Corient Private Wealth LP Makes New Investment in Royal Gold, Inc. $RGLD

Corient Private Wealth LP acquired a new stake in shares of Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) during the second quarter, Holdings Channel reports. The firm acquired 7,307 shares of the basic materials company’s stock, valued at approximately $1,458,000.

Other institutional investors also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. grew its stake in shares of Royal Gold by 99.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 168,846 shares of the basic materials company’s stock valued at $27,608,000 after purchasing an additional 84,206 shares during the period. Focus Partners Wealth lifted its position in shares of Royal Gold by 51.5% during the 1st quarter. Focus Partners Wealth now owns 8,465 shares of the basic materials company’s stock worth $1,384,000 after buying an additional 2,876 shares during the period. Brown Advisory Inc. lifted its position in shares of Royal Gold by 28.9% during the 2nd quarter. Brown Advisory Inc. now owns 3,551 shares of the basic materials company’s stock worth $631,000 after buying an additional 796 shares during the period. Qube Research & Technologies Ltd boosted its stake in Royal Gold by 43.0% in the 2nd quarter. Qube Research & Technologies Ltd now owns 188,247 shares of the basic materials company’s stock valued at $33,478,000 after buying an additional 56,621 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its stake in Royal Gold by 4.6% in the 2nd quarter. NewEdge Advisors LLC now owns 24,551 shares of the basic materials company’s stock valued at $4,366,000 after buying an additional 1,072 shares in the last quarter. 83.65% of the stock is owned by institutional investors and hedge funds.

Royal Gold Stock Performance

NASDAQ:RGLD opened at $264.85 on Friday. The stock has a market capitalization of $22.44 billion, a P/E ratio of 28.91, a price-to-earnings-growth ratio of 1.94 and a beta of 0.50. The company has a current ratio of 2.92, a quick ratio of 2.68 and a debt-to-equity ratio of 0.05. Royal Gold, Inc. has a 1 year low of $168.88 and a 1 year high of $306.25. The firm has a 50 day moving average of $219.27 and a 200-day moving average of $235.81.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last released its quarterly earnings results on Wednesday, August 5th. The basic materials company reported $2.56 EPS for the quarter, topping analysts’ consensus estimates 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 in the prior year, the company earned $1.81 EPS. Royal Gold’s revenue for the quarter was up 114.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Royal Gold, Inc. will post 10.26 EPS for the current fiscal year.

Royal Gold Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Friday, October 2nd will be issued a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Friday, October 2nd. Royal Gold’s dividend payout ratio is presently 20.74%.

Analyst Upgrades and Downgrades

RGLD has been the topic of a number of analyst reports. Weiss Ratings cut Royal Gold from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, August 4th. Zacks Research cut Royal Gold from a “hold” rating to a “strong sell” rating in a report on Friday, July 31st. UBS Group boosted their target price on shares of Royal Gold from $280.00 to $285.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Scotiabank reaffirmed a “sector perform” rating and issued a $310.00 target price on shares of Royal Gold in a report on Tuesday, July 14th. Finally, Royal Bank Of Canada dropped their target price on shares of Royal Gold from $310.00 to $305.00 and set an “outperform” rating for the company in a research report on Thursday, July 9th. Seven analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Royal Gold currently has a consensus rating of “Hold” and an average price target of $285.10.

Insider Buying and Selling at Royal Gold

In related 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 value of $131,400.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company 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.