Parvin Asset Management LLC Buys Shares of 11,885 Royal Gold, Inc. $RGLD

Key Points

• Parvin Asset Management initiated a position in Royal Gold by purchasing 11,885 shares valued at approximately $2.37 million, making the stock its sixth-largest holding. Institutional investors and hedge funds collectively own 83.65% of Royal Gold.
• Royal Gold exceeded quarterly expectations, reporting $2.56 in EPS and $468.98 million in revenue, with revenue up 114.9% year over year. The company declared a quarterly dividend of $0.475 per share, equivalent to a 0.7% annualized yield.
• Analyst sentiment is mixed, with seven Buy, three Hold, and two Sell ratings, producing a consensus “Hold” rating and an average price target of $285.10.

Parvin Asset Management LLC purchased a new position in Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 11,885 shares of the basic materials company's stock, valued at approximately $2,372,000. Royal Gold makes up about 1.9% of Parvin Asset Management LLC's investment portfolio, making the stock its 6th biggest holding.

Several other hedge funds also recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in Royal Gold in the second quarter valued at approximately $2,177,865,000. Vanguard Group Inc. boosted its holdings in Royal Gold by 25.0% in the fourth quarter. Vanguard Group Inc. now owns 8,398,944 shares of the basic materials company's stock worth $1,867,001,000 after purchasing an additional 1,681,577 shares in the last quarter. Capital International Investors bought a new stake in Royal Gold in the fourth quarter worth $332,026,000. Van ECK Associates Corp increased its position in Royal Gold by 18.1% during the fourth quarter. Van ECK Associates Corp now owns 5,900,432 shares of the basic materials company's stock worth $1,311,607,000 after buying an additional 905,488 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in Royal Gold by 89.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,855,877 shares of the basic materials company's stock valued at $412,543,000 after buying an additional 874,329 shares in the last quarter. 83.65% of the stock is owned by institutional investors and hedge funds.

Royal Gold Price Performance

Royal Gold stock opened at $266.14 on Thursday. The business has a 50 day simple moving average of $213.02 and a 200 day simple moving average of $236.53. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.92 and a quick ratio of 2.68. The company has a market capitalization of $22.55 billion, a PE ratio of 29.05, a price-to-earnings-growth ratio of 2.02 and a beta of 0.44. Royal Gold, Inc. has a one year low of $168.88 and a one year high of $306.25.

Royal Gold (NASDAQ:RGLD - Get Free Report) TSE: RGL last released its quarterly earnings data on Wednesday, August 5th. The basic materials company reported $2.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.55 by $0.01. The firm 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%.The business's revenue for the quarter was up 114.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.81 earnings per share. On average, sell-side analysts forecast that Royal Gold, Inc. will post 10.26 EPS for the current fiscal year.

Royal Gold Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Friday, October 2nd will be given a dividend of $0.475 per share. The ex-dividend date is Friday, October 2nd. This represents a $1.90 dividend on an annualized basis and a yield of 0.7%. Royal Gold's dividend payout ratio is 20.74%.

Insider Buying and Selling

In other news, SVP Randy Shefman sold 500 shares of the firm's stock in a transaction 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 sale, the senior vice president directly owned 8,582 shares in the company, valued at approximately $1,852,424.70. This trade represents a 5.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.35% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Scotiabank reiterated a "sector perform" rating and set a $310.00 price target on shares of Royal Gold in a research note on Tuesday, July 14th. Zacks Research lowered shares of Royal Gold from a "hold" rating to a "strong sell" rating in a research report on Friday, July 31st. Jefferies Financial Group dropped their price objective on Royal Gold from $318.00 to $311.00 and set a "buy" rating on the stock in a research note on Monday, July 6th. Weiss Ratings downgraded Royal Gold from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, August 4th. Finally, Royal Bank Of Canada lowered their target price on Royal Gold from $310.00 to $305.00 and set an "outperform" rating on the stock in a report on Thursday, July 9th. Seven analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $285.10.

Royal Gold Profile

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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