EP Wealth Advisors LLC bought a new position in Royal Gold, Inc. (NASDAQ:RGLD – Free Report) (TSE:RGL) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 2,356 shares of the basic materials company’s stock, valued at approximately $470,000.
A number of other institutional investors and hedge funds have also recently bought and sold shares of RGLD. Axiom Investment Management LLC bought a new stake in Royal Gold during the first quarter valued at about $25,000. Grove Bank & Trust increased its stake in shares of Royal Gold by 88.6% in the second quarter. Grove Bank & Trust now owns 132 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 62 shares during the period. Elyxium Wealth LLC acquired a new position in shares of Royal Gold during the 4th quarter worth about $27,000. Gen Wealth Partners Inc acquired a new position in shares of Royal Gold during the 4th quarter worth about $27,000. Finally, Scarborough Advisors LLC bought a new stake in Royal Gold during the 1st quarter valued at approximately $32,000. Institutional investors and hedge funds own 83.65% of the company’s stock.
Insider Activity
In other news, SVP Randy Shefman sold 500 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $215.85, for a total transaction of $107,925.00. Following the completion of the transaction, the senior vice president directly owned 8,582 shares of the company’s stock, valued at approximately $1,852,424.70. This trade represents a 5.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.35% of the company’s stock.
Royal Gold Trading Up 1.5%
Royal Gold (NASDAQ:RGLD – Get Free Report) (TSE:RGL) last released its quarterly earnings data on Wednesday, August 5th. The basic materials company reported $2.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.55 by $0.01. The business had revenue of $468.98 million for the quarter, compared to analysts’ expectations of $458.85 million. Royal Gold had a return on equity of 12.06% and a net margin of 47.74%.Royal Gold’s quarterly revenue was up 114.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.81 earnings per share. As a group, equities analysts forecast that Royal Gold, Inc. will post 10.26 EPS for the current year.
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 paid a $0.475 dividend. The ex-dividend date is Friday, October 2nd. This represents a $1.90 dividend on an annualized basis and a dividend yield of 0.7%. Royal Gold’s dividend payout ratio is currently 20.74%.
Analyst Upgrades and Downgrades
A number of analysts have issued reports on RGLD shares. Royal Bank Of Canada lowered their target price on Royal Gold from $310.00 to $305.00 and set an “outperform” rating on the stock in a report on Thursday, July 9th. Scotiabank reissued a “sector perform” rating and issued a $310.00 price objective on shares of Royal Gold in a research report on Tuesday, July 14th. Zacks Research downgraded shares of Royal Gold from a “hold” rating to a “strong sell” rating in a research note on Friday, July 31st. UBS Group raised their price objective on shares of Royal Gold from $280.00 to $285.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Finally, Jefferies Financial Group dropped their target price on shares of Royal Gold from $318.00 to $311.00 and set a “buy” rating on the stock in a research report on Monday, July 6th. Seven equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Royal Gold presently has a consensus rating of “Hold” and a consensus price target of $285.10.
Check Out Our Latest Analysis on Royal Gold
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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