Pallas Capital Advisors LLC Increases Stock Position in Royal Gold, Inc. (NASDAQ:RGLD)

Pallas Capital Advisors LLC grew its holdings in Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL by 145.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,684 shares of the basic materials company's stock after purchasing an additional 8,698 shares during the period. Pallas Capital Advisors LLC's holdings in Royal Gold were worth $2,401,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in RGLD. Farther Finance Advisors LLC increased its position in Royal Gold by 29.5% during the first quarter. Farther Finance Advisors LLC now owns 812 shares of the basic materials company's stock worth $133,000 after buying an additional 185 shares during the last quarter. BCS Wealth Management raised its position in shares of Royal Gold by 0.3% in the first quarter. BCS Wealth Management now owns 20,704 shares of the basic materials company's stock valued at $3,385,000 after purchasing an additional 63 shares during the period. City Center Advisors LLC acquired a new stake in shares of Royal Gold in the first quarter worth $324,000. UMB Bank n.a. boosted its holdings in shares of Royal Gold by 23.5% during the 1st quarter. UMB Bank n.a. now owns 1,572 shares of the basic materials company's stock worth $257,000 after buying an additional 299 shares during the period. Finally, A. D. Beadell Investment Counsel Inc. grew its stake in Royal Gold by 10.1% in the 1st quarter. A. D. Beadell Investment Counsel Inc. now owns 7,170 shares of the basic materials company's stock valued at $1,172,000 after buying an additional 660 shares during the last quarter. 83.65% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Royal Gold

In other news, SVP Randy Shefman sold 1,300 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $154.98, for a total transaction of $201,474.00. Following the transaction, the senior vice president now owns 9,360 shares of the company's stock, valued at $1,450,612.80. This represents a 12.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.49% of the company's stock.

Royal Gold Trading Up 1.3%

Shares of NASDAQ:RGLD traded up $2.27 during trading on Friday, reaching $181.30. 83,148 shares of the stock were exchanged, compared to its average volume of 424,715. Royal Gold, Inc. has a 12 month low of $119.72 and a 12 month high of $191.78. The stock has a 50-day moving average price of $177.61 and a 200-day moving average price of $156.78. The firm has a market cap of $11.93 billion, a PE ratio of 36.00, a PEG ratio of 3.42 and a beta of 0.44.

Royal Gold (NASDAQ:RGLD - Get Free Report) TSE: RGL last released its quarterly earnings results on Wednesday, May 7th. The basic materials company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.14. Royal Gold had a return on equity of 11.46% and a net margin of 46.15%. The business had revenue of $193.44 million during the quarter, compared to the consensus estimate of $176.17 million. During the same period in the previous year, the company posted $0.91 EPS. The firm's quarterly revenue was up 29.9% on a year-over-year basis. On average, sell-side analysts expect that Royal Gold, Inc. will post 6.2 earnings per share for the current fiscal year.

Royal Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 17th. Shareholders of record on Thursday, July 3rd will be issued a $0.45 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.80 annualized dividend and a yield of 0.99%. Royal Gold's dividend payout ratio is presently 29.80%.

Analysts Set New Price Targets

A number of analysts have issued reports on RGLD shares. BMO Capital Markets set a $197.00 target price on Royal Gold and gave the company a "market perform" rating in a report on Thursday, May 22nd. Wall Street Zen upgraded shares of Royal Gold from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 24th. CIBC increased their price target on shares of Royal Gold from $202.00 to $215.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Raymond James upped their price objective on shares of Royal Gold from $181.00 to $200.00 and gave the company an "outperform" rating in a research report on Friday, April 4th. Finally, Scotiabank raised Royal Gold from a "sector perform" rating to a "sector outperform" rating and lifted their target price for the stock from $166.00 to $189.00 in a research report on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Royal Gold has a consensus rating of "Moderate Buy" and an average target price of $185.33.

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.