Headlands Technologies LLC purchased a new position in Royal Gold, Inc. (NASDAQ:RGLD – Free Report) (TSE:RGL) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 2,997 shares of the basic materials company’s stock, valued at approximately $598,000.
Other large investors also recently modified their holdings of the company. Axiom Investment Management LLC bought a new position in Royal Gold during the first quarter worth $25,000. Elyxium Wealth LLC acquired a new position in Royal Gold during the 4th quarter valued at $27,000. Gen Wealth Partners Inc bought a new stake in Royal Gold in the 4th quarter valued at $27,000. Scarborough Advisors LLC bought a new stake in Royal Gold in the 1st quarter valued at $32,000. Finally, Grove Bank & Trust grew its position in Royal Gold by 88.6% in the 2nd 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 last quarter. 83.65% of the stock is currently owned by institutional investors and hedge funds.
Royal Gold Stock Up 1.7%
Shares of RGLD stock opened at $258.38 on Thursday. Royal Gold, Inc. has a one year low of $168.88 and a one year high of $306.25. 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 stock has a fifty day moving average price of $218.07 and a 200 day moving average price of $235.96. The stock has a market cap of $21.89 billion, a P/E ratio of 28.21, a price-to-earnings-growth ratio of 1.91 and a beta of 0.50.
Royal Gold Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Shareholders of record on Friday, October 2nd will be paid a dividend of $0.475 per share. The ex-dividend date is Friday, October 2nd. This represents a $1.90 dividend on an annualized basis and a yield of 0.7%. Royal Gold’s dividend payout ratio (DPR) is currently 20.74%.
Wall Street Analyst Weigh In
Several research analysts have recently issued reports on RGLD shares. UBS Group boosted their price objective on shares of Royal Gold from $280.00 to $285.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Zacks Research cut shares of Royal Gold from a “hold” rating to a “strong sell” rating in a research note on Friday, July 31st. Royal Bank Of Canada decreased their target price on Royal Gold from $310.00 to $305.00 and set an “outperform” rating on the stock in a research report on Thursday, July 9th. Jefferies Financial Group lowered their price target 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. Finally, Scotiabank restated a “sector perform” rating and set a $310.00 price target on shares of Royal Gold in a research note on Tuesday, July 14th. Seven investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $285.10.
Get Our Latest Research Report on Royal Gold
Insiders Place Their Bets
In other Royal Gold news, SVP Randy Shefman sold 500 shares of Royal Gold stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $262.80, for a total transaction of $131,400.00. Following the sale, the senior vice president directly owned 8,082 shares of the company’s stock, valued at approximately $2,123,949.60. The trade was a 5.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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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