Muhlenkamp & Co. Inc. Makes New Investment in Royal Gold, Inc. $RGLD

Muhlenkamp & Co. Inc. bought a new stake in shares of Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 88,088 shares of the basic materials company’s stock, valued at approximately $17,583,000. Royal Gold accounts for 5.1% of Muhlenkamp & Co. Inc.’s portfolio, making the stock its 10th largest holding.

Other institutional investors have also recently made changes to their positions in the company. Axiom Investment Management LLC bought a new stake in Royal Gold in the 1st quarter worth approximately $25,000. Grove Bank & Trust lifted its holdings in shares of Royal Gold by 88.6% during the 2nd quarter. Grove Bank & Trust now owns 132 shares of the basic materials company’s stock valued at $26,000 after buying an additional 62 shares during the period. Elyxium Wealth LLC bought a new position in shares of Royal Gold during the 4th quarter valued at $27,000. Gen Wealth Partners Inc purchased a new position in shares of Royal Gold in the 4th quarter worth $27,000. Finally, Scarborough Advisors LLC purchased a new position in shares of Royal Gold in the 1st quarter worth $32,000. Hedge funds and other institutional investors own 83.65% of the company’s stock.

Insider Activity at Royal Gold

In other news, SVP Randy Shefman sold 500 shares of Royal Gold 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 directly owned 8,082 shares of the company’s stock, valued at $2,123,949.60. The trade was a 5.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.35% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Zacks Research cut Royal Gold from a “hold” rating to a “strong sell” rating in a research report on Friday, July 31st. Scotiabank reissued a “sector perform” rating and issued a $310.00 target price on shares of Royal Gold in a research report on Tuesday, July 14th. Royal Bank Of Canada dropped 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 reduced their price target on shares of Royal Gold from $318.00 to $311.00 and set a “buy” rating for the company in a research report on Monday, July 6th. Finally, UBS Group increased their price objective on shares of Royal Gold from $280.00 to $285.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Seven equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $285.10.

Royal Gold Trading Down 2.3%

NASDAQ:RGLD opened at $262.85 on Friday. 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 firm has a market capitalization of $22.27 billion, a price-to-earnings ratio of 28.70, a price-to-earnings-growth ratio of 2.02 and a beta of 0.44. Royal Gold, Inc. has a one year low of $168.88 and a one year high of $306.25. The business has a fifty day moving average price of $215.06 and a 200-day moving average price of $236.73.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last released its earnings results on Wednesday, August 5th. The basic materials company reported $2.56 earnings per share for the quarter, beating the consensus estimate of $2.55 by $0.01. The company had revenue of $468.98 million for the quarter, compared to the consensus estimate of $458.85 million. Royal Gold had a return on equity of 12.06% and a net margin of 47.74%.Royal Gold’s quarterly revenue was up 114.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.81 earnings per share. Sell-side analysts forecast that Royal Gold, Inc. will post 10.26 EPS for the current year.

Royal Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Friday, October 2nd will be paid a $0.475 dividend. The ex-dividend date of this dividend is Friday, October 2nd. This represents a $1.90 annualized dividend and a dividend yield of 0.7%. Royal Gold’s dividend payout ratio (DPR) is 20.74%.

About Royal Gold

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.