Orion Investment Co Acquires 5,114 Shares of Royal Gold, Inc. $RGLD

Key Points

• Orion Investment Co increased its stake in Royal Gold, Inc. by 23.8%, owning 26,630 shares valued at approximately $4.35 million.
• Royal Gold reported $1.81 EPS for the quarter, surpassing analyst expectations of $1.70, with a revenue increase of 20.4% year-over-year.
• The company announced a quarterly dividend of $0.45 per share, with a dividend yield of 1.0%, to be paid on October 17th.

Orion Investment Co lifted its position in shares of Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL by 23.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,630 shares of the basic materials company's stock after buying an additional 5,114 shares during the period. Royal Gold makes up approximately 1.8% of Orion Investment Co's portfolio, making the stock its 16th largest position. Orion Investment Co's holdings in Royal Gold were worth $4,354,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. GAMMA Investing LLC raised its stake in Royal Gold by 17,722.4% during the 1st quarter. GAMMA Investing LLC now owns 457,501 shares of the basic materials company's stock worth $74,806,000 after acquiring an additional 454,934 shares in the last quarter. Select Equity Group L.P. purchased a new position in shares of Royal Gold during the fourth quarter valued at approximately $55,825,000. Nuveen LLC purchased a new position in Royal Gold during the first quarter worth approximately $40,882,000. Victory Capital Management Inc. increased its position in shares of Royal Gold by 117.0% in the first quarter. Victory Capital Management Inc. now owns 415,179 shares of the basic materials company's stock worth $67,886,000 after acquiring an additional 223,870 shares in the last quarter. Finally, BLI Banque de Luxembourg Investments purchased a new stake in shares of Royal Gold in the fourth quarter worth about $27,536,000. Hedge funds and other institutional investors own 83.65% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on RGLD. Wall Street Zen raised shares of Royal Gold from a "hold" rating to a "buy" rating in a report on Saturday. CIBC boosted their price target on shares of Royal Gold from $202.00 to $215.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Canaccord Genuity Group lifted their price objective on shares of Royal Gold from $202.00 to $203.00 in a research note on Wednesday, June 11th. Zacks Research lowered shares of Royal Gold from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 19th. Finally, TD Securities reissued a "buy" rating and issued a $237.00 target price (up from $229.00) on shares of Royal Gold in a research report on Friday, August 8th. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $198.63.

Royal Gold Trading Up 2.0%

Shares of NASDAQ:RGLD traded up $3.55 during mid-day trading on Friday, reaching $179.58. The stock had a trading volume of 688,620 shares, compared to its average volume of 808,326. The firm has a market cap of $11.82 billion, a PE ratio of 26.33, a price-to-earnings-growth ratio of 1.31 and a beta of 0.40. The firm has a 50 day simple moving average of $166.78 and a two-hundred day simple moving average of $167.75. Royal Gold, Inc. has a twelve month low of $130.67 and a twelve month high of $191.78.

Royal Gold (NASDAQ:RGLD - Get Free Report) TSE: RGL last announced its quarterly earnings results on Wednesday, August 6th. The basic materials company reported $1.81 earnings per share for the quarter, beating analysts' consensus estimates of $1.70 by $0.11. Royal Gold had a net margin of 56.24% and a return on equity of 13.30%. The firm had revenue of $209.64 million for the quarter, compared to analyst estimates of $186.63 million. During the same quarter in the previous year, the firm posted $1.25 earnings per share. The business's revenue was up 20.4% on a year-over-year basis. On average, equities analysts anticipate that Royal Gold, Inc. will post 6.2 EPS for the current fiscal year.

Royal Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Friday, October 3rd will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Friday, October 3rd. Royal Gold's payout ratio is 26.39%.

Royal Gold Profile

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.