Moors & Cabot Inc. bought a new stake in Royal Gold, Inc. (NASDAQ:RGLD – Free Report) (TSE:RGL) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 6,854 shares of the basic materials company’s stock, valued at approximately $1,524,000.
Several other institutional investors have also recently bought and sold shares of RGLD. Foundations Investment Advisors LLC bought a new stake in shares of Royal Gold during the 4th quarter valued at $201,000. Huntington National Bank boosted its stake in Royal Gold by 27.2% in the 4th quarter. Huntington National Bank now owns 262 shares of the basic materials company’s stock worth $58,000 after purchasing an additional 56 shares during the period. Geode Capital Management LLC boosted its stake in Royal Gold by 4.2% in the 4th quarter. Geode Capital Management LLC now owns 1,952,363 shares of the basic materials company’s stock worth $434,063,000 after purchasing an additional 78,344 shares during the period. Employees Retirement System of Texas boosted its stake in Royal Gold by 20.1% in the 4th quarter. Employees Retirement System of Texas now owns 1,921 shares of the basic materials company’s stock worth $427,000 after purchasing an additional 322 shares during the period. Finally, M3 Wealth Management LLC bought a new stake in Royal Gold during the 4th quarter worth about $283,000. Institutional investors own 83.65% of the company’s stock.
Royal Gold Stock Performance
NASDAQ RGLD opened at $224.48 on Friday. The company has a current ratio of 3.52, a quick ratio of 3.26 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $19.05 billion, a price-to-earnings ratio of 26.76, a P/E/G ratio of 1.67 and a beta of 0.43. The firm’s 50 day simple moving average is $242.27 and its 200 day simple moving average is $243.72. Royal Gold, Inc. has a 1 year low of $150.75 and a 1 year high of $306.25.
Royal Gold Dividend Announcement
Analyst Ratings Changes
Several brokerages have commented on RGLD. Weiss Ratings reissued a “buy (b)” rating on shares of Royal Gold in a research report on Tuesday, April 21st. National Bank Financial lowered their price target on shares of Royal Gold from $350.00 to $340.00 and set an “outperform” rating on the stock in a report on Friday, April 17th. Zacks Research lowered shares of Royal Gold from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 5th. UBS Group set a $325.00 target price on shares of Royal Gold and gave the stock a “buy” rating in a research report on Wednesday, April 15th. Finally, Canadian Imperial Bank of Commerce reiterated a “neutral” rating and set a $330.00 price target on shares of Royal Gold in a research report on Wednesday, February 4th. Eight analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $273.64.
Read Our Latest Analysis on RGLD
Insider Activity
In related news, Director Mark Isto sold 2,000 shares of Royal Gold stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $274.83, for a total transaction of $549,660.00. Following the completion of the transaction, the director owned 20,043 shares of the company’s stock, valued at $5,508,417.69. This trade represents a 9.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Randy Shefman sold 1,000 shares of Royal Gold stock in a transaction on Monday, May 11th. The stock was sold at an average price of $243.74, for a total transaction of $243,740.00. Following the transaction, the senior vice president directly owned 9,082 shares of the company’s stock, valued at $2,213,646.68. This represents a 9.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 4,400 shares of company stock valued at $1,214,618. Insiders own 0.35% of the company’s stock.
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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