The Manufacturers Life Insurance Company Invests $7.61 Million in Royal Gold, Inc. $RGLD

Key Points

• The Manufacturers Life Insurance Company acquired 38,132 Royal Gold shares worth approximately $7.61 million during the second quarter. 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. Analysts have an overall “Hold” rating and an average price target of $285.10.
• The company declared a quarterly dividend of $0.475 per share, equivalent to $1.90 annually and a 0.7% yield. Shares opened at $262.85, within a 12-month range of $168.88 to $306.25.

The Manufacturers Life Insurance Company bought a new stake in Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 38,132 shares of the basic materials company's stock, valued at approximately $7,612,000.

Other large investors also recently made changes to their positions in the company. Axiom Investment Management LLC acquired a new stake in shares of Royal Gold during the first quarter worth $25,000. Grove Bank & Trust increased its position in Royal Gold by 88.6% during the second quarter. Grove Bank & Trust now owns 132 shares of the basic materials company's stock worth $26,000 after acquiring an additional 62 shares during the period. Elyxium Wealth LLC bought a new position in Royal Gold during the fourth quarter worth about $27,000. Gen Wealth Partners Inc acquired a new stake in Royal Gold in the 4th quarter worth about $27,000. Finally, Scarborough Advisors LLC acquired a new stake in Royal Gold in the 1st quarter worth about $32,000. Institutional investors own 83.65% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Weiss Ratings lowered shares of Royal Gold from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday, August 4th. Scotiabank reiterated a "sector perform" rating and issued a $310.00 price target on shares of Royal Gold in a research note on Tuesday, July 14th. Jefferies Financial Group reduced their price target on Royal Gold from $318.00 to $311.00 and set a "buy" rating on the stock in a research report on Monday, July 6th. Royal Bank Of Canada lowered their price objective on Royal Gold from $310.00 to $305.00 and set an "outperform" rating on the stock in a research note on Thursday, July 9th. Finally, Zacks Research cut Royal Gold from a "hold" rating to a "strong sell" rating in a report on Friday, July 31st. Seven research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Royal Gold presently has an average rating of "Hold" and an average price target of $285.10.

Insiders Place Their Bets

In other Royal Gold news, SVP Randy Shefman sold 500 shares of the firm's stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $262.80, for a total value of $131,400.00. Following the sale, the senior vice president owned 8,082 shares in the company, valued at $2,123,949.60. This trade represents a 5.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.35% of the stock is owned by corporate insiders.

Royal Gold Stock Performance

Royal Gold stock opened at $262.85 on Monday. The company has a quick ratio of 2.68, a current ratio of 2.92 and a debt-to-equity ratio of 0.05. The stock has a market cap of $22.27 billion, a PE ratio of 28.70, a P/E/G ratio of 1.98 and a beta of 0.44. Royal Gold, Inc. has a 12-month low of $168.88 and a 12-month high of $306.25. The business's 50-day moving average price is $215.06 and its two-hundred day moving average price is $236.44.

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

Royal Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Friday, October 2nd will be paid a $0.475 dividend. The ex-dividend date of this dividend is Friday, October 2nd. This represents a $1.90 annualized dividend and a yield of 0.7%. Royal Gold's dividend payout ratio is presently 20.74%.

Royal Gold Profile

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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