Summit Securities Group LLC acquired a new stake in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 5,100 shares of the basic materials company’s stock, valued at approximately $399,000.
Several other hedge funds have also modified their holdings of RGLD. IFP Advisors Inc boosted its stake in shares of Royal Gold by 1.7% in the second quarter. IFP Advisors Inc now owns 2,343 shares of the basic materials company’s stock valued at $183,000 after buying an additional 39 shares in the last quarter. Meadow Creek Investment Management LLC boosted its stake in shares of Royal Gold by 6.2% in the first quarter. Meadow Creek Investment Management LLC now owns 1,648 shares of the basic materials company’s stock valued at $115,000 after buying an additional 96 shares in the last quarter. World Asset Management Inc boosted its stake in shares of Royal Gold by 2.6% in the first quarter. World Asset Management Inc now owns 4,084 shares of the basic materials company’s stock valued at $286,000 after buying an additional 102 shares in the last quarter. US Bancorp DE boosted its stake in shares of Royal Gold by 6.4% in the second quarter. US Bancorp DE now owns 2,120 shares of the basic materials company’s stock valued at $166,000 after buying an additional 127 shares in the last quarter. Finally, Neuburgh Advisers LLC boosted its stake in shares of Royal Gold by 6.2% in the first quarter. Neuburgh Advisers LLC now owns 2,266 shares of the basic materials company’s stock valued at $159,000 after buying an additional 132 shares in the last quarter. 70.57% of the stock is currently owned by institutional investors.
Shares of Royal Gold, Inc. (NASDAQ RGLD) opened at 87.23 on Friday. The company has a market cap of $5.69 billion, a PE ratio of 56.28 and a beta of 0.68. Royal Gold, Inc. has a 12 month low of $60.21 and a 12 month high of $88.03. The firm’s 50-day moving average is $82.15 and its 200-day moving average is $74.41.
Royal Gold (NASDAQ:RGLD) (TSE:RGL) last released its quarterly earnings data on Wednesday, August 9th. The basic materials company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by $0.02. Royal Gold had a net margin of 23.03% and a return on equity of 4.19%. The firm had revenue of $108.90 million during the quarter, compared to analysts’ expectations of $108.72 million. During the same quarter in the previous year, the firm posted $0.32 EPS. Royal Gold’s revenue was up 15.7% compared to the same quarter last year. On average, equities research analysts predict that Royal Gold, Inc. will post $1.91 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 21st. Shareholders of record on Friday, July 7th were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date was Wednesday, July 5th. Royal Gold’s payout ratio is 61.54%.
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Several brokerages recently weighed in on RGLD. Zacks Investment Research raised shares of Royal Gold from a “hold” rating to a “buy” rating and set a $84.00 price objective on the stock in a research note on Wednesday, June 21st. Canaccord Genuity reissued a “buy” rating and issued a $105.00 price objective (up previously from $99.00) on shares of Royal Gold in a research note on Thursday. Raymond James Financial, Inc. reissued a “market perform” rating and issued a $88.00 price objective on shares of Royal Gold in a research note on Thursday, June 15th. BidaskClub cut shares of Royal Gold from a “buy” rating to a “hold” rating in a research note on Saturday, June 10th. Finally, Scotiabank boosted their price objective on shares of Royal Gold from $81.00 to $115.00 and gave the stock a “sector perform” rating in a research note on Friday, May 12th. One analyst has rated the stock with a sell rating, five have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $91.59.
In other Royal Gold news, CFO Stefan Wenger sold 2,500 shares of the business’s stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $80.00, for a total value of $200,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Tony A. Jensen sold 25,000 shares of the business’s stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $80.00, for a total transaction of $2,000,000.00. The disclosure for this sale can be found here. Insiders sold 57,629 shares of company stock worth $4,736,660 in the last 90 days. Corporate insiders own 1.37% of the company’s stock.
Royal Gold Company Profile
Royal Gold, Inc, together with its subsidiaries, is engaged in acquiring and managing precious metal streams, royalties and similar interests. The Company operates through two segments: Acquisition and Management of Stream Interests, and Acquisition and Management of Royalty Interests. Its assets are located in Canada, Chile, Dominican Republic, Mexico, the United States, Africa, Australia and Other.
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