Uncommon Cents Investing Inc boosted its position in shares of Royal Gold, Inc. (NASDAQ:RGLD – Free Report) (TSE:RGL) by 24.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 14,705 shares of the basic materials company’s stock after buying an additional 2,865 shares during the quarter. Uncommon Cents Investing Inc’s holdings in Royal Gold were worth $3,470,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. Axiom Investment Management LLC bought a new stake in shares of Royal Gold during the first quarter worth $25,000. Grove Bank & Trust lifted its stake in shares of Royal Gold by 88.6% during the second 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 period. Eastern Bank boosted its holdings in Royal Gold by 622.2% in the third quarter. Eastern Bank now owns 130 shares of the basic materials company’s stock valued at $31,000 after acquiring an additional 112 shares during the last quarter. Scarborough Advisors LLC bought a new position in Royal Gold in the first quarter valued at about $32,000. Finally, Core Capital Management & Research inc. bought a new position in Royal Gold in the second quarter valued at about $32,000. 83.65% of the stock is currently owned by institutional investors.
Royal Gold Stock Performance
RGLD stock opened at $238.78 on Wednesday. The business’s fifty day moving average is $246.75 and its 200-day moving average is $230.95. The company has a quick ratio of 2.68, a current ratio of 2.92 and a debt-to-equity ratio of 0.05. The company has a market cap of $20.23 billion, a P/E ratio of 24.45, a price-to-earnings-growth ratio of 1.77 and a beta of 0.45. Royal Gold, Inc. has a twelve month low of $168.88 and a twelve month high of $306.25.
Royal Gold (NASDAQ:RGLD – Get Free Report) (TSE:RGL) last posted its quarterly earnings results on Wednesday, August 5th. The basic materials company reported $2.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.55 by $0.01. Royal Gold had a return on equity of 12.06% and a net margin of 47.74%. The business had revenue of $468.98 million for the quarter, compared to analyst estimates of $458.85 million. During the same period last year, the company earned $1.81 EPS. The firm’s revenue was up 114.9% on a year-over-year basis. Equities research analysts forecast that Royal Gold, Inc. will post 10.30 EPS for the current year.
Royal Gold Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, October 16th. Shareholders of record on Friday, October 2nd were paid a $0.4750 dividend. The ex-dividend date of this dividend was Friday, October 2nd. This represents a $1.90 annualized dividend and a yield of 0.8%. Royal Gold’s dividend payout ratio is presently 20.74%.
Analyst Ratings Changes
A number of brokerages recently commented on RGLD. Canadian Imperial Bank of Commerce set a $305.00 price objective on Royal Gold in a research report on Friday. Royal Bank Of Canada upped their target price on shares of Royal Gold from $305.00 to $325.00 and gave the company an “outperform” rating in a research report on Wednesday, September 16th. UBS Group upped their target price on shares of Royal Gold from $280.00 to $285.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Raymond James Financial reaffirmed an “outperform” rating and issued a $336.00 target price on shares of Royal Gold in a research note on Tuesday. Finally, TD lowered their price target on shares of Royal Gold from $315.00 to $311.00 and set a “buy” rating for the company in a research report on Tuesday. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $309.56.
Get Our Latest Analysis on RGLD
Insiders Place Their Bets
In other Royal Gold news, SVP Randy Shefman sold 500 shares of the firm’s stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $262.80, for a total transaction of $131,400.00. Following the transaction, the senior vice president owned 8,082 shares in the company, valued at approximately $2,123,949.60. This trade represents a 5.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.35% of the company’s stock.
Royal Gold Company Profile
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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