Odyssean LLC acquired a new stake in Royal Gold, Inc. (NASDAQ:RGLD – Free Report) (TSE:RGL) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 2,597 shares of the basic materials company’s stock, valued at approximately $518,000.
A number of other large investors also recently modified their holdings of RGLD. Man Group plc acquired a new stake in shares of Royal Gold in the 2nd quarter valued at $5,913,000. Jupiter Topco LLC acquired a new position in shares of Royal Gold during the second quarter worth $7,541,000. ABS Investment Management LLC purchased a new position in Royal Gold in the second quarter valued at $49,903. Hsbc Holdings PLC purchased a new position in Royal Gold in the second quarter valued at $1,074,000. Finally, EFG International AG acquired a new stake in Royal Gold in the second quarter valued at $2,219,000. 83.65% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of analysts have issued reports on the company. Weiss Ratings downgraded Royal Gold from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, August 4th. Jefferies Financial Group decreased their target price on Royal Gold from $318.00 to $311.00 and set a “buy” rating for the company in a research note on Monday, July 6th. Zacks Research downgraded Royal Gold from a “hold” rating to a “strong sell” rating in a report on Friday, July 31st. Royal Bank Of Canada dropped 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 note on Thursday, July 9th. Finally, Scotiabank reissued a “sector perform” rating and set a $310.00 price objective on shares of Royal Gold in a report on Tuesday, July 14th. Seven analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $285.10.
Insider Buying and Selling
In related news, SVP Randy Shefman sold 500 shares of the stock in a transaction on Friday, August 28th. The shares were sold at an average price of $262.80, for a total transaction of $131,400.00. Following the completion of the sale, the senior vice president owned 8,082 shares in the company, valued at $2,123,949.60. This represents a 5.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.35% of the stock is currently owned by company insiders.
Royal Gold Trading Down 1.0%
RGLD opened at $262.11 on Friday. The firm has a market cap of $22.21 billion, a price-to-earnings ratio of 28.61, a price-to-earnings-growth ratio of 1.99 and a beta of 0.50. Royal Gold, Inc. has a 52 week low of $168.88 and a 52 week high of $306.25. The business’s 50 day moving average is $220.36 and its two-hundred day moving average is $236.00. The company has a quick ratio of 2.68, a current ratio of 2.92 and a debt-to-equity ratio of 0.05.
Royal Gold (NASDAQ:RGLD – Get Free Report) (TSE:RGL) last issued its quarterly earnings data on Wednesday, August 5th. The basic materials company reported $2.56 earnings per share for the quarter, beating analysts’ consensus estimates of $2.55 by $0.01. The company had revenue of $468.98 million during 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%.The firm’s revenue for the quarter was up 114.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.81 earnings per share. On average, research analysts predict that Royal Gold, Inc. will post 10.26 EPS for the current year.
Royal Gold Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Friday, October 2nd will be given a $0.475 dividend. The ex-dividend date is Friday, October 2nd. This represents a $1.90 annualized dividend and a yield of 0.7%. Royal Gold’s dividend payout ratio is 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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