• Royal Gold reported quarterly EPS of $2.56 and revenue of $468.98 million, with revenue rising 114.9% year over year. The company also announced a quarterly dividend of $0.475 per share, equivalent to a 0.7% annualized yield.

Meiji Yasuda Asset Management Co Ltd. bought a new stake in shares of Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 9,439 shares of the basic materials company's stock, valued at approximately $1,884,000.

Several other hedge funds have also recently added to or reduced their stakes in RGLD. Axiom Investment Management LLC bought a new stake in shares of Royal Gold in the 1st quarter valued at $25,000. Grove Bank & Trust increased its position in shares of Royal Gold by 88.6% during the second quarter. Grove Bank & Trust now owns 132 shares of the basic materials company's stock worth $26,000 after buying an additional 62 shares during the period. Elyxium Wealth LLC bought a new position in Royal Gold during the fourth quarter worth $27,000. Gen Wealth Partners Inc acquired a new position in Royal Gold in the fourth quarter valued at $27,000. Finally, Scarborough Advisors LLC bought a new stake in Royal Gold during the first quarter valued at $32,000. Institutional investors own 83.65% of the company's stock.

Insider Activity

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

Analyst Ratings Changes

A number of analysts have weighed in on the company. Zacks Research downgraded Royal Gold from a "hold" rating to a "strong sell" rating in a report on Friday, July 31st. UBS Group boosted their price objective on Royal Gold from $280.00 to $285.00 and gave the company a "buy" rating in a research note on Friday, August 7th. Weiss Ratings lowered Royal Gold from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday, August 4th. Royal Bank Of Canada decreased their target price on Royal Gold from $310.00 to $305.00 and set an "outperform" rating for the company in a research note on Thursday, July 9th. Finally, Scotiabank reiterated a "sector perform" rating and issued a $310.00 target price on shares of Royal Gold in a report on Tuesday, July 14th. Seven equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $285.10.

Royal Gold Stock Up 1.8%

RGLD stock opened at $263.75 on Tuesday. The stock's 50 day simple moving average is $211.14 and its 200 day simple moving average is $236.43. Royal Gold, Inc. has a fifty-two week low of $168.88 and a fifty-two week high of $306.25. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.68 and a current ratio of 2.92. The company has a market cap of $22.35 billion, a P/E ratio of 28.79, a price-to-earnings-growth ratio of 1.95 and a beta of 0.44.

Royal Gold (NASDAQ:RGLD - Get Free Report) TSE: RGL last announced its quarterly earnings data 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 firm had revenue of $468.98 million during the quarter, compared to analysts' expectations of $458.85 million. Royal Gold had a return on equity of 12.06% and a net margin of 47.74%.The company's revenue for the quarter was up 114.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.81 earnings per share. On average, research analysts expect that Royal Gold, Inc. will post 10.32 earnings per share for the current fiscal year.

Royal Gold Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Friday, October 2nd will be issued a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Friday, October 2nd. Royal Gold's dividend payout ratio (DPR) is currently 20.74%.

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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