Phoenix Financial Ltd. Purchases 154,376 Shares of Royal Gold, Inc. $RGLD

Key Points

• Phoenix Financial increased its Royal Gold stake by 9,505.9% in the third quarter, buying 154,376 shares to hold 156,000 shares valued at about $36.8 million.
• Analysts have a Moderate Buy consensus on Royal Gold, with an average price target of $309.67; eight rate the stock Buy and three Hold.
• Royal Gold reported quarterly EPS of $2.80, topping estimates, while revenue rose 84.4% year over year to $464.77 million.

Phoenix Financial Ltd. lifted its position in shares of Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL by 9,505.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 156,000 shares of the basic materials company's stock after buying an additional 154,376 shares during the period. Phoenix Financial Ltd. owned about 0.18% of Royal Gold worth $36,816,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

A number of analysts have recently commented on RGLD shares. Raymond James Financial set a $337.00 price objective on shares of Royal Gold in a research report on Friday, November 6th. TD decreased their target price on shares of Royal Gold from $315.00 to $311.00 and set a "buy" rating for the company in a research report on Tuesday, October 20th. Zacks Research raised shares of Royal Gold from a "strong sell" rating to a "hold" rating in a research report on Monday, September 7th. UBS Group lifted their price target on shares of Royal Gold from $280.00 to $285.00 and gave the company a "buy" rating in a research note on Friday, August 7th. Finally, Canadian Imperial Bank of Commerce set a $305.00 price target on shares of Royal Gold in a research report on Friday, October 16th. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $309.67.

Insider Buying and Selling at Royal Gold

In other Royal Gold news, SVP Randy Shefman sold 500 shares of the company's stock in a transaction 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 sale, the senior vice president directly owned 8,082 shares of the company's stock, valued at approximately $2,123,949.60. This represents a 5.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.35% of the company's stock.

Royal Gold Stock Up 0.6%

NASDAQ RGLD traded up $1.55 during trading hours on Friday, hitting $256.89. 358,524 shares of the company traded hands, compared to its average volume of 731,511. The business's 50-day moving average is $245.10 and its 200-day moving average is $240.63. Royal Gold, Inc. has a twelve month low of $181.01 and a twelve month high of $306.25. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.21 and a current ratio of 2.40. The stock has a market capitalization of $21.72 billion, a price-to-earnings ratio of 25.90, a P/E/G ratio of 1.84 and a beta of 0.46.

Royal Gold (NASDAQ:RGLD - Get Free Report) TSE: RGL last posted its quarterly earnings results on Wednesday, November 4th. The basic materials company reported $2.80 earnings per share for the quarter, topping the consensus estimate of $2.77 by $0.03. Royal Gold had a return on equity of 11.67% and a net margin of 47.69%. The firm had revenue of $464.77 million for the quarter, compared to analyst estimates of $459.84 million. During the same quarter in the previous year, the firm earned $2.06 EPS. The business's quarterly revenue was up 84.4% on a year-over-year basis. Sell-side analysts anticipate that Royal Gold, Inc. will post 10.71 earnings per share for the current year.

Royal Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 16th. Stockholders of record on Friday, October 2nd were issued a $0.4750 dividend. This represents a $1.90 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, October 2nd. Royal Gold's dividend payout ratio is presently 19.15%.

Royal Gold Profile

Royal Gold, Inc. is a precious metals company that finances mining operations through royalty and streaming agreements. Rather than operating mines itself, the company acquires interests that give it rights to payments or a share of future metal production from mines operated by other companies. Under a streaming agreement, Royal Gold provides financing in exchange for the right to purchase a specified portion of a mine's future production at an agreed price. Its royalties generally entitle it to payments tied to a mine's production or revenue.

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