Royal Gold, Inc. $RGLD Shares Purchased by Vestcor Inc

Key Points

• Vestcor Inc increased its stake in Royal Gold by 62.5% in the fourth quarter, bringing its holdings to 32,177 shares valued at about $7.15 million.
• Several other institutional investors also boosted their positions, and overall 83.65% of Royal Gold stock is owned by institutions and hedge funds.
• Royal Gold’s executives sold shares recently, while the company also declared a quarterly dividend of $0.475 per share; analysts currently have a Moderate Buy consensus with a target price of $273.64.

Vestcor Inc lifted its position in Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL by 62.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,177 shares of the basic materials company's stock after acquiring an additional 12,381 shares during the period. Vestcor Inc's holdings in Royal Gold were worth $7,153,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. SG Americas Securities LLC lifted its position in Royal Gold by 52.8% during the fourth quarter. SG Americas Securities LLC now owns 17,671 shares of the basic materials company's stock worth $3,928,000 after buying an additional 6,109 shares during the period. Louisbourg Investments Inc. purchased a new position in shares of Royal Gold in the 4th quarter worth about $3,938,000. Prospera Financial Services Inc purchased a new position in shares of Royal Gold in the 3rd quarter worth about $1,068,000. Plancorp LLC raised its holdings in shares of Royal Gold by 69.8% in the 4th quarter. Plancorp LLC now owns 13,732 shares of the basic materials company's stock worth $3,053,000 after purchasing an additional 5,646 shares during the period. Finally, Neuberger Berman Group LLC raised its holdings in shares of Royal Gold by 22.9% in the 3rd quarter. Neuberger Berman Group LLC now owns 135,050 shares of the basic materials company's stock worth $27,056,000 after purchasing an additional 25,187 shares during the period. 83.65% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Royal Gold

In other Royal Gold news, SVP Randy Shefman sold 1,000 shares of the firm's stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $243.74, for a total transaction of $243,740.00. Following the completion of the sale, the senior vice president owned 9,082 shares in the company, valued at $2,213,646.68. This trade represents a 9.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark Isto sold 2,000 shares of the firm's stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $274.83, for a total value of $549,660.00. Following the sale, the director owned 20,043 shares of the company's stock, valued at approximately $5,508,417.69. This trade represents a 9.07% decrease in their position. The SEC filing for this sale provides additional information. 0.35% of the stock is currently owned by company insiders.

Royal Gold Price Performance

RGLD stock opened at $206.07 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 3.26 and a current ratio of 3.52. Royal Gold, Inc. has a 1 year low of $150.75 and a 1 year high of $306.25. The firm has a market cap of $17.49 billion, a P/E ratio of 24.56, a price-to-earnings-growth ratio of 1.63 and a beta of 0.41. The stock has a 50-day simple moving average of $241.41 and a 200-day simple moving average of $244.70.

Royal Gold Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 16th. Stockholders of record on Thursday, July 2nd will be paid a $0.475 dividend. The ex-dividend date is Thursday, July 2nd. This represents a $1.90 dividend on an annualized basis and a dividend yield of 0.9%. Royal Gold's dividend payout ratio (DPR) is 22.65%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Weiss Ratings restated a "buy (b)" rating on shares of Royal Gold in a report on Tuesday, April 21st. UBS Group set a $325.00 price objective on Royal Gold and gave the stock a "buy" rating in a report on Wednesday, April 15th. Zacks Research downgraded Royal Gold from a "hold" rating to a "strong sell" rating in a report on Tuesday, May 5th. Finally, National Bank Financial cut their price objective on Royal Gold from $350.00 to $340.00 and set an "outperform" rating on the stock in a report on Friday, April 17th. Eight investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, Royal Gold has a consensus rating of "Moderate Buy" and a consensus target price of $273.64.

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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