McAlvany Wealth Management LLC increased its position in Royal Gold, Inc. (NASDAQ:RGLD – Free Report) (TSE:RGL) by 10.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 59,133 shares of the basic materials company’s stock after acquiring an additional 5,441 shares during the quarter. Royal Gold comprises about 6.8% of McAlvany Wealth Management LLC’s holdings, making the stock its 2nd biggest holding. McAlvany Wealth Management LLC owned 0.07% of Royal Gold worth $13,956,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of the company. Welch Group LLC purchased a new position in Royal Gold during the third quarter valued at approximately $254,000. Greenleaf Trust increased its holdings in Royal Gold by 5.0% during the 3rd quarter. Greenleaf Trust now owns 1,316 shares of the basic materials company’s stock worth $311,000 after acquiring an additional 63 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new stake in Royal Gold during the 3rd quarter worth approximately $104,000. Profund Advisors LLC lifted its stake in Royal Gold by 2.9% in the 3rd quarter. Profund Advisors LLC now owns 8,577 shares of the basic materials company’s stock worth $2,024,000 after purchasing an additional 238 shares in the last quarter. Finally, ProShare Advisors LLC lifted its stake in Royal Gold by 28.7% in the 3rd quarter. ProShare Advisors LLC now owns 137,681 shares of the basic materials company’s stock worth $32,493,000 after purchasing an additional 30,664 shares in the last quarter. 83.65% of the stock is currently owned by institutional investors.
Insider Activity
In related news, SVP Randy Shefman sold 500 shares of the company’s stock in a transaction 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 completion of the transaction, the senior vice president directly owned 8,082 shares in the company, valued at approximately $2,123,949.60. The trade was a 5.83% decrease in their ownership of the stock. The sale 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 3.2%
Shares of Royal Gold stock opened at $235.99 on Tuesday. Royal Gold, Inc. has a 1 year low of $168.88 and a 1 year high of $306.25. The firm has a market cap of $19.99 billion, a PE ratio of 25.76, a PEG ratio of 1.75 and a beta of 0.45. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.92 and a quick ratio of 2.68. The company has a 50 day simple moving average of $245.62 and a two-hundred day simple moving average of $241.42.
Royal Gold (NASDAQ:RGLD – Get Free Report) (TSE:RGL) last released its quarterly 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 business 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 quarterly revenue was up 114.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.81 EPS. Analysts expect that Royal Gold, Inc. will post 10.66 earnings per share for the current fiscal year.
Royal Gold Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 16th. Stockholders of record on Friday, October 2nd were issued a dividend of $0.4750 per share. This represents a $1.90 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Friday, October 2nd. Royal Gold’s payout ratio is currently 20.74%.
Wall Street Analyst Weigh In
Several brokerages have commented on RGLD. Royal Bank Of Canada raised their price target on shares of Royal Gold from $305.00 to $325.00 and gave the company an “outperform” rating in a report on Wednesday, September 16th. Scotiabank reaffirmed a “sector perform” rating and issued a $310.00 price target on shares of Royal Gold in a report on Tuesday, July 14th. Jefferies Financial Group decreased their price target on shares of Royal Gold from $318.00 to $311.00 and set a “buy” rating on the stock in a report on Monday, July 6th. Weiss Ratings upgraded Royal Gold from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, October 9th. Finally, TD lowered their price objective on Royal Gold from $315.00 to $311.00 and set a “buy” rating on the stock in a research report on Tuesday, October 20th. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $309.56.
View Our Latest Stock Analysis on Royal Gold
About Royal Gold
Royal Gold, Inc is a precious metals streaming and royalty company headquartered in Denver, Colorado. The company provides financing to mining companies in exchange for the right to purchase a portion of the gold, silver, copper, or other metals produced from their mines, typically at predetermined prices. It also holds royalty interests that entitle it to a percentage of revenue or production from mining operations without directly operating the mines.
Royal Gold’s business is focused on acquiring and managing a diversified portfolio of streaming and royalty interests.
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