Ieq Capital LLC purchased 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 & Exchange Commission. The institutional investor purchased 33,402 shares of the basic materials company’s stock, valued at approximately $6,667,000.
Several other large investors have also modified their holdings of RGLD. Axiom Investment Management LLC purchased a new position in shares of Royal Gold during the 1st quarter worth approximately $25,000. Grove Bank & Trust lifted its stake in Royal Gold by 88.6% in the 2nd 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. Elyxium Wealth LLC acquired a new stake in Royal Gold during the 4th quarter valued at $27,000. Gen Wealth Partners Inc acquired a new stake in Royal Gold during the 4th quarter valued at $27,000. Finally, Scarborough Advisors LLC purchased a new position in Royal Gold during the first quarter worth $32,000. 83.65% of the stock is currently owned by institutional investors and hedge funds.
Royal Gold Price Performance
Shares of NASDAQ RGLD opened at $259.01 on Monday. The firm has a market cap of $21.95 billion, a P/E ratio of 28.28, a price-to-earnings-growth ratio of 1.95 and a beta of 0.44. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.68 and a current ratio of 2.92. Royal Gold, Inc. has a 1 year low of $168.88 and a 1 year high of $306.25. The firm’s 50 day moving average price is $210.17 and its 200 day moving average price is $236.44.
Royal Gold Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Friday, October 2nd will be given a $0.475 dividend. The ex-dividend date of this dividend is Friday, October 2nd. This represents a $1.90 dividend on an annualized basis and a dividend yield of 0.7%. Royal Gold’s payout ratio is currently 20.74%.
Analyst Upgrades and Downgrades
RGLD has been the subject of a number of analyst reports. Scotiabank reissued a “sector perform” rating and issued a $310.00 price target on shares of Royal Gold in a report on Tuesday, July 14th. Zacks Research lowered Royal Gold from a “hold” rating to a “strong sell” rating in a research note on Friday, July 31st. Royal Bank Of Canada dropped their price objective on Royal Gold from $310.00 to $305.00 and set an “outperform” rating for the company in a research report on Thursday, July 9th. Weiss Ratings downgraded shares of Royal Gold from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, August 4th. Finally, Jefferies Financial Group cut their target price on shares of Royal Gold from $318.00 to $311.00 and set a “buy” rating for the company in a research note on Monday, July 6th. Seven investment 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 data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $285.10.
Read Our Latest Stock Analysis on Royal Gold
Insider Buying and Selling
In related news, SVP Randy Shefman sold 500 shares of the company’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $215.85, for a total value of $107,925.00. Following the completion of the transaction, the senior vice president directly owned 8,582 shares in the company, valued at approximately $1,852,424.70. This represents a 5.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.35% of the company’s stock.
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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