Parvin Asset Management LLC bought a new stake in Royal Gold, Inc. (NASDAQ:RGLD – Free Report) (TSE:RGL) during the 2nd quarter, Holdings Channel reports. The fund bought 11,885 shares of the basic materials company’s stock, valued at approximately $2,372,000. Royal Gold accounts for about 1.9% of Parvin Asset Management LLC’s investment portfolio, making the stock its 6th largest holding.
Other institutional investors also recently modified their holdings of the company. Axiom Investment Management LLC acquired a new position in Royal Gold in the first quarter valued at approximately $25,000. Grove Bank & Trust raised its position in shares of Royal Gold by 88.6% during the 2nd quarter. Grove Bank & Trust now owns 132 shares of the basic materials company’s stock valued at $26,000 after acquiring an additional 62 shares during the last quarter. Elyxium Wealth LLC bought a new stake in shares of Royal Gold during the 4th quarter valued at $27,000. Gen Wealth Partners Inc acquired a new position in shares of Royal Gold in the 4th quarter valued at $27,000. Finally, Scarborough Advisors LLC bought a new position in shares of Royal Gold in the 1st quarter worth $32,000. Institutional investors and hedge funds own 83.65% of the company’s stock.
Royal Gold Stock Down 0.6%
NASDAQ:RGLD opened at $266.14 on Thursday. The stock has a 50-day simple moving average of $213.02 and a 200 day simple moving average of $236.53. Royal Gold, Inc. has a 52-week low of $168.88 and a 52-week high of $306.25. The company has a market cap of $22.55 billion, a PE ratio of 29.05, a PEG ratio of 2.02 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 Dividend Announcement
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 issued 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 (DPR) is 20.74%.
Insider Activity at Royal Gold
In other news, SVP Randy Shefman sold 500 shares of the business’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $215.85, for a total value of $107,925.00. Following the sale, the senior vice president owned 8,582 shares of the company’s stock, valued at $1,852,424.70. The trade was a 5.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.35% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
RGLD has been the topic of a number of recent analyst reports. Weiss Ratings cut Royal Gold from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, August 4th. Zacks Research cut Royal Gold from a “hold” rating to a “strong sell” rating in a research note on Friday, July 31st. Royal Bank Of Canada cut their price target on shares of Royal Gold from $310.00 to $305.00 and set an “outperform” rating on the stock in a research report on Thursday, July 9th. Scotiabank reissued a “sector perform” rating and set a $310.00 price target on shares of Royal Gold in a research report on Tuesday, July 14th. Finally, Jefferies Financial Group dropped their price objective on Royal Gold from $318.00 to $311.00 and set a “buy” rating on the stock in a research note on Monday, July 6th. Seven equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $285.10.
Get Our Latest Stock Analysis on RGLD
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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