Royal Gold, Inc. $RGLD Stake Boosted by Euro Pacific Asset Management LLC

Key Points

• Euro Pacific Asset Management increased its Royal Gold stake by 5.3% in the third quarter, bringing its holdings to 174,231 shares valued at approximately $45.6 million. Institutional investors collectively own 83.65% of the company.
• Royal Gold reported quarterly EPS of $2.56, slightly exceeding estimates, while revenue rose 114.9% year over year to $468.98 million. The company also declared a quarterly dividend of $0.475, or $1.90 annually, yielding about 0.8%.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $289.64 versus the reported share price of $233.52.

Euro Pacific Asset Management LLC lifted its stake in shares of Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL by 5.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 174,231 shares of the basic materials company's stock after buying an additional 8,691 shares during the quarter. Royal Gold makes up approximately 3.0% of Euro Pacific Asset Management LLC's portfolio, making the stock its 11th biggest position. Euro Pacific Asset Management LLC owned 0.21% of Royal Gold worth $45,570,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Axiom Investment Management LLC purchased a new stake in shares of Royal Gold during the 1st quarter worth $25,000. Scarborough Advisors LLC purchased a new position in Royal Gold in the first quarter valued at $32,000. Eastern Bank increased its holdings in Royal Gold by 622.2% in the third quarter. Eastern Bank now owns 130 shares of the basic materials company's stock valued at $31,000 after buying an additional 112 shares during the last quarter. Grove Bank & Trust raised its stake in Royal Gold by 88.6% in the second quarter. Grove Bank & Trust now owns 132 shares of the basic materials company's stock valued at $26,000 after buying an additional 62 shares in the last quarter. Finally, Purpose Unlimited Inc. acquired a new stake in Royal Gold in the fourth quarter valued at $33,000. 83.65% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Royal Gold

In related news, SVP Randy Shefman sold 500 shares of the 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 completion of the sale, the senior vice president owned 8,082 shares in the company, valued at $2,123,949.60. This represents a 5.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.35% of the stock is owned by insiders.

Royal Gold Stock Performance

Shares of Royal Gold stock traded down $3.39 on Tuesday, hitting $233.52. The stock had a trading volume of 446,121 shares, compared to its average volume of 844,774. The stock has a market cap of $19.79 billion, a price-to-earnings ratio of 25.49, a P/E/G ratio of 1.78 and a beta of 0.45. The company has a current ratio of 2.92, a quick ratio of 2.68 and a debt-to-equity ratio of 0.05. Royal Gold, Inc. has a 52-week low of $168.88 and a 52-week high of $306.25. The company's 50 day moving average price is $245.40 and its 200 day moving average price is $231.33.

Royal Gold (NASDAQ:RGLD - Get Free Report) TSE: RGL last released its quarterly earnings results on Wednesday, August 5th. The basic materials company reported $2.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.55 by $0.01. The firm had revenue of $468.98 million for the quarter, compared to the consensus estimate of $458.85 million. Royal Gold had a return on equity of 12.06% and a net margin of 47.74%. The firm's quarterly revenue was up 114.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.81 EPS. On average, research analysts anticipate that Royal Gold, Inc. will post 10.26 EPS for the current year.

Royal Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Friday, October 2nd will be issued a $0.4750 dividend. This represents a $1.90 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Friday, October 2nd. Royal Gold's payout ratio is presently 20.74%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on RGLD shares. Zacks Research raised Royal Gold from a "strong sell" rating to a "hold" rating in a research report on Monday, September 7th. Weiss Ratings upgraded Royal Gold from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday. Royal Bank Of Canada raised their target price on Royal Gold from $305.00 to $325.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 16th. UBS Group boosted their target price on Royal Gold from $280.00 to $285.00 and gave the stock a "buy" rating in a research note on Friday, August 7th. Finally, Scotiabank restated a "sector perform" rating and set a $310.00 target price on shares of Royal Gold in a research note on Tuesday, July 14th. Nine investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Royal Gold has a consensus rating of "Moderate Buy" and an average price target of $289.64.

Royal Gold Company Profile

Royal Gold, Inc is a precious metals streaming and royalty company headquartered in Denver, Colorado. Rather than operating mines directly, the company finances mining projects and acquires interests that provide rights to purchase a portion of the metals produced from those operations or to receive royalty payments based on mine revenue.

Royal Gold's portfolio is primarily focused on gold, with additional exposure to silver, copper and other metals. Its interests include streaming agreements and royalties associated with projects such as Pueblo Viejo in the Dominican Republic and Mount Milligan in British Columbia, Canada.

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