Ieq Capital LLC Invests $6.67 Million in Royal Gold, Inc. $RGLD

Ieq Capital LLC purchased a new stake in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 33,402 shares of the basic materials company’s stock, valued at approximately $6,667,000.

Other large investors have also modified their holdings of the company. Callan Family Office LLC acquired a new stake in Royal Gold during the 2nd quarter worth $682,000. Keating Financial Advisory Services Inc. acquired a new position in Royal Gold in the second quarter valued at $48,000. Allworth Financial LP purchased a new position in shares of Royal Gold during the second quarter worth about $2,086,000. Vise Technologies Inc. purchased a new position in shares of Royal Gold during the second quarter worth about $2,874,000. Finally, Tocqueville Asset Management L.P. purchased a new stake in Royal Gold in the second quarter valued at approximately $2,064,000. Institutional investors and hedge funds own 83.65% of the company’s stock.

Insiders Place Their Bets

In other Royal Gold news, SVP Randy Shefman sold 500 shares of the company’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $215.85, for a total value of $107,925.00. Following the sale, the senior vice president owned 8,582 shares of the company’s stock, valued at approximately $1,852,424.70. This represents a 5.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.35% of the company’s stock.

Royal Gold Price Performance

Shares of NASDAQ:RGLD opened at $259.01 on Monday. The business’s 50 day simple moving average is $210.17 and its 200-day simple moving average is $236.44. The firm has a market capitalization of $21.95 billion, a price-to-earnings ratio of 28.28, a price-to-earnings-growth ratio of 1.95 and a beta of 0.44. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.92 and a quick ratio of 2.68. Royal Gold, Inc. has a 12 month low of $168.88 and a 12 month high of $306.25.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last released its quarterly earnings results on Wednesday, August 5th. The basic materials company reported $2.56 earnings per share 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 analysts’ expectations of $458.85 million. During the same quarter in the prior year, the firm posted $1.81 EPS. The company’s revenue was up 114.9% compared to the same quarter last year. As a group, equities analysts forecast that Royal Gold, Inc. will post 10.32 earnings per share for the current fiscal year.

Royal Gold Dividend Announcement

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

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Zacks Research cut Royal Gold from a “hold” rating to a “strong sell” rating in a research note on Friday, July 31st. Jefferies Financial Group cut their price objective 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. Scotiabank restated a “sector perform” rating and issued a $310.00 target price on shares of Royal Gold in a research note on Tuesday, July 14th. UBS Group lifted their target price on shares of Royal Gold from $280.00 to $285.00 and gave the company a “buy” rating in a report on Friday, August 7th. Finally, Weiss Ratings lowered shares of Royal Gold from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, August 4th. Seven analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $285.10.

Royal Gold Company 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.