Verdence Capital Advisors LLC Boosts Position in Royal Gold, Inc. $RGLD

Verdence Capital Advisors LLC raised its stake in shares of Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 5.2% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,111 shares of the basic materials company’s stock after buying an additional 155 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Royal Gold were worth $553,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. WPG Advisers LLC purchased a new position in Royal Gold during the 1st quarter valued at about $27,000. Alpine Bank Wealth Management purchased a new position in Royal Gold during the 1st quarter valued at about $32,000. Banque Cantonale Vaudoise purchased a new position in Royal Gold during the 1st quarter valued at about $34,000. Blue Trust Inc. grew its holdings in Royal Gold by 56.8% during the 2nd quarter. Blue Trust Inc. now owns 196 shares of the basic materials company’s stock valued at $35,000 after buying an additional 71 shares in the last quarter. Finally, Bayforest Capital Ltd grew its holdings in Royal Gold by 256.5% during the 1st quarter. Bayforest Capital Ltd now owns 246 shares of the basic materials company’s stock valued at $40,000 after buying an additional 177 shares in the last quarter. Hedge funds and other institutional investors own 83.65% of the company’s stock.

Royal Gold Price Performance

Shares of RGLD opened at $199.68 on Wednesday. The firm has a market cap of $13.14 billion, a P/E ratio of 29.28, a P/E/G ratio of 1.58 and a beta of 0.41. The stock has a 50 day simple moving average of $185.00 and a two-hundred day simple moving average of $176.56. Royal Gold, Inc. has a 1 year low of $130.67 and a 1 year high of $206.49.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last issued its earnings results on Wednesday, August 6th. The basic materials company reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.11. The business had revenue of $209.64 million during the quarter, compared to analyst estimates of $186.63 million. Royal Gold had a return on equity of 13.30% and a net margin of 56.24%.Royal Gold’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.25 earnings per share. On average, equities analysts anticipate that Royal Gold, Inc. will post 6.2 earnings per share for the current year.

Royal Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Friday, October 3rd will be given a $0.45 dividend. The ex-dividend date is Friday, October 3rd. This represents a $1.80 annualized dividend and a yield of 0.9%. Royal Gold’s payout ratio is presently 26.39%.

Wall Street Analyst Weigh In

RGLD has been the subject of several recent analyst reports. TD Securities reissued a “buy” rating and set a $237.00 price objective (up previously from $229.00) on shares of Royal Gold in a report on Friday, August 8th. Zacks Research lowered Royal Gold from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 19th. Wall Street Zen raised Royal Gold from a “hold” rating to a “buy” rating in a report on Saturday, August 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Royal Gold in a report on Wednesday, October 8th. Finally, CIBC boosted their price objective on Royal Gold from $225.00 to $250.00 and gave the stock a “neutral” rating in a report on Friday, October 10th. Six equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $203.00.

About Royal Gold

Royal Gold, Inc, together with its subsidiaries, acquires and manages precious metal streams, royalties, and related interests. The company engages in acquiring stream and royalty interests or to finance projects that are in production, development, or in the exploration stage in exchange for stream or royalty interests, which primarily consists of gold, silver, copper, nickel, zinc, lead, and other metals.