Sheets Smith Wealth Management Makes New $662,000 Investment in Royal Gold, Inc. $RGLD

Key Points

• Sheets Smith Wealth Management invested approximately $662,000 in Royal Gold, acquiring 3,720 shares during the second quarter.
• Royal Gold reported a quarterly earnings per share (EPS) of $1.81, exceeding analysts' expectations of $1.70 and marking a 20.4% year-over-year revenue increase.
• The company announced a quarterly dividend of $0.45 per share, representing a dividend yield of 1.0%, to be paid on October 17th.

Sheets Smith Wealth Management bought a new position in shares of Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 3,720 shares of the basic materials company's stock, valued at approximately $662,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Counterpoint Mutual Funds LLC bought a new position in Royal Gold in the second quarter worth about $1,877,000. GAMMA Investing LLC raised its holdings in Royal Gold by 11.9% in the second quarter. GAMMA Investing LLC now owns 3,132 shares of the basic materials company's stock worth $557,000 after purchasing an additional 334 shares in the last quarter. Physician Wealth Advisors Inc. raised its holdings in Royal Gold by 42.5% in the second quarter. Physician Wealth Advisors Inc. now owns 1,026 shares of the basic materials company's stock worth $182,000 after purchasing an additional 306 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in Royal Gold by 18.6% in the second quarter. Farther Finance Advisors LLC now owns 963 shares of the basic materials company's stock worth $171,000 after purchasing an additional 151 shares in the last quarter. Finally, UMB Bank n.a. raised its holdings in Royal Gold by 7.3% in the second quarter. UMB Bank n.a. now owns 1,687 shares of the basic materials company's stock worth $300,000 after purchasing an additional 115 shares in the last quarter. 83.65% of the stock is currently owned by institutional investors.

Royal Gold Stock Performance

Shares of RGLD stock opened at $189.46 on Thursday. Royal Gold, Inc. has a fifty-two week low of $130.67 and a fifty-two week high of $196.00. The firm has a market capitalization of $12.47 billion, a PE ratio of 27.78, a P/E/G ratio of 1.52 and a beta of 0.43. The stock's 50-day simple moving average is $172.79 and its 200-day simple moving average is $172.33.

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

Royal Gold Dividend Announcement

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

Analyst Upgrades and Downgrades

RGLD has been the subject of a number of recent research reports. Zacks Research downgraded shares of Royal Gold from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 19th. Wall Street Zen upgraded shares of Royal Gold from a "hold" rating to a "buy" rating in a report on Saturday, August 30th. Canaccord Genuity Group raised their price target on Royal Gold from $202.00 to $203.00 in a report on Wednesday, June 11th. Finally, TD Securities reissued a "buy" rating and issued a $237.00 price target (up previously from $229.00) on shares of Royal Gold in a report on Friday, August 8th. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $198.63.

About Royal Gold

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.

Want to see what other hedge funds are holding RGLD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.